Property Listing No Longer Available for Sale

7036 Wertzville Road, Mechanicsburg, PA

Retail for Sale - $4,535,584 - 14,584 Sq. Ft. on 2.29 acres

Property Info

  7036 Wertzville Road
  Mechanicsburg PA 17050
UpdatedMay 29th, 2012
Building14,584 Sq. Ft.
Land2.29 acres

Property Description

This freestanding Rite Aid Pharmacy is situated at the northeast corner of Keystone Drive and Wertzville Road (State

Route 944) in Mechanicsburg, Cumberland County, Pennsylvania. This signaled intersection is in the midst of a growing

suburb of Harrisburg. The property is less than one-half mile from the Interstate-81 Interchange, in a developing area

with new commercial and residential projects. There are also a number of new and existing office developments including Wentworth Corporate Center, a Class "A" office park located at Interstate-81 and Wertzville Road spread over 43 acres; Cumberland Technology Park, one of the premier office parks in Central Pennsylvania just off Interstate 81 spread over 200 acres with office space leased by IBM, the Patriot-News Company, Pinnacle Health Systems and Delta Development; Silver Creek Commerce Park, a Class "A" project located off Carlisle Pike consisting of 3 acres with 80,000 build to suit units; and Silver Creek Plaza on the Pike, situated on Carlisle Pike, features the region's first combined Toys"R"Us/Babies"R"Us mega-store of 46,700 square feet, as well as inline retail and restaurant and bank pad sites.

Adjacent to the subject property are three separate parcels totalling just over six acres that is zone C-1 for development of office and/or apartment project(s). A Turkey Hill Mini Mart is located on the opposite corner to the subject property, and new commercial uses surround the property to its rear. There are beautiful single-family homes to the rear of this site that enjoy its proximity to Interstate-81. The area boasts an extremely high household income level over $120,000. This area is home to a number of executives at Rite Aid as the headquarters of the tenant is only minutes away. This Rite Aid is the only national pharmacy chain in the immediate area.


Marcus & Millichap is pleased to offer exclusively for sale this new freestanding Rite Aid Pharmacy, with approximately 14 years remaining on a double net lease with attractive, below market existing debt. Rite Aid has a very strong market share in this particular marketplace as the chain's headquarters is based several miles away in Harrisburg. Further, this particular store was developed to serve many of the Rite Aid executives that live in the immediate area as it is one of the upper income areas of Harrisburg.

The site is encumbered by an existing mortgage that requires assumption. To the buyer's benefit, the debt is non-recourse, and similar debt is not available in today's market. The loan in place has a 10 year term, 30 year amortization with a rate of 6.4%. A limited amount of cash needed to acquire this property At list price, with approximately $927,095 or 20 percent over mortgage, an investor will receive a 10.30 percent cash on cash over the next 4.5 years. This is an attractive return considering the quality of this location.

For Full Offering Memorandum, Contact Listing Agent