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, Marysville, OH

Sheetz Ground Lease, Marysville, OH


Investment Summary

Price $3,814,000
Cap Rate 5.35%
NOI $204,000
Lease Term 15 years
Lease Type Absolute NNN 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 2023
Building Size 6,131 SF
Lot Size 2.23 acres (97,139 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 LEASE TO CORPORATE SHEETZ WITH RARE 10% RENTAL INCREASES EVERY FIVE YEARS
» 15-year NNN ground lease requires no landlord management, ideal for an out-of-area investor
» 10% rental increases every five (5) years in initial term and option periods, offering an extremely rare rental increase schedule for Sheetz
» 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

PROMINENT HARD-CORNER LOCATION
» Prominent location on the hard corner of Delaware Avenue and North Cherry Street, at a signalized intersection with access to a combined 39,835 vehicles per day
» Strategic location with access to U.S. Route 33 (47,625 AADT), providing a regular source of traffic for the site
» The U.S. Route 33 corridor is home to one of the largest concentrations of manufacturers, research and development organizations, and logistics companies in Ohio and experiences heavy freight/truck traffic
» Conveniently located near Enterprise Rent-A-Car, U-Haul, and Penske Truck Rental with nearby tenants such as Advance Auto Parts, NAPA, O’Reilly Auto Parts, AutoZone Auto Parts, and more
» Surrounded by a mix of local and national tenants such as Walmart Supercenter, The Home Depot, Lowe’s Home improvement, Walgreens, Chipotle, Starbucks, Taco Bell, KFC, and numerous others
» 32,482 residents with an average annual household income of $115,617 within a five-mile radius

CENTRAL LOCATION NEAR MAJOR EMPLOYERS, SCHOOLS, HOSPITALS, AND COMMUNITY HUBS
» Minutes from major area employers, including Scotts Miracle-Gro Corporate Headquarters (1,449 employees), Nestle R&D Center Inc. (178 employees), and Parker Hannifin Hydraulics (148 employees)
» 1.1 miles from Memorial Hospital (97 beds, 780+ employees) and Union County Airport
» Near several large schools, including Marysville High School (1,076 students), Creekview Intermediate School (788 students), Northwood Elementary School (496 students), and many others
» 20 miles from the largest Honda plant in the United States (4,200 employees, 3.5M SF)
» Beneficial proximity to large hotels including, Home2 Suites by Hilton Marysville (100 rooms), Holiday Inn Express & Suites Marysville (100 rooms), and more providing a nearby customer base for the site
» Gateway to Ohio’s state capital and most populous city, Columbus (905,748 residents)

2023 CONSTRUCTION BUILT TO LATEST PROTOTYPE
» New 2023 construction with freestanding convenience store for added customer convenience
» Large 2.38-acre lot with ample truck parking available
» Easy access location with multiple entry and exit routes

Property Description

» This Sheetz is conveniently located on the hard corner of Delaware Avenue and North Cherry Street at a signalized intersection with access to a combined 39,835 vehicles per day. The property is in a strategic location with easy access to U.S. Route 33 (47,625 AADT)
» U.S. Route 33 corridor is home to one of the largest concentrations of manufacturers, research and development organizations, and logistics companies in Ohio and experiences heavy freight/truck traffic
» The site is strategically located near an Enterprise Rent-A-Car, U-Haul, and Penske Truck Rental, with nearby tenants such as Advance Auto Parts, NAPA, O’Reilly Auto Parts, and AutoZone Auto Parts providing a nearby ideal customer base
» The property is 20 miles from the largest Honda plant in the United States (4,200 employees, 3.5M SF)
» Additionally, the site is surrounded by a mix of local and national tenants such as Walmart Supercenter, The Home Depot, Lowe’s Home improvement, Walgreens, Chipotle, Starbucks, Taco Bell, KFC, and numerous others. 313,084 residents with an average annual household income of$112,982 live within a five-mile radius
» The site is less than an hour from Rickenbacker International Airport (15,280 employees, annual economic impact of $2.5 billion) and John Glenn Columbus International Airport (the second-largest airport in Ohio with 3.2 million passengers in 2020) serving Columbus MSA
» This location is a gateway to Ohio’s state capital and most populous city, Columbus (905,748 residents)

Download OM Form

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