x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Contact Us

x

Phone: 916-403-1812

Email: McKenney.Houck@cushwake.com

Or contact us using the form below.


Sheetz Ground Lease, Heath, OH

Sheetz Ground Lease, Heath, OH


Investment Summary

Price $3,460,000
Cap Rate 5.55%
NOI $192,000
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 5% rental increases every five (5) years in initial term and option periods
Year Built 2022
Building Size 6,077 SF
Lot Size +/- 0.536 acres (23,349 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

15-YEAR ABSOLUTE NNN GROUND LEASE TO CORPORATE SHEETZ WITH 5% RENTAL INCREASES EVERY FIVE YEARS
» 15-year NNN ground lease requires no landlord management, ideal for an out-of-area investor
» 5% rental increases every five (5) years in initial term and option periods
» 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 INTERSECTION LOCATION IN A DENSE RETAIL CORRIDOR
» High-visibility location on the signalized hard-corner intersection of State Route 79/Hebron Road and Oberlin Drive with access to 34,350 vehicles per day
» Prominent location in a dense retail corridor with nearby national brands such as Walmart Supercenter, Walgreens, Target, Kroger, Lowe’s Home Improvement, Best Buy, Hobby Lobby, and numerous others
» Situated within a four-mile radius of several national hotels, including DoubleTree by Hilton Hotel Newark Ohio (117 rooms), Holiday Inn Express & Suites Heath – Newark (88 rooms), Hampton Inn Heath-Newark (76 rooms), and Comfort Inn & Suites (63 rooms)
» Minutes from Licking Memorial Hospital (227 beds, 2,150 system-wide employees) and Ohio State University at Newark (2,730 students)
» Close to well-attended schools, including Heath High School (498 students), Garfield Elementary School
(394 students), Heath Middle School (421 students), and many more

LARGE CUSTOMER BASE OF NEARLY 70K RESIDENTS IN THE HEART OF LICKING COUNTY’S COMMERCIAL CORRIDOR
» Surrounded by single-family housing developments and large apartment complexes
» 69,384 residents within a five-mile radius, establishing a large customer base for the site
» Five mile average annual household income of $84,776 (projected to increase 13% by 2028)
» Beneficial proximity to Newark-Heath Airport and John Glenn Columbus International Airport, the second-largest airport in Ohio, (3.2 million passengers in 2020)
» 40 miles from Columbus (905,748 residents) – Ohio’s capital and most populous city
» The city of Heath is home to the principal commercial corridor of Licking County

HIGH-QUALITY 2023 CONSTRUCTION BUILT TO TENANT’S LATEST PROTOTYPE
» Location includes a freestanding convenience store, a drive-thru, and 12 canopied gas pumps for added customer convenience
» Easy access location with multiple entry and exit points

Property Description

» Excellent Visibility at a Signalized Hard Corner: Sheetz is located at the intersection of State Route 79/Hebron Road and Oberlin Drive, with access to 34,350 vehicles per day
» Prominently Located in a Dense Retail Corridor: The property is within walking distance of Advance Auto Parts and Walgreens and is near numerous national brands such as Walmart Supercenter, Target, Kroger, Lowe’s Home Improvement, Best Buy, Hobby Lobby, and more
» Near Major Traffic Drivers: The site is situated within a four-mile radius of several national hotels, including DoubleTree by Hilton Hotel Newark Ohio, Holiday Inn Express & Suites Heath –Newark, Hampton Inn Heath-Newark, and Comfort Inn & Suites
» Close to Highly Attended Schools and Community Hubs: This location benefits from its proximity to Heath High School, Garfield Elementary School, Heath Middle School, and Ohio State University at Newark as well as Licking Memorial Hospital
» High-Density Surrounding Area: The surrounding area features single-family housing developments and large apartment complexes with a customer base of 69,384 residents within a five-mile radius
» Strong Demographics: The average annual household income within a five-mile radius is $84,776 and is projected to increase by more than 13% by 2028
» Easily Accessible: The site is near both Newark-Heath Airport and John Glenn Columbus International Airport
» Gateway to Columbus: The location serves as a gateway to Ohio’s capital and most populous city,with a population of over 905,000. Additionally, the City of Heath is home to the principal commercial corridor of Licking County

Download OM Form

x
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link