For Sale – Rite Aid Pharmacy of Three Rivers
Price: $819,000.00
Three Rivers, MI
Lease Expiration: 7/31/2026 (plus two 5 year options with rental escalations)
Cap Rate: 6.5
Leasable Area: 7,500 s.f.
Trade Area: Rural St. Joseph County Michigan.
Property Size
7,500 Square Feet
Availability
For Sale – Rite Aid Pharmacy of Three Rivers Leasing Plan
| Square Footage | ||
|---|---|---|
Great Location- Located on State Highway M-60 (1113 West Michigan Avenue) in the heart of the retail shopping, restaurant, and banking district. Nearby retailers include Walmart, Meijer, McDonalds, Taco Bell, Hardings (Spartan-Nash) Supermarket, KFC and more.
Minimal Landlord Responsibilities- This was originally a Hook’s Drug Store and was acquired by Rite Aid in 1994. It is a true NNN lease offers landlords a limited involvement because the tenant is responsible for taxes, insurance, roof, structure, HVAC, parking lot, property maintenance and landscaping. The landlord’s just collects the rent.
This is a recession resistant and mandated essential business in a secure market with great visibility and strong traffic counts.
Three Rivers Demographics
| 1 Mile | 3 Mile | 5 Mile | |
|---|---|---|---|
| Population | 4,206 | 11,495 | 14,970 |
| Income | $48,586 | $52,341 | $54,369 |
