The subject property includes a 10,908sf freestanding, single story, single tenant building located on a prominent, high traffic corner in Wilson, North Carolina. Asset was originally built for Eckerd but was re-branded as a Rite Aid upon their acquisition of Eckerd Corp. Rite Aid is the largest drugstore chain on the East Coast- after it's merger with Walgreens the combined company will be the largest retail pharmacy in the country. The offering is secured by a 20yr net lease requiring minimal landlord maintenance responsibilities encompassing the roof & structure. The lease currently has 4.5 years remaining on the initial fixed term, at the expiration of which the tenant will have four 5-year renewal options each with 5% rental increases. This location benefits from excellent exposure at the corner, tremendous ingress/egress and a drive-thru pharmacy. The asset is being offered with a second Rite Aid location in Cambridge, MD, which is currently sub-leased to Family Dollar. The offerings afford a buyer the rare opportunity to acquire two maintenance free, passive net leased investments, secured by best in class retailers with tremendous intrinsic land value generating above market returns while also providing an appealing inflation hedge & mitigated risk by diversifying over two locations.

Location Description:

The subject property is situated at a prominent signalized corner in downtown Wilson, NC. The location has fantastic visibility at the corner & access from both bordering streets. Traffic counts directly in front of the property are nearly 30,000 cars per day and the location is along the area's dominant retail trade corridor. Neighboring tenants include; Food Lion, Carmike Theatres, Dollar General, Wilson Mall & the Wilson Medical Center- a 294 bed hospital that is the only hospital in Wilson County, located one block west of the property. Wilson is a city in, and the county seat of, Wilson County, North Carolina with a population exceeding 54,000 people within 5 miles. Wilson is situated in the heart of eastern North Carolina. It lies at the interchange of I-95, I-795 and U.S. Route 264. Wilson is now ranked 18th in size among North Carolina's 500-plus municipalities. The city has added more than 40% in population since 1990. Wilson is located 40 miles east of Raleigh which is number one on the 2015 Forbes List for being the best place for businesses and careers.

Highlights:

>> Net Lease- Minimal LL Responsibilities; 4 Fixed Years Remaining On Initial 20 Year Term; 5% Rent Increases In Each Option Period

>> Drive Thru Pharmacy; Excellent Visibility & Access At Prominent Signalized Intersection; 30,000 Cars Per Day

>> Surrounded By National Retailers; One Block From Wilson Medical Center- Area's Only Major Hospital

>> Corporate Guarantee By Rite Aid; S&P Rating Of 'B'; Market Cap Of $7.91b+

>> Sold With 2nd Rite Aid Location In Cambridge, MD

Sales Info:

>> Commision split: 1.5%