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Sheetz Ground Lease, Dayton (Springboro), OH

Sheetz Ground Lease, Dayton (Springboro), OH


Investment Summary

Price $3,888,000
Cap Rate 5.35%
NOI $208,000
Lease Term 15 years
Lease Type Absolute NNN ground lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years in initial term and option periods
Year Built 2024
Building Size 6,139 SF
Lot Size 2.80 acres (122,028 SF)
Status Available
Lead Brokers Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW CONSTRUCTION CORPORATE SHEETZ ON LARGE PARCEL WITH DRIVE-THRU
» New 15-year absolute NNN corporate ground lease with 10% rental increases every five (5) years in initial term and option periods
» Absolute NNN ground lease requires no landlord management, ideal for an out-of-area investor
» Seven (7) option periods of five (5) years each, providing a stable and passive investment opportunity
» Sheetz is one of the largest privately owned chains of convenience stores in the U.S. with over 700 locations
» Sheetz is investing significant capital into the construction, providing a safe investment for passive investors

PRIME LOCATION JUST OFF I-75 CONNECTING CINCINNATI AND DAYTON
» High-visibility and easily accessible location on West Central Avenue, with access to 27,956 vehicles per day directly in front of the site
» 0.2 miles east of the Interstate 75 interchange, with traffic counts exceeding 117,000 vehicles per day, allowing the site to capture significant local, commuter, and long-haul traffic
» Located across the street from a Kroger-anchored shopping center, positioning the site to capture significant crossover buyer activity
» Excellent proximity to major national tenants such as Walmart Supercenter, McDonald’s, Starbucks, Chipotle, Taco Bell, Popeyes, KFC, Wendy’s Arby’s, and many others
» Centrally located near several Springboro schools and community hubs including Springboro High School (2,036 students), Springboro Junior High School (942 students), Franklin High School (772 students), Dennis Elementary School (764 students), DK Bike Park, Sycamore Creek Country Club, Clearcreek Park, Franklin Golf Course, and many others

EXCELLENT DEMOGRAPHICS NEAR DAYTON AND CINCINNATI, TWO MAJOR ECONOMIC HUBS OF OHIO
» 88,886 residents live within five miles of the property, providing a large and stable customer base for the site
» High average annual household income of $121,890 within a five-mile radius of the property
» Projected income and population increases within 1-, 3-, and 5-mile radii over the next five years poise Sheetz and Springboro for steady concurrent growth
» Gateway to both Cincinnati and Downtown Dayton, two of the major economic hubs in Ohio
» Population increased 12% from 2010 to 2023, with a further 3% increase projected by 2028
» Part of the Dayton-Kettering-Beavercreek Metropolitan Statistical Area, the fourth-largest MSA in Ohio with a population of 814,049

NEW HIGH QUALITY 2024 CONSTRUCTION
» New 2024 construction with freestanding convenience store for added customer convenience
» Site features 45 total parking stalls as well as 8 MPD’s (16 fueling stations) on a large 2.80-acre lot
» Easy access location with multiple entry and exit routes

Property Description

» This Sheetz is conveniently located on West Central Avenue, with access to 27,956 vehicles per day directly in front of the site
» The property resides 0.2 miles east from the I-75 interchange, with traffic counts exceeding 117,000 vehicles per day, allowing the site to capture significant local, commute,r and long-haul traffic
» The site is located across the street from a Kroger-anchored shopping center, positioning the site to capture significant activity
» Excellent proximity to major national tenants such as Walmart Supercenter, McDonald’s, Starbucks, Kroger Marketplace, Chipotle, Taco Bell, Popeyes, KFC, Wendy’s, Arby’s, and many others provides ample crossover shopping opportunities
» 88,886 residents live within five miles of the property with a high average annual household income of$121,890, providing a large and stable customer base for the site
» The property serves as a Gateway to both Cincinnati and Downtown Dayton, two of the major economic hubs in Ohio
» Springboro is part of the Dayton-Kettering-Beavercreek Metropolitan Statistical Area, the fourth-largest MSA in Ohio with a population of 814,049

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