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Sheetz, Latrobe, PA

Sheetz

Price $3,680,000
Cap Rate 5.00%
NOI $184,000
Lease Term 15 Years and 5 Months
Lease Type Absolute NNN Ground Lease, with Tenant Responsible for all Taxes, Insurance, and Maintenance
Rental Increases 10% Rental Increases at Every Option
Year Built 2020
Building Size 6,077 SF
Lot Size 1.44 Acres (62,901 SF)
Status Available
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GROUND LEASE TO CORPORATE SHEETZ
» 10% rental increases every option, providing an excellent hedge against inflation
» Absolute NNN ground lease requires no landlord management, ideal for an out of area investor
» Sheetz is on of the largest privately owned chain of convenience stores in the U.S.
» Sheetz is investing significant capital into the construction, providing a safe investment for passive investors

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» Located at the signalized hard corner of Interstate 30/Lincoln Highway and Theatre Street, with excellent visibility and access to 28,280 vehicles per day at the intersection
» 34,319 residents within a five-mile radius of the property
» Central location in a robustly affluent area, with an average household income of $76,407 within a five-mile radius of the site
» High barrier to entry market

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Immediately adjacent to Walmart Supercenter and Lowe’s-anchored shopping center also tenanted by Burger King, Arby’s First National Bank, and many others
» Centrally located near many of Latrobe’s major education centers including Saint Vincent College (1,867 students), Greater Latrobe Senior High School (1,270 students) and many other schools in the Greater Latrobe School District (2,402 students)
» Many other national retailers including ALDI, Tractor Supply Company, CVS, Advance Auto Parts, PNC Bank, Sunoco, Starbucks, Wendy’s, Denny’s, The Coffee Bean, and many others
» Latrobe hosts the Pittsburgh Steelers training camp every summer drawing fans from across the nation

NEW 2020 CONSTRUCTION TO TENANT’S LATEST PROTOTYPE
» Location includes a freestanding restaurant with a drive-thru window and canopied gas pumps for added customer convenience



Property Description

The property is strategically located at the signalized hard corner of Interstate 30/Lincoln Highway and Theatre Street, with excellent visibility and access to 28,280 vehicles per day at the intersection. The property is located in a densely populated and affluent town in the Pittsburgh MSA with 34,319 residents and an average household income over $76,000 within five miles of the property. The property is located adjacent to a Walmart Supercenter and Lowe’s-anchored shopping center also tenanted by Burger King, Arby’s, First National Bank, and many others. Interstate 30/Lincoln Highway is the primary transportation and retail corridor in Latrobe with many other national retailers including ALDI, Tractor Supply Company, CVS, Advance Auto Parts, PNC Bank, Sunoco, Starbucks, Wendy’s, Denny’s, The Coffee Bean, and among others.

The property benefits from its central location near many of the regions large employers and community hubs including the Arnold Palmer Regional Airport, Excela Health Center, and Latrobe Country Club. The property is centrally located near many of Latrobe’s major education centers including Saint Vincent College (1,867 students), Greater Latrobe Senior High School (1,270 students) and many other schools in the Greater Latrobe School District (2,402 students). Saint Vincent College also serves as the off season training facility for the Pittsburgh Steelers. Latrobe is a part of the Pittsburgh MSA, the second largest metropolitan area in Pennsylvania and the 27th largest in the United States.

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