Giant Eagle Pharmacy 1201 Blair St 7,124 SF Retail Building Hollidaysburg, PA 16648 $1,500,978 CAD ($210.69 CAD/SF) 7% Cap Rate

A rare Giant Eagle Pharmacy conversion — one of only two former Rite Aid sites selected statewide — located in the heart of the Altoona/Hollidaysburg daily-needs corridor. Giant Eagle took over a high-volume prescription business, reaffirming the strength of this location and its dominant healthcare position in the market.
The asset delivers corporate-guaranteed stability, a true drive-through prototype, and an exceptionally low rent structure (±$10.67/SF)—less than half of comparable healthcare retail—providing both intrinsic downside protection and long-term re-tenanting leverage. At an all-in basis near 50% below replacement cost, the deal is underpinned by real estate fundamentals that are almost impossible to replicate today.
Surrounded by Walmart, Lowe’s, Sheetz, Dunkin’, and UPMC Altoona, the site benefits from strong prescription demand, daily traffic, and an affluent, stable consumer base. With 10% built-in rent bumps and clear repositioning potential, this offering combines credit-backed income, proven sales, and meaningful upside—a compelling play for investors seeking durable healthcare retail with below-market rent and long-term value creation.