Sheetz Ground Lease,
Columbus, OH Investment Summary
| Price | $3,943,000 |
| Cap Rate | 5.25% |
| NOI | $207,000 |
| 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 option periods |
| Year Built | 2023 |
| Building Size | 6,077 SF |
| Lot Size | 2.67 Acres (116,336 SF) |
| Status | Available |
| Lead Brokers | Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Executive Managing Director 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 15-YEAR ABSOLUTE NNN GROUND LEASE TO CORPORATE SHEETZ WITH DRIVE-THRU
» New 15-year absolute NNN ground lease with 5% rental increases every five (5) years in initial term and 10% rental increases every five (5) years in option periods
» Requires no landlord management, ideal for an out-of-area investor
» Sheetz is one of the largest privately owned chains of convenience stores in the U.S. with over 670 locations
» Sheetz is investing significant capital into the construction, providing a safe investment for passive investors
HARD-CORNER LOCATION NEAR OHIO STATE UNIVERSITY
» Hard-corner location on Bethel Road and Godown Road with access to 51,740 combined vehicles per day at the signalized intersection
» Nearby access to State Route 315, a north-south highway in central Ohio which experiences 110,280 vehicles per day in the Columbus metropolitan area
» Three minutes from The Ohio State University Airport and 15 miles from the John Glenn Columbus International Airport (7.45 million passengers in 2022)
» 3.6 miles from OhioHealth Riverside Methodist Hospital (1,059 beds) and The Ohio State University (66,444 students)
ACCESS TO OVER 300K NEARBY RESIDENTS WITH CONTINUED GROWTH
» Surrounded by high-density single-family housing developments and large townhouse complexes
» 313,084 residents within a five-mile radius of the property, establishing a large customer base for the site
» High average annual household income of $125,010 within three miles
» Projected 18% average annual household income increase within one mile of the site in the next five years, poising Sheetz and the immediate trade area for significant concurrent growth
HIGH-QUALITY 2023 CONSTRUCTION BUILT TO TENANT’S LATEST PROTOTYPE
» Location includes a freestanding c-store, drive-thru, and six (6) canopied gas pumps for added customer convenience
» Large, 2.67-acre lot with ample parking available
» Easy access location with multiple entry and exit routes
Property Description
» This Sheetz is located on the hard-corner of Godown Road and Bethel Road with access to 51,740 combined vehicles per day at the signalized intersection
» The site is near State Route 315, a north-south highway in central Ohio that experiences 110,280 vehicles per day
» The property is three minutes from The Ohio State University Airport and 15 miles from the John Glenn Columbus International Airport (7.45 million passengers in 2022)
» Additionally, the property is 3.6 miles from OhioHealth Riverside Methodist Hospital (1,059 beds) and The Ohio State University (66,444 students), providing access to a large workforce and student population
» The site is supported by 313,084 residents within a five-mile radius, establishing a large customer base for the site
» The location benefits from a high average annual household income of $125,010 within three miles with projections to increase 18% by 2027 within one mile, supporting Sheetz and the immediate trade area’s concurrent growth
