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Views: 151 Updated: 11.14.24 Posted: 01.04.24 Status: Inactive 11.14.24

Summary

Price $2,599,920
Built/Renov 2020
Tenant Sheetz (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,988
Lease Start 09-01-2020
#Units 682
Price/SF $434.19
Expiration 08-30-2035
Tenant Type Convenience/Gas
NOI $129,996
R. Term 10.8
Ownership Ground Lease
Rent/SF $21.71
Increases 10.0%/11/yrs
Pop 5Mi 149,710
Lot/AC 1.60
Options 7/5yrs/10%
AHHI 5Mi $91,086

Lease Highlights

  • Sheetz has 11+ years remaining on the current ground lease term with 7 (5-year) options to extend
  • Ranked in top 3% most visited convenience stores in the U.S.
  • Lease features 10% rental increases at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Sheetz is strategically located at the four-way signalized intersection of N Duke Street and Frasier Street, with a combined daily traffic count of 40,303 vehicles. Within a two-mile radius of the Interstate 85 (I-85) interchange, with an additional 108,891 VPD. This site serves as the initial phase of an expansive mixed-use development, that will include 40 residential units and commercial...

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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
2028 Total Population : 8,740 67,164 153,105
2023 Total Population : 8,709 66,249 149,588
2023 Employed Civilian Pop : 4,287 34,440 73,290
2023 Total Businesses : 475 2,705 5,808
2023 Average Household Income : $ 65,125 $ 93,133 $ 91,078
2023 Total Consumer Spending : $ 198 M $ 2236 M $ 4730 M
2023 Median Age : 34 35 34
2023 Total Households : 3,469 27,544 59,487
2023 Pop Age 25+: Bachelor's Degree : 1,267 12,019 23,642
2023 Average Home Value : $ 277,826 $ 390,825 $ 369,984
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Duke St Diane St 2014 26,540 0.04 mi
N Duke St Frasier St 2014 27,770 0.09 mi
Frasier St Winston Rd 2014 390 0.11 mi
Frasier St Crabtree Ave 2014 2,620 0.13 mi
2013 370 0.20 mi
N Duke St Reta Rd 2014 26,960 0.20 mi
N Roxboro St Pacific Ave 2013 16,160 0.20 mi
North Duke Street Newsom St 2019 29,500 0.21 mi
West Carver Street Pendergrass St 2019 10,500 0.23 mi
West Carver Street Birmingham Ave 2021 11,500 0.24 mi

Listing Broker

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