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Sheetz Ground Lease, Warren, OH

Sheetz Ground Lease

Warren, OH

Price $3,067,000
Cap Rate 4.50%
NOI $138,000
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 In Option Periods
Year Built 2022
Building Size 6,077 SF
Lot Size 2.31 Acres (100,624 SF)
Status Available
Lead Broker Information 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 LEASE TO CORPORATE SHEETZ
» New 15-year absolute NNN lease with 10 percent rental increases every option, providing an excellent hedge against inflation
» Absolute NNN 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.
» Sheetz is investing significant capital into the construction, providing a safe investment for passive investors

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED AND GROWING CLEVELAND SUBURB
» Located near the signalized, hard-corner intersection of East Market Street and North Road Northeast (52,702 AADT)
» 82,656 residents within a five-mile radius of the property, establishing a large customer base for the site
» Projected 11 percent average annual household income increase within five miles of the site in the next five years, poising Sheetz and the immediate trade area for significant concurrent growth
» Surrounded by high-density single-family housing developments and large townhouse complexes

CENTRAL LOCATION NEAR WARREN’S MOST PROMINENT COMMUNITY HUBS
» Located in a dense retail corridor with nearby national brands such as Rite Aid, McDonald’s, Burger King, Pizza Hut, Arby’s, Dunkin’, PNC Bank, Shell, and many more
» One mile from Mercy Health – Saint Joseph Warren Hospital (127 beds, $848M in total patient revenue)
» Three miles from Eastwood Mall Complex, a 1.6 million SF shopping center featuring 50 stores and five anchor tenants (Boscov’s, Dillard’s, JCPenney, Macy’s, Target)
» Centrally located between Cleveland (385,282 population) and Pittsburgh (302,205 population)

NEW 2022 CONSTRUCTION TO TENANT’S LATEST PROTOTYPE
» Location includes a freestanding c-store, a drive-thru, and eight canopied gas pumps for added customer convenience
» Large, 2.31-acre lot with ample parking available
» Easy access location with multiple entry and exit routes



Property Description

This Sheetz is strategically located near the signalized hard-corner intersection of East Market Street and North Road Northeast (52,702 combined AADT). The site is located in a densely populated area in Warren, with 82,656 residents living within five miles of the property. The site is poised to grow along with the location, with a projected 11 percent average annual household income increase within five miles of the site in the next five years. The property is also surrounded by high-density, single family housing developments and large townhouse complexes, driving regular traffic to and from the location.

The property benefits from its central location near many of Warren’s most prominent community hubs. The location is set in a dense retail corridor with nearby national brands such as Rite Aid, McDonald’s, Burger King, Pizza Hut, Arby’s, Dunkin’, PNC Bank, Shell, and many more. The site is one mile from Mercy Health – Saint Joseph Warren Hospital, a 127-bed hospital which has experienced $848M in total patient revenue. The property is also three miles from Eastwood Mall Complex, a 1.6 million SF shopping center featuring 50 stores and five anchor tenants (Boscov’s, Dillard’s, JCPenney, Macy’s, Target). Additionally, the site is centrally located between Cleveland (385,282 population) and Pittsburgh (302,205 population), attracting significant amounts of commuter traffic directly to the property.

Contact Us About This Property

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