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Views: 124 DOM: 112 Updated: 11.07.24 Posted: 08.01.24 Status: Active

Summary

Price $2,808,000
Built/Renov 2019
Tenant Sheetz (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,700
Lease Start 09-01-2019
#Units 720
Price/SF $492.63
Expiration 08-31-2034
Tenant Type Convenience/Gas
NOI $140,400
R. Term 9.9
Ownership Ground Lease
Rent/SF $24.63
Increases 10.0%/9/yrs
Pop 5Mi 68,859
Lot/AC 1.79
Options 7/5yrs/10%
AHHI 5Mi $100,919

Lease Highlights

  • Sheetz has 9+ years remaining on the current ground lease term with 7 (5-year) options to extend
  • The lease features 10% rental increases at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Sheetz is strategically located on Racetrack Road and Meadows Drive, with access to a combined daily traffic count of 12,690 vehicles. Racetrack Road connects Route 19 (24,303 VPD) and I-79 (55,540 VPD). The property is immediately adjacent to several hotels such as Hyatt Place at Hollywood Casino, DoubleTree by Hilton, and Hampton Inn & Suites. The immediate area boasts well-known national...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 3,114 22,025 69,737
2024 Total Population : 3,040 21,636 69,430
2024 Employed Civilian Pop : 1,810 11,456 35,972
2024 Total Businesses : 243 1,201 3,732
2024 Average Household Income : $ 131,492 $ 126,376 $ 107,695
2024 Total Consumer Spending : $ 160 M $ 1029 M $ 2809 M
2024 Median Age : 44 46 44
2024 Total Households : 1,410 9,391 29,901
2024 Pop Age 25+: Bachelor's Degree : 844 4,544 12,247
2024 Average Home Value : $ 365,907 $ 342,719 $ 328,650
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Quail Acres Ln 2021 14,129 0.11 mi
Racetrack Rd Washington Rd 2017 12,690 0.16 mi
Racetrack Rd 2019 4,168 0.65 mi
Allison Ave Racetrack Rd 2017 12,035 0.68 mi
Boone Ave 2021 3,152 0.69 mi
Racetrack Rd 2021 10,478 0.70 mi
Allison Ave 2021 2,814 0.71 mi
Allison Ave 2019 6,537 0.72 mi
Allison Ave 2021 4,667 0.73 mi
Allison Ave 2021 4,848 0.78 mi

Listing Broker

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