Freestanding Rite Aid Drug
For Sale
Contact for pricing
Pending
2715 Parade St, Erie, PA 16504
Corporate-backed occupancy, an NN lease, and a recent tenant-funded remodel support the property’s operating profile.
Property SizeContact for details
Days on Market144
Property Features for 2715 Parade St
General Information
Standard status
Pending
Property subtype
Retail
Site & Location
Corner Location
Yes
Traffic Count
15,000 vehicles/day
Road Access
Yes
Additional Details
Cap Rate
8%
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
AiCRE Partners
Listed By:
Miles Elam · License #CA 02105134
Source:
Crexi
Added: Apr 11
Changed: Aug 29
Last Checked: Aug 31 at 2:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of AiCRE Partners
Investment Insights
Based on property information with market context.
This freestanding drug store at 2715 Parade St. is occupied by Rite Aid under a corporate guarantee. The tenant has operated at the property continuously since 1996 and recently completed its Rx Revolution remodel at its own expense. The NN lease has over 5 ½ years remaining, while a full roof replacement was completed in 2020, limiting near-term landlord responsibilities.
The property occupies a signalized hard corner in Erie’s dense Downtown retail corridor, with daily traffic exceeding 15,000 vehicles. Saint Vincent Hospital and the Erie VA Medical Center are both less than 1 mile away; Saint Vincent has 456 beds, and the VA served over 22,000 veterans in 2022. Mercyhurst University, with 2,759 students, is also less than 1 mile from the site. Reported 2022-23 store sales were $582/SF, with a 2.5% rent-to-sales ratio.
The property occupies a signalized hard corner in Erie’s dense Downtown retail corridor, with daily traffic exceeding 15,000 vehicles. Saint Vincent Hospital and the Erie VA Medical Center are both less than 1 mile away; Saint Vincent has 456 beds, and the VA served over 22,000 veterans in 2022. Mercyhurst University, with 2,759 students, is also less than 1 mile from the site. Reported 2022-23 store sales were $582/SF, with a 2.5% rent-to-sales ratio.
Key Highlights
- Freestanding, single‑tenant Rite Aid with corporate guarantee
- NN lease has over 5 ½ years remaining
- Full roof replacement completed in 2020
Property Analytics
Property Profile
Current Use
Lease Details
15,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
14k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,498 visits/mo
0.1 miles
Circle K
Shops & Services
5,627 visits/mo
0.5 miles
Valvoline Express Care
Shops & Services
1,258 visits/mo
0.1 miles
Demographics for 16504, PA
16,135
Population
7,038
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
91%
High-School Grad
2.8 sq mi
ZIP Area
5,763
Density / Sq Mi
$51,988
Median Household Income
$34,362
Median Earnings
$966
Median Rent
$109,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Drug store - Corporate-backed occupancy, an NN lease, and a recent tenant-funded remodel support the property’s operating profile.
Where is this drug store located?
The property is located at 2715 Parade St Erie, PA.
What are key features of this property?
This property features: Freestanding, single‑tenant Rite Aid with corporate guarantee; NN lease has over 5 ½ years remaining; Full roof replacement completed in 2020
