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Rite Aid | San Diego, CA 11845 Carmel Mountain Rd

23,650 SF Retail Building San Diego, CA 92128 £5,773,205 (£244/SF) 5.75% Net Initial Yield

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Investment Highlights

High Profile SoCal Asset - 52K Vehicles Per Day
Dense Retail Corridor - Ralph's, Trader Joe's, Home Depot
Corporately Guaranteed Lease - Below Market Rent

Infill Location - Grocery-Anchored Shopping Center
235K Residents Within 5-Miles - Affluent Average HHI of $199K
Triple Net (NNN) Lease - Exercised 5-Year Option (Jan 2025)

Executive Summary

This offering is a high-profile retail asset in Southern California with highly impressive foot traffic.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

23,650 SF

Building Class

Year Built

2004

Price

£5,773,205

Price Per SF

£244

Net Initial Yield

5.75%

NOI

£331,959

Tenancy

Single

Number of Floors

Building FAR

0.25

Lot Size

2.18 AC

Zoning

CN-1-2

Parking

95 Spaces (4.02 Spaces per 1,000 SF Leased)

Frontage

521 ft on Carmel Mountain Rd

MAJOR TENANTS

Retailer
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NNN
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Rite Aid Corporation is on the front lines of delivering health care services and retail products to over one million Americans daily. Their pharmacists are uniquely positioned to engage with customers and improve their health outcomes. Rite Aid Corporation provides an array of whole being health products and services for the entire family through their retail pharmacy locations across the United States.