Rite Aid Bean Station, TN

Retail-Commercial for Sale
Catylist Listing ID: 30172107
Property Subtypes: Free-Standing Building
Building Size (RSF): 8,241 SF
Gross Land Area: 0.96 Acres
Sale Price: $875,000
Unit Price: $106.18 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Rite Aid
Usable Size (USF): 8,241 SF
Sale Terms: Cash to Seller
Cap Rate: 9.65%
Average Occupancy Rate: 100
Last Updated: 12/11/2017

Overview / Comments

Rite Aid located in Bean Station, TN. Store has been in this location for 25-years. Rite Aid recently extended their lease for 5-years. Great Investment opportunity. Rental income is $84,480.00 and will increase to $88,320.00 in April 2018.

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $3,055 (Annual)
Tax Value Land $29,400
Tax Value Improvements $286,200
Assessed Value - Total($) $315,600 (Annual)
Potential Rental Income $84,480 (Annual)
Gross Operating Income $84,480 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Rite Aid
Website URL https://www.riteaid.com/
Industry Type Retail Trade
Annual Revenue $33,000,000 (Annual)
Year Founded 1927
SF of Space Occupied 8,241 SF
Current Rent $84,480 PSF (Annual)
Lease Expiration 4/2023
Escalations option 1: $88,320.00 option 2: $92,160.00 option 3: $96,000.00
Options 2 5-year options

Additional Details

Nearest MSA: Knoxville
County: Grainger
Taxing Authority: Grainger County
Tax ID/APN: 024 064.00
Property Visibility: Excellent
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Average
Year Built: 1993
Construction/Siding: Brick, Metal/Glass
Parking Type: Surface
Heat Type: Natural Gas, Propane
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Septic

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,115 5,142 10,777
Median Age: 38.5 42.55 42.59
Households: 429 2,074 4,379

Contact

Photograph of Listing Agent

Paul LeBel, CCIM

LeBel Commercial Realty KAAR CIE Member
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