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


All units are currently leased

For Sale – Rite Aid Pharmacy of Three Rivers Leasing Plan

Square Footage

“B-/Stable” Moody’s Credit Rating Fortune 500 Company. Third largest drug store chain in the US. The current market cap is over $7.5 B, 2019 annual revenue is over $21 B.

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

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