The Boulder Group completed the sale of a single-tenant Rite Aid Pharmacy at 4332 Cleveland Ave. in Canton, Ohio, for $2.1 million.
The 11,385-square-foot Rite Aid is positioned at the signalized intersection of Cleveland Avenue and 44th Street. Cleveland Avenue is a primary north-south thoroughfare in the area experiencing traffic counts of 20,700 VPD.
The Rite Aid is located less than 2.5 miles from Interstate-77. Other retailers in the area include AutoZone, Fifth Third Bank, O’Reilly Auto Parts and Giant Eagle Supermarket. The property features a drive-thru, GNC in-store outlet and has excellent visibility/ signage. Rite Aid has successfully operated at this location since 1998.
Randy Blankstein and John Feeney of The Boulder Group represented both sides in the transaction. The seller was a Midwest-based investment group and the buyer was a New York-based investor.
Rite Aid has more than five years remaining and has one five-year renewal option remaining.