Rite Aid | Woodlake, CA

160 East Antelope Avenue, Woodlake, CA

$3,468,000

Price

8%

Cap Rate

$277,515

NOI

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Map
Overview
Cap Rate
8%
NOI
$277,515
Building Size
14,673 sqft
Lot Area
0.95 acres
Lease Type
Triple Net
Year Built
2015
Tenancy
Single
Parking Spots
42
Lease Expire Year
March 1, 2036
Highlights
  • The lease structure is triple net (NNN), with zero landlord responsibilities. Tenant is responsible for maintaining, repairing, and replacing all aspects of the property, as well as all required insurances, taxes, and utilities.
  • There are nearly twelve (11.9) years remaining on the lease term, plus six (6), five (5) year options.
  • The lease provides for 10% rental increases every ten (10) years, including through the option periods. The next rental increase is in 2026, increasing the cap rate to 8.80%.
  • The lease is corporately guaranteed by Rite Aid Corporation (NYSE: RAD), the third largest drugstore chain in America.
  • This Rite Aid location is the only one serving the city of Woodlake and surrounding cities. The next closest location is 12 miles southwest.
  • Sequoia National Park is located 21 miles (30 minutes), from the subject property. Known for the world’s largest trees, Sequoia National Park encompasses 404,064 acres and attracts over 1.2 million visitors annually.
Documents
Title
Rite_Aid_-_Woodlake__CA.pdf
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Location
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