Former Rite Aid - Simpsonville, SC

202 Scuffletown Rd
Simpsonville , SC 29681-7202

Former Rite Aid - Simpsonville, SC - Retail for sale

Investment Highlights



The property is leased to Eckerd Corporation, a subsidiary of Rite Aid. Rite Aid is one of the largest retail pharmacy chains in the country with over 4,500 locations across the United States.

The tenant is operating on an absolute triple-net lese with absolutely zero landlord responsibilities, offering a passive investment opportunity for the remainder of the current lease term.

The property is located along a major retail thoroughfare that includes national retail tenants such as Publix, Bi-Lo, Lowes Foods, Walgreens, and CVS. Other traffic drivers in the immediate area include SportsClub Five Forks, Greenville County Public Library, and Greenville Tennis Club.

The property is surrounded by a densely-populated and affluent consumer base, with over 98,000 residents and an average household income of $101,000 within a five-mile radius.

With more than four years of cash flow in-place before the lease expires, future ownership has time to secure a new tenant while collecting rental payments.


General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 202 Scuffletown Rd, Simpsonville, SC 29681-7202
Land In Acres 1.45
Building Size 10,908  ft2
Financial
Price $3,444,800
Cap Rate 8.50%
Current NOI $292,808.00
Lease
Tenant's Name RITE AID Corporation
Lease Type NNN
Annual Rent $292,808.00
Lease Expiration Date 12/10/2023
Remaining Term 4.7Yrs
Download Offering Memorandum

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