Bishop, CA - Rite Aid

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed, Rite Aid investment property located in Bishop, CA. The tenant has 10 years of primary lease term remaining with 4 (5-year) options to extend. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.

The subject property is strategically located along US Highway 395 (17,000 VPD), a major north/west thoroughfare serving the western US. The asset is ideally positioned as an anchor in Bishop Plaza, with other notable tenants including AutoZone and Big 5 Sporting Goods, promoting crossover traffic to the site. Additionally, the site is in close proximity to national/credit tenants including Vons, Smart & Final, Grocery Outlet, Chase, and more, further increasing consumer draw to the trade area. The 5-mile trade area is supported by a population of over 10,000 residents with an average household income of $72,283.