Lavallette Rite-Aid to Close, Prompting Officials to Consider Downtown Future

The Rite-Aid store in Lavallette, N.J., June 2025. (Credit: LoopNet)

The Rite-Aid store on Grand Central Avenue (Route 35 North) in Lavallette is one of the largest buildings in town, prompting officials to consider how to deal with such a large empty structure after learning the pharmacy chain will close the store in the near future.

Built on a 100-by-100 foot lot, the building measures 8,272 feet in area and is located at 702 Grand Central Avenue. According to county tax records, it is owned outright by Rite-Aid, however it is currently for sale for approximately $3 million. The exact asking price was not published by the brokerage firm handling the sale.

While Lavallette officials have no control over who buys the building, there is an open question as to what type of business would move in to such a large building in what is otherwise a small downtown area. More realistically, the building would likely be divided so multiple businesses could operate, however the borough’s zoning code may preclude such a plan, depending on how it is proposed. This question has led officials to begin considering how to manage the situation.

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“We’re open to suggestions,” said Mayor Walter LaCicero. “We may have to adjust our ordinances in order to fit additional tenants into that space.”

The Rite-Aid store in Lavallette, N.J., June 2025. (Credit: LoopNet)

A marketing deck for the building provided by its broker lists several categories of businesses that might be interested in purchasing the building, including a “variety store, department store, bikes and sporting goods, pharmacy, card and gift store, home improvement store, hardware store, seasonal goods, health club, or other retail use.”

According to county tax records, the building is assessed at $1,650,300, and last year paid $15,611 in property taxes. The deed was last issued for the property in 2003.

Rite-Aid has announced the closure of stores across the country, with the actual closures estimated to occur in “mid-2025.” The company has not announced specific closing dates for individual stores. LaCicero, at a borough council meeting Monday night, said Rite-Aid will be selling and transferring its existing prescriptions to other local pharmacies, though the company has yet to announce those locations. With the closure of Rite-Aid, local residents will be left with just two options on the island: the Acme supermarket pharmacy in Ortley Beach and the CVS store in Seaside Heights.