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• Rite Aid Located One Mile from Mary Breckenridge Hospital in Hyden, Kentucky
• There are 11 Years Remaining on a Triple Net “NNN” Lease | 10-Percent Rental Escalations Every 10 Years
• Corporate Guaranty from Rite Aid | Ranked #107 in Fortune 500 | NYSE: RAD
• Highly Visible Location on U.S. Route 421 | Highway Runs From Indiana to North Carolina Through Cities Like Indianapolis, Lexington, Richmond, Boone, and More
• Nearest Major Freestanding Pharmacy is a CVS Nearly 20 Miles Away
• Other Tenants in the Vicinity Include Dollar General, Advance Auto Parts, Save a Lot, IGA Grocery, Dairy Queen, Exxon, Hardee’s, and USPS
Marcus & Millichap is pleased to present this 14,600-square foot Rite Aid in Hyden, Kentucky. Located approximately 60 miles northwest of Kingsport, Tennessee, this Rite Aid sits on a 0.82 acre plot on U.S. Route 421. Rite Aid has 11 years remaining on a triple-net (NNN) lease with four, five-year renew-al options. The lease calls for 10 percent rental escalations every 10 years, including in the option periods. The lease is corporately guaranteed by Rite Aid Corporation, a publicly traded company (NYSE: RAD) that is ranked #107 in the Fortune 500.
This highly visible Rite Aid sits on U.S. Route 421 which runs from Indiana to North Carolina and goes through the cities of Indianapolis, Indiana, Lexing-ton, Kentucky, Richmond, Kentucky, Boone, North Carolina, and many more. Major tenants in the vicinity include Dollar General, Advance Auto Parts, Save a Lot, IGA Grocery, Dairy Queen, Exxon, Hardee’s, and USPS.
Rite Aid is located approximately one mile from Mary Breckinridge ARH Hospital, a 25- bed critical access hospital known for its long and rich history of innovative medical care. Much like the Appalachian Regional Healthcare system, Mary Breckinridge Hospital has a colorful history that has shaped medical care in Eastern Kentucky. The hospital was originally opened by midwife Mary Breckinridge who founded the Frontier Nursing Service in Leslie County to provide healthcare for mothers and babies in remote rural areas. Rite Aid benefits from being the closest major freestanding pharmacy to Mary Breckenridge Hospital, as the next closest is a CVS nearly 20 miles away. Actual Property
Rite Aid stores service prescription drug customers and offer an assortment of other general merchandise, which it calls front-end products. Front end products include over-the-counter medications, health and beauty aids, personal care items, cosmet-ics, household items, beverages, convenience foods, greeting cards, seasonal mer-chandise, and other everyday and convenience products, as well as photo process-ing. It offers approximately 3,300 products under the Rite Aid private brand.
The overall average size of each store in the Company’s chain is approximately 12,500 square feet. Over 50% of its stores are freestanding and approximately 50% of its stores include a drive-thru pharmacy. Many locations also feature one hour photo shops and include a GNC store-within-Rite Aid-store.
Hyden, Kentucky is located approximately 60 miles northwest of Kingsport, Tennessee. The town is situated at the junction of U.S. Route 421 and Kentucky Route 80, along the Middle Fork of the Kentucky River. The town was established in 1878 and incorporated in 1882, and was named after John Hyden, a state senator of the time who helped form Leslie County. Today, Hyden is known for its contributions in the graduate healthcare fields and the arts. The city is home to the Frontier Nursing School, known for offering the nation’s first Family Nurse Practitioner education program. Also, located in Hyden is the Ken-tucky School of BlueGrass, which offers diploma and certificate options in Bluegrass and Traditional music – banjo, guitar, mandolin, bass, fiddle, resphonic, guitar, and vocal.