Rite Aid

Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company operates through Retail Pharmacy and Pharmacy Services segments. The Retail Pharmacy segment sells prescription drugs; and a range of other merchandise, such as over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other everyday and convenience products.

This segment also operates retail clinics that provide treatment for common conditions; and a range of preventive services, including screenings, medical tests, immunizations, and basic physical exams. In addition, this segment provides healthcare coaching and disease management services. The Pharmacy Services segment provides pharmacy benefit management (PBM) services and a range of pharmacy-related services. This segment also performs prescription adjudication services for other PBMs; offers integrated mail-order and specialty and compounding pharmacy services; and provides infertility treatment, as well as drug benefits under the federal government’s Medicare Part D program.

As of June 20, 2017, the company operated approximately 4,500 stores in 31 states of the United States and in the District of Columbia. Rite Aid Corporation was founded in 1927 and is headquartered in Camp Hill, Pennsylvania.

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S&P Rating: B

S&P Outlook: Positive

Moody Rating: B2

Moody Outlook: Under Review (Possible Downgrade)

Typical Lease Characteristics

Lease Term: 20 Years  Years

Lease Type: Absolute NNN Lease 

Lease Increases: 10% Every 5 years 

Lease Extensions: 4-5 (5) Year Options

Lease Guarantor: Corporate

Tenant Overview

One of the top pharmacy tenants, which has deminished tremendously in size after a sell off to Walgreens. The future of outlook of this company is hard to speculate, putting upward pressure on its capitalzation rate


  • Public Company, Credit Rated
  • Typically located in high traffic locations
  • Typically Long term leases with increases


  • Competitive Industry Sector
  • Reduced national pressence after sell-off to Walgreens

Market Snapshots:

On Market Ranges:

# of Properties in set: 67

Price: $4,182,380 - $5,398,180Average: $4,863,229

PPSF: $310 - $390Average: $357

Year Built: 1966 - 2018Average: 2001

CAP Rate Range: 6.26% - 8.14%Average: 6.96%

Size range: 7,520 sq ft - 28,324 sq ft Average: 13,322 sq ft

Last 12 Month Range:

# of Properties in set: 40

Price: $3,548,170 - $4,466,520Average: $4,174,322

PPSF: $264 - $349Average: $315

Year Built: 1954 - 2017Average: 1998

CAP Rate Range: 6.59% - 8.48%Average: 7.57%

Size range: 9,432 sq ft - 23,060 sq ft Average: 13,030 sq ft

Rite Aid Company Profile

Headquarters Information

East Pennsboro Township, Cumberland County, Pennsylvania

Founded in 1962

Company type: Public

Stock Ticker: RAD

Sector: Services

Industry: Drug Stores

# of Employees: 89,000

S&P Rating: B

S&P Outlook: Positive

S&P Rating: B2

Moody Outlook: Under Review (Possible Downgrade)

Rite Aid Stock Keys

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