REIT Sale | Former Rite Aid with Drive-Thru | 21K VPD | 2.09 Acres | Hard Corner

Highlights:

• 14,564 SF Freestanding Former Rite Aid with Drive-Thru on Expansive 2.09 AC Parcel; Built in 2005
• 21,099 VPD Traffic Counts at Signalized Hard Corner (13,597 VPD on N Shoop Ave and 7,502 VPD on Airport Hwy)
• Neighboring Retail: Walmart ($1M+ Weekly Sales), McDonald’s, Ace Hardware, Wendy’s, Tractor Supply, Dairy Queen, Burger King, and more
• Attractive Demographics with Population of ±11,839 and Average Household Income of ±$89,485 (5-Mile)
• Zoned B-2, Highway Service District with a Variety of Commercial Uses
• Absolute $1 Auction – NO RESERVE!

Description:

RI Marketplace Online Auction May 19-21, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2441/reit-sale-former-rite-aid-with-drive-thru-21k-vpd-2.09-acres-hard-corner?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2441

Marcus & Millichap and RI Marketplace are pleased to present the opportunity to acquire a vacant, free-standing retail building located at 1496 N Shoop Avenue in Wauseon, Ohio (the “Property”). Formerly occupied by Rite Aid, the Property is being offered significantly below replacement cost—providing an excellent opportunity for owner/users or investors to acquire a highly visible, strategically positioned asset at a significant discount. FIRST BID MEETS RESERVE!

Constructed in 2005, the Property consists of a one-story, free-standing retail building totaling ±14,564 square feet, situated on a ±2.0891-acre parcel (±91,002 SF). The site includes a drive-thru, two curb cuts for ingress/egress, and 62 surface parking spaces. Positioned at a signalized hard corner, the Property boasts outstanding visibility with ±270 feet of frontage along N Shoop Avenue (US 108) and ±360 feet along US Highway 20A. Previously leased to Rite Aid on a triple net (NNN) basis, the Property presents a value-add opportunity through re-tenanting at prevailing market lease rates (CoStar estimated rents of $7–$9/SF NNN retail). Zoned “B2” Highway Service District, the site allows for a broad range of retail and commercial uses.

The Property is located in Wauseon, Ohio, the county seat of Fulton County and a key retail destination within the greater Toledo region. Strategically situated at the intersection of N Shoop Avenue and US 20A, the site lies within Wauseon’s primary commercial corridor—directly across from a high-performing Walmart Supercenter that generates over $1 million in weekly grocery sales and saw more than 47,000 visits in February 2025. Additional national retailers in the immediate area include Tractor Supply Co, ACE Hardware, GameStop, AutoZone, McDonald’s, Wendy’s, Burger King and Taco Bell, all of which enhance traffic and visibility. The Property is located just ±1.5 miles from the US 80/90 Wauseon interchange (Ohio Turnpike), with nearly 23,000 vehicles passing the area daily—further enhancing its accessibility and exposure. Additional demand drivers include the Fulton County Health Center, a 25-bed full-service hospital with a large outpatient medical campus, and the Wauseon Exempted Village School District, both of which support steady daytime traffic. The surrounding 10-mile trade area includes 29,000+ residents, supported by a stable regional economy rooted in manufacturing, healthcare, and logistics offering a strong foundation for future tenancy and long-term investment potential.

Thomas Seaman
Auctioneer
License: 2007000016

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