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Sheetz Ground Lease, Delaware, OH

Sheetz Ground Lease

Price $4,000,000
Cap Rate 5.00%
NOI $200,000
Lease Term 15 Years
Lease Type Absolute NNN Ground Lease, with Tenant Responsible for All Taxes, Insurance, and Maintenance
Rental Increases 10% Rental Increases in Option Periods
Year Built 2021
Building Size 6,077 SF
Lot Size 3.88 Acres (130,680 SF)
Status Available
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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 WITH DRIVE-IN
» Absolute NNN ground lease 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 full corporate guaranteed lease
» Sheetz is completing all the construction at their own cost – a significant long-term capital investment

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» Located at the signalized hard corner of Sunbury Road and Mill Run Crossing, with excellent visibility and access to 36,503 vehicles per day at the intersection
» 49,112 residents within a five-mile radius of the property
» Beneficial proximity to U.S. Route 23 (37,650 AADT)
» Central location in a robustly affluent area, with an average household income of $93,876 within a five-mile radius of the site and 30 miles from Downtown Columbus

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Neighbored by Glenwood Commons shopping center (580,000 SF), featuring retailers such as Meijer, Kohl’s, OfficeMax, Dollar Tree, Verizon, Mattress Firm, and more
» Central location within the Delaware City School District (seven schools, 5,694 students)
» Surrounded by many other national retailers including ALDI, Valvoline, Dairy Queen, Raising Cane’s Chicken Fingers, and many more
» Two miles from Ohio Wesleyan University (1,600 students, 200 administrative staff)
» Immediate access to Downtown Delaware

NEW 2021 CONSTRUCTION TO TENANT’S LATEST PROTOTYPE
» Location includes a freestanding restaurant with a drive-thru window and eight (8) canopied gas pumps for added customer convenience



Property Description

The property is strategically located at the signalized hard corner of Sunbury Road and Mill Run Crossing, with excellent visibility and access to 36,503 vehicles per day at the intersection. The site is located in a densely populated and affluent town in the Columbus MSA, with 49,112 residents and an average household income of $93,876 within five miles of the property. The site also maintains a beneficial proximity to U.S. Route 23 (37,650 AADT).

The property benefits from its central location near many of the regions largest employers, retailers, and community hubs. The location is neighbored by Glenwood Commons shopping center (580,000 SF, 33 stores), featuring retailers such as Meijer, Kohl’s, OfficeMax, Dollar Tree, Verizon, Mattress Firm, and more. The site is centrally located within the Delaware City School District (seven schools, 5,694 students) and is surrounded by many national retailers including ALDI, Valvoline, Dairy Queen, Raising Cane’s Chicken Fingers, and many more. Ohio Wesleyan University (1,600 students, 200 administrative staff) is two miles from the site in Downtown Delaware, driving additional commuter traffic to and from the site.

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