801 Grow AveMontrose, PA 18801

Property Details for 801 Grow Ave

Lot size

1.93 AC

Property type

Retail properties

Property subtype

Retail space

APN

124.11-1,006.00,000.

APU

12411100600000

Description

This exceptional investment opportunity presents a 12,533 square foot Rite Aid, located at 801 Grow Ave, Montrose, PA 18801. The property sits on a 1.93-acre lot and boasts a strong 8.00% cap rate, generating a substantial NOI of $339,708. The absolute NNN lease, featuring a credit-rated corporate guarantee, provides a passive investment with minimal landlord responsibilities. With a remaining lease term of 5.5 years and six 5-year renewal options, this investment offers long-term stability. The property benefits from a prime location on a signalized corner with excellent ingress/egress, and a drive-thru lane. Built in 2000, the Class A building enjoys 100% occupancy since May 3, 2010. Rare 3.5% rent increases every five years further enhance the investment's return. The asking price is $4,246,000, translating to $338.79 per square foot. Seller financing is available. This property is fee simple ownership and is suitable for a 1031 exchange. The absence of competing pharmacies in the immediate area contributes to the property's strong market position. The property's proximity to national retailers such as McDonald's and Advance Auto Parts further enhances its desirability.

Location Insight

City

Montrose

County

Susquehanna

State

Pennsylvania

Latitude

41.8399

Longitude

-75.8616

Property Tax & Assessments

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