Sold Price: $7,500,000 | 17,339 SF | CAP 7.5%
ADDRESS
3130 Simpson Avenue,
Hoquiam, WA 98550
Team Ghobadi is proud to present the Rite Aid pharmacy located in Hoquiam, Washington. Rite Aid has signed a new 20-year absolute net lease with six five-year options to renew. The demand for pharmaceuticals is only increasing as the U.S. population ages and medical treatment advances, which makes this an attractive investment. Large surrounding tenants adding to consumer traffic include Staples and Top Food & Drug while other smaller tenants include Radio-shack, O'Reilly Auto Parts and Subway along with many more. Walgreen’s, Rite Aid's major competitor, nearest store is forty-five miles away in Olympia.
LEASE
Lease Type: Absolute Triple Net
Lease Commencement: 08/12/11
Lease Expiration: 08/31/31
Time Remaining: 11+ Years
BUILDING INFORMATION
Year Built: 2008
Tenant: Thrifty Payless, Inc.
Guarantor: Rite Aid Corporation
Building SF: 17,339
Land SF: 62,726
APN: 052209000100 & 052209001400
Building Type: 3 Star Retail Drug Store