Sheetz (GL)

1014 Yunus Road, Durham, NC 27703

$3,592,000

Cap Rate 5.15%

Views: 413 Updated: 07.08.24 Posted: 10.27.23 Status: Sold

Summary

Price $3,592,000	Built/Renov 2023	Tenant Sheetz (GL)
Cap Rate 5.15%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,200	Lease Start 07-17-2023	#Units 682
Price/SF $1,122.50	Expiration 07-31-2038	Tenant Type Convenience/Gas
NOI $185,000	R. Term 13.3	Ownership Ground Lease
Rent/SF $57.81	Increases 10.0%/14/yrs	Pop 5Mi 169,176
Lot/AC 1.95	Options 7/5yrs/10%	AHHI 5Mi $99,918

Lease Highlights

Brand-new, state-of-the-art construction featuring Sheetz latest prototype
New, 15-year lease with 10% rental increase at the start of each option
Absolute NNN ground lease | Zero landlord responsibilities
Corporate guarantee by Sheetz, Inc.

Location Description

This newly constructed Sheetz is strategically located, with excellent access and visibility from Ellis Road (23,660+ VPD) and one block from Durham Fwy/I-885 which boasts over 83,000 vehicles daily. The property is part of the Marketplace at Ellis Crossing, a 30-acre development that will include the first Publix in the Durham market, Chipotle, Heartland Dental, First National Bank, Pet...

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Key Features

New construction
Hard corner intersection
Strategically located
Freeway close
Top 100 MSA
Strong demographics
Brand new lease
Long 10+ yr lease
Accelerated depreciation
Corporate Guarantee

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Links

Sheetz Wikipedia Sheetz Wikipedia Durham, North Carolina Zip Code 27703 Broker Site Page

Maps

Local Information

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 :	5,048	46,064	179,561
2023 Total Population :	4,621	42,899	171,035
2023 Employed Civilian Pop :	2,947	23,785	91,455
2023 Total Businesses :	146	1,503	6,588
2023 Average Household Income :	$ 104,811	$ 110,862	$ 105,623
2023 Total Consumer Spending :	$ 230 M	$ 1767 M	$ 6732 M
2023 Median Age :	32	34	35
2023 Total Households :	2,457	18,179	73,514
2023 Pop Age 25+: Bachelor's Degree :	1,027	8,255	34,052
2023 Average Home Value :	$ 340,362	$ 330,091	$ 349,352

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Ellis Rd	Durham Fwy	2012	13,790	0.10 mi
Ellis Rd	Durham Fwy	2012	12,190	0.18 mi
	Ellis Rd	2021	2,700	0.19 mi
	Ellis Rd	2021	5,000	0.20 mi
Durham Fwy	Ellis Rd	2012	3,680	0.25 mi
	Ellis Rd	2021	4,500	0.25 mi
Ellis Road	Durham Fwy	2019	11,000	0.35 mi
Ellis Rd	Moore Dr	2011	11,600	0.36 mi
Stone Lion Dr	Travertine Ln	2012	1,340	0.42 mi
Ellis Rd	So-Hi Dr	2012	6,510	0.54 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
46271 Views
58 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
48169 Views
60 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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