AutoZone & RiteAid Investement Property
825 E. Chestnut St. Lancaster, PA 17602
GLA: 21,180 SF
Sale Price: $4,250,000
Net Operating Income: $297,000
Cap Rate: 7%
TRUE Commercial Real Estate is proud to bring to market this incredible commercial real estate investment backed by a recently renewed lease with AutoZone with term running through January 2029 and a Rite Aid lease with three option terms remaining. AutoZone
features a BBB S&P rating and currently has bonds maturing near the term of their lease at the Property with a yield to maturity of 2.829%.
In addition to AutoZone and Rite Aid, the property has a standing long term tenancy with a dine-in/take-out restaurant and billboard income from Lamar.
The location and underlying zoning present numerous opportunities for value creation.
Long-term NNN lease with AutoZone
Freestanding Rite Aid with remaining term & options
Ted Hummel, CCIM, EIPS, E-Pro