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SHEETZ, Burbank, OH

SHEETZ

Ohio, USA

Price $3,445,000
Cap Rate
NOI
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 5,087 SF
Lot Size 2.38 Acres (103,673 SF)
Status Sold
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 requires no landlord management, ideal for an out of area investor
» 10 percent rental increases every option, providing an excellent hedge against inflation
» 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

PROMINENT LOCATION IN POPULOUS AND GROWING AREA
» Prominent location on Stelzer Drive and State Route 83/Avon Lake Road featuring a large nylon sign for increased visibility
» Strategic location with immediate access to Interstate 71 (40,305 AADT) on/off ramp
» Within a transportation corridor near several large trucking depots and rest stops, providing a regular source of traffic for the site
» 184,462 residents within a five-mile radius of the property, establishing a large customer base for the site
» Average annual household income of $86,807 within five miles (projected to increase 10 percent by 2026)

CENTRAL LOCATION NEAR NEAR SCHOOLS, HOSPITALS, AND COMMUNITY HUBS
» Situated near the Ohio Station Outlets (16 stores) and surrounded by a mix of local and national tenants such as CVS Pharmacy, NAPA Auto Parts, McDonald’s, Arby’s, Wendy’s, Bob Evans, and many others
» Minutes from Cleveland Clinic Akron General Lodi Hospital (25 beds)
» Near several large schools including, Cloverleaf Middle School (2,315 students), Cloverleaf Elementary School (1,128 students), and Cloverleaf High School (675 students)
» Beneficial proximity to several regional and international airports including Cleveland Hopkins International Airport (4.7 million annual passengers), Akron-Canton Regional Airport (449,731 annual passengers), and Ashland County Airport
» Central location between the two most populous cities in Ohio, Columbus (905,748 residents) and Cleveland (372,624 residents)

NEW 2022 CONSTRUCTION BUILT TO TENANT’S LATEST PROTOTYPE
» New 2022 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

SOLD

This Sheetz is located on Stelzer Drive and State Route 83/Avon Lake Road, with multiple entry and exit routes. The property is strategically located near Interstate 71 (40,305 AADT) on/off ramp with a large prominent nylon sign increasing visibility. The site is located within a transportation corridor near several large trucking depots and rest stops, providing a regular source of traffic to the location. The area is densely populated with a total of 184,462 residents living within a five-mile radius, establishing. The average annual household income is $86,807 within five miles and is projected to increase 10 percent by 2026, poising Sheetz and Burbank for concurrent growth.

The property is situated near the Ohio Station Outlets (16 stores) and surrounded by a mix of local and national tenants such as CVS Pharmacy, NAPA Auto Parts, McDonald’s, Arby’s, Wendy’s, Bob Evans, and many others. The site is near several large schools including, Cloverleaf Elementary School (1,128 students), Cloverleaf Middle School (2,315 students), and Cloverleaf High School (675 students). The property is minutes from Cleveland Clinic Akron General Lodi Hospital (25 beds). The site maintains beneficial proximity to several regional and international airports including Cleveland Hopkins International Airport (4.7 million annual passengers), Akron-Canton Regional Airport (449,731 annual passengers), and Ashland County Airport. The property is centrally located between two major Ohio cities, Columbus (state capital and most populous city, 905,748 residents) and Cleveland (second-most populous city in Ohio, 372,624 residents).

Contact Us About This Property

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