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Views: 100 DOM: 113 Updated: 10.11.24 Posted: 07.09.24 Status: Sold 10.30.24

Summary

Price $3,097,087
Built/Renov 2024
Tenant Sheetz (GL)
Cap Rate 5.15%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 6,132
Lease Start 07-19-2024
#Units 682
Price/SF $505.07
Expiration 06-30-2039
Tenant Type Convenience/Gas
NOI $159,500
R. Term 14.6
Ownership Ground Lease
Rent/SF $26.01
Increases 10.0%/10/yrs
Pop 5Mi 44,597
Lot/AC 2.11
Options 7/5yrs/10%
AHHI 5Mi $119,789

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year ground lease with 7 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Sheetz is strategically located at the signalized, hard corner intersection of North Poplar Street and US Highway 1, with access to a combined daily traffic count of 37,000 vehicles. The property is situated in a vibrant retail corridor surrounded by numerous local businesses and well-known national retailers, including Enterprise, Arby’s, Harris Teeter, Starbucks, Great Clips, Firehouse Subs,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sheetz
  • Guarantor:Corporate
  • Company:Sheetz, Inc.
  • # Units:682
  • 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 : 4,943 25,643 48,304
2024 Total Population : 4,770 24,303 45,685
2024 Employed Civilian Pop : 2,351 10,574 18,831
2024 Total Businesses : 593 1,698 2,521
2024 Average Household Income : $ 74,353 $ 117,612 $ 122,642
2024 Total Consumer Spending : $ 154 M $ 1138 M $ 2204 M
2024 Median Age : 38 42 46
2024 Total Households : 2,335 11,122 20,691
2024 Pop Age 25+: Bachelor's Degree : 651 4,983 10,461
2024 Average Home Value : $ 324,287 $ 474,039 $ 478,731
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Poplar Street Blues Crossing Ln 2022 3,333 0.10 mi
Tabernacle Rd 2022 33,813 0.13 mi
North Sandhills Boulevard Johnson St 2022 29,828 0.20 mi
Saunders Blvd S Broad St 2004 5,700 0.36 mi
Austins Ridge Cir 2022 8,050 0.38 mi
Old Hwy 1 2022 37,610 0.39 mi
Johnson St 2022 18,144 0.41 mi
US Hwy 15 Johnson St 2018 17,500 0.42 mi
US Hwy 1 S 2022 4,919 0.52 mi
North Sandhills Boulevard Hwy 15 2022 39,834 0.54 mi

Listing Broker

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