Low Rent Rite Aid Portfolio

Introducing the LOW RENT RITE AID PORTFOLIO featuring two prime locations: 250 Basin Street in Ephrata, WA, and 12811 Meridian Street in Puyallup, WA. This STNL lease offering presents a lucrative investment opportunity with a portfolio price of $5,534,000 or $2,734,000 and $2,800,000 respectively. This is a unique portfolio as both properties had substantially reduced rent during Rite Aid’s bankruptcy which was successfully exited September 1, 2024. This reduced rent created an opportunity for an investor to acquire the properties at deep below-replacement cost at low basis. Rite Aid has a 7+/- year on the Ephrata store and 3+/- years lease term remaining on the Puyallup store with a WALT of 5 years. The rent in options will substantially increase – 64% for Ephrata and  81.5% for Puyallup in the options. Both leases are NN+ with Landlord responsibilities including roof, structural portions, and exterior. With the stores’ strong performance, it is highly likely that  Rite Aid will exercise the options at the scheduled option rent. Rite Aid Corp successfully emerged bankruptcy with 1300 of their best performing stores