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Views: 93 DOM: 46 Updated: 08.24.24 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 9.11
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 10 years remaining on the current ground lease term with 7 (5-year) options to extend
  • The lease features 10% rental escalations 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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Listing Broker

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