$1 Auction - REIT Sale | Former Rite Aid 975 Market St 11,011 SF Retail Building Meadville, PA 16335 $205,145 CAD ($18.63 CAD/SF)

Marcus & Millichap is pleased to present the opportunity to acquire a vacant, free-standing retail building located at 975 Market Street in Meadville, Pennsylvania 16335 (the “Property”). Formerly occupied by Rite Aid, the Property is being offered significantly below replacement cost, providing an attractive opportunity for owner-users or investors to acquire a highly visible, strategically positioned asset at a compelling basis. FIRST BID MEETS RESERVE!
Constructed in 1999, the Property consists of a one-story, free-standing retail building totaling approximately ±11,011 square feet on a ±0.9210-acre (±40,118 SF) parcel. The site features a drive-thru, dual pylon signs, four curb cuts for convenient ingress and egress, and 47 surface parking spaces. Situated at a double signalized hard corner, the Property benefits from exceptional visibility and frontage along four (4) roadways, including Park Avenue (±9,851 VPD), Arch Street (over 4k VPD), Market Street, and South Street. Previously leased to Rite Aid through January 2026 on a NNN basis, the Property offers a value-add opportunity through re-tenanting at prevailing market lease rates (CoStar-estimated retail rents of $11-$14/SF NNN). Zoned MU-3 - Downtown Mixed-Use, the site allows for a wide range of retail and commercial uses.
The Property is located in Meadville, Pennsylvania, the county seat of Crawford County and one of the primary commercial and service hubs within the Erie Metropolitan Statistical Area (MSA). Meadville serves as the regional retail, healthcare, and educational center for Crawford County, drawing consumers from surrounding rural communities and neighboring townships throughout northwestern Pennsylvania. Positioned along Park Ave, one of Meadville’s primary commercial corridors, the Property benefits from close proximity to U.S. Route 19 (±0.6-mi), Interstate 79 (±2-mi), and U.S. Route 322, providing efficient connectivity throughout Crawford County and the broader Pennsylvania and Ohio regions. The Property has a Walk Score® of Very Walkable (86)and is located ±0.3-mi from the Downtown Meadville Mall within the Meadville Downtown District, supporting strong walkability, visibility, and access to established downtown demand drivers. The immediate vicinity features a mix of national and local retailers, professional services, and healthcare providers, reinforcing consistent daily traffic and daytime population. Major regional anchors include Meadville Medical Center (232 beds), located ±1-mi from the Property, as well as Allegheny College (±1,200 students), government offices, and civic institutions concentrated within the downtown core. This combination of downtown retail density, healthcare presence, and regional infrastructure positions the Property favorably for future tenancy and long-term investment potential. The surrounding ±5-mi trade area is home to over 25,000 residents with an average household income exceeding $78,000, reinforcing demand for neighborhood-serving retail, medical, and service-oriented uses and supporting the Property’s long-term upside.