Investment Overview

Marcus & Millichap has been exclusively selected to market for sale the Former Rite Aid at 3451 Hwy 101, Florence, OR — a premier value-add or redevelopment opportunity in a thriving retail corridor. The Property is a 17,272 SF freestanding high-quality concrete block building, built in 2008 and is priced at $125/SF, which is a fraction of the cost to build a comparable building in today’s market, and is also equipped with abundant on-site parking and includes a drive thru. The Property is located on a signalized hard corner with exceptional visibility and direct exposure to over 34,000 vehicles per day. With a high-volume Fred Meyer located just minutes away—drawing over 1.4 million visitors per year—the location provides significant consumer traffic and retail synergy. Surrounded by other major national and regional retailers—including Safeway, Bi-Mart, Grocery Outlet, and Dollar Tree—the property ensures sustained consumer demand and long-term investment potential. Strategically positioned along Highway 101, the property benefits from Florence’s strong local demographics, consistent population growth, and a booming tourism industry that brings in between 750,000 to 1 million visitors annually. Additionally, the market’s high barriers to entry and limited retail supply create a unique opportunity for investors and owner-users alike. The building’s flexible rectangular layout, abundant parking, and rare double drive-thru make it ideal for a variety of uses, including retail, medical, or service-oriented businesses. With its unbeatable highway frontage, strong market fundamentals, and highly adaptable space, this offering represents an outstanding opportunity for investors seeking a strategic retail asset or an owner-user looking for a high-exposure site in a thriving coastal community.