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    801 Grow Avenue Montrose, PA 18801

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    For Sale
    $2,300,000

    SINGLE_FAMILY - Montrose, PA

    Type:Retail
    Property size:
    14,673 SF
    Lot size:
    1.93 Acres
    Price / SF:
    $156/SF
    Added:
    Apr 16, 2025
    Days on Market:
    386
    Last Refresh:
    May 6 at 10:06 am

    Property Features for 801 Grow Avenue

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    Commercial
    Security features
    Security
    Standard status
    Active
    APN
    124.11-1,006.00,000.
    Size
    14,673 SF
    Lot size
    1.93 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    26602

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    2010
    Floors in Building
    1
    Number of units
    1
    Roof type
    Rubber

    We can help!

    Listing Contact
    Jacob W. Rosenstein

    Listing agent Jacob W. Rosenstein License #RS369738

    Listing office ERA One Source Realty 230 Northern Blvd., Clarks Summit, PA

    Listing date Apr 16, 2025

    MLS# SC251693

    Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Rite Aid NNN Lease Investment

    This property presents an opportunity to acquire a corporate-guaranteed, absolute NNN Rite Aid lease, offering passive income with no landlord responsibilities. The tenant is responsible for all expenses, including property taxes, insurance, maintenance, and repairs. The lease has 5 years remaining on the initial term, along with six 5-year renewal options, providing the potential for over 35 years of stable cash flow. Rent increases are built in at approximately 3.6 percent per renewal period, offering inflation protection. The property is strategically located at the high-traffic intersection of Grove Avenue (PA Route 706) and Route 29 in Montrose, PA, ensuring strong visibility. The property is suitable for buyers seeking a low-maintenance, long-term NNN asset with corporate credit backing and future upside through extension options. The property size is 14673 square feet and the lot size is 1.93 acres. The property is zoned commercial. The property is located in Susquehanna County, in Montrose, PA. Rite Aid is a well-established national pharmacy chain, adding further security to this investment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Rite Aid Pharmacy Pharmacy Rite Aid Pharmacy Western Union Bank Coinhub Bitcoin ATM ... Atm CDReload - Online Bitcoin ... Atm

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Dental Office Law Firm Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Price Chopper Pharmacy — 16750 PA-706 Suite 5, Montrose, PA 18801
    • Rite Aid Pharmacy — 801 Grow Ave, Montrose, PA 18801

    Location Insight

    • Map
    • Local Demand
    City
    Montrose
    County
    Susquehanna
    State
    Pennsylvania
    Longitude
    -75.861622
    Latitude
    41.839857

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    FAQs

    What type of property is this?
    Drug store - Corporate-guaranteed NNN Rite Aid lease with renewal options.
    Where is this drug store located?
    The property is located at 801 Grow Avenue Montrose, PA.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Corporate‑guaranteed absolute NNN Rite Aid lease ensures truly passive income.; 5 years remaining on the initial lease term plus six 5‑year renewal options, providing potential for 35+ years of stable cash flow.; Rent increases of approximately 3.6 percent at each renewal period offer inflation protection.
    (570) 955-7338
    We can help!
    Listing Contact
    Jacob W. Rosenstein
    Real Estate License ID: RS369738
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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