Rite Aid

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed (NYSE: RAD), freestanding, Rite Aid investment property located in Yucaipa, California (Inland Empire).​ The tenant, Thrifty Payless, Inc.​, has approximately 7 years remaining in their initial term with 6 (5-year) options to extend, demonstrating their commitment to the site.​ The lease features a 11% rental increase at the beginning of options 1 and 3 along with fair market value increases at the start of options 5 and 6.​ The lease is corporate guaranteed and NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.​ Founded in 1927, Rite Aid offers an array of health products and services through over 2,500 retail pharmacy locations across 17 states.​ Additionally, the adjacent Shops Pad and QSR Approved Land Pad within the center are also available for purchase (Contact Broker for Details).​

Rite Aid is strategically located at the hard corner intersection of Bryant Street and Oak Glen Road, which serves over 26,000 vehicles per day.​ The building benefits from a drive-thru pharmacy, providing ease and convenience for consumers.​ The asset is ideally positioned 2 miles northeast of Yucaipa Valley Center, a 168,000 SF community center with notable tenants including Ross, Vons, TJ Maxx, Staples, and more.​ Other nearby national/credit tenants include Stater Bros, Aldi, Big Lots, Big 5, and more.​ Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site.​ Furthermore, Rite Aid is located less than 2-mile northeast of Chapman Heights, a planned development that launched in 2000 and currently has 1,700 residential homes, several parks, acres of open space, an 18-hole golf course, providing a direct residential consumer base from which to draw.​ Additionally, the subject property is located directly adjacent to the Serrano Lake Community, a 38-acre residential development that will feature 144 brand new single-family homes, providing a direct consumer base to draw from.​ The 5-mile subject trade area is supported by more than 67,000 residents and 12,000 daytime employees with an affluent average household income of more than $104,000.​

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  Approximately 7 Years Remaining | Options To Extend | Well Known & Established Tenant | Corporate Guaranteed

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  NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities

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  Yucaipa Valley Center (168,000 SF | Community Center) | Dense Retail Corridor | Strong National/Credit Tenants

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  Signalized, Hard Corner Intersection | Adjacent to Serrano Lake |Chapman Heights (1,700 Units) | Direct Residential Consumer Base

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  Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes