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Views: 11 DOM: 6 Updated: 10.12.24 Posted: 10.12.24 Status: Active

Summary

Price $4,457,143
Built/Renov 2023
Tenant Sheetz (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 6,077
Lease Start 08-25-2023
#Units 720
Price/SF $733.44
Expiration 07-31-2038
Tenant Type Convenience/Gas
NOI $234,000
R. Term 13.9
Ownership Ground Lease
Rent/SF $38.51
Increases 3.0%/4/yrs
Pop 5Mi 108,726
Lot/AC 1.71
Options 7/5yrs/10%
AHHI 5Mi $179,905

Lease Highlights

  • New 2023 construction
  • Sheets has 13+ years remaining on the current ground lease term with 7 (5-year) options to extend
  • The lease features 3% rental increases in years 6 & 10 | 10% increase in each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Sheetz is strategically located on Mars-Criders Road/PA-228, with access to 25,701 vehicles passing by daily. The property provides convenient ingress/egress and sits just a few hundred feet from the signalized intersection at Franklin Road. Additionally, it is less than a mile from key on/off-ramps to I-79 (65,047 VPD) and I-76 (37,000 VPD). The site is near prominent employers such as AMSA...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sheetz
  • Guarantor:Corporate
  • Company:Sheetz, Inc.
  • # Units:720
  • Stock:Private

About Tenant

Sheetz, Inc. is an American chain of convenience stores and coffee shops owned by the Sheetz family. Founded in 1952, the chains sell custom food, beverages, and convenience store items, with all...


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Listing Broker

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