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SHEETZ GROUND LEASE, Waynesboro, VA

SHEETZ GROUND LEASE

Waynesboro, VA

Price $4,200,000
Cap Rate 4.50%
NOI $189,000
Lease Term 15 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 5% Increases Every Five Years During The Initial Term And 10% Rental Increases In Option Periods
Year Built 2022
Building Size 4,313 SF
Lot Size 1.36 Acres (59,242 SF)
Status Available
Lead Broker Information 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

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

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

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GROUND LEASE TO CORPORATE SHEETZ
» New 15-year absolute NNN ground lease with rare rental increases during the initial term and option periods
» 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-VISIBILITY LOCATION IN AN ESTABLISHED COMMUNITY POISED FOR GROWTH
» Located along U.S. 340/Rosser Avenue (29,000 AADT)
» Excellent freeway visibility with immediate access to Interstate 64 (43,000 AADT)
» Walking distance to Brandon Ladd Apartments and Windigrove Apartments (234 units) and surrounded by high-density, single family housing developments
» 40,024 residents within five miles, establishing a reliable customer base for the site
» High average annual household income of $92,205 within a one-mile radius with a projected 11 percent increase by 2026, poising Sheetz and the immediate trade area for concurrent growth
» 30 minutes from the city of Charlottesville and the University of Virginia (27,115 enrollment)

PROMINENT LOCATION NEAR STRONG TRAFFIC DRIVERS
» In a dense retail corridor with nearby national brands such as Walmart Supercenter, Target, The Home Depot, Lowe’s Home Improvement, ALDI, Chick-fil-A, Verizon Wireless, Panera Bread, Popeyes, Starbucks, and many more
» A brand new Chipotle, Popeyes, Aspen Dental, and Take 5 are being constructed adjacent to the site
» Less than five miles from Augusta Health Hospital (255 beds, 230-acre campus) and a new one-million-square-foot Amazon Fulfillment Center (approx. 500 employees)
» Near well-attended schools including Mary Baldwin University (2,184 students), Waynesboro High School (844 students), and Kate Collins Middle School (697 students)
» Six major hotels are located within a one-mile radius with 446 rooms, providing a regular customer base for the site

NEW 2022 CONSTRUCTION BUILT TO TENANT’S LATEST PROTOTYPE
» Location includes a freestanding c-store, a drive-thru, and six (6) canopied gas pumps for added customer convenience
» Large 1.36-acre lot with ample parking available
» Easy access location with multiple entry and exit routes



Property Description

Sheetz is located along U.S. 340/Rosser Avenue (29,000 AADT), just off a signalized stop. The property has excellent visibility with immediate access to Interstate 64 (43,000 AADT). The site is within walking distance of Brandon Ladd Apartments and Windigrove Apartments (234 units) and is surrounded by high-density, single family housing developments. 40,024 residents live within five miles, establishing a reliable customer base for the site. The community is affluent with an average annual household income of $92,205 within a one-mile radius and is projected to increase 11 percent by 2026, poising Sheetz and the immediate trade area for concurrent growth. The property is centrally located just 30 minutes from the city of Charlottesville and the University of Virginia (27,115 enrollment).

The site is in a prominent location near strong traffic drivers. In a dense retail corridor with nearby national brands such as Walmart Supercenter, Target, The Home Depot, Lowe’s Home Improvement, ALDI, Chick-fil-A, Verizon Wireless, Panera Bread, Popeyes (coming soon), Starbucks, Aspen Dental (coming soon), and many more. The site is less than five miles from Augusta Health Hospital (255 beds, 230-acre campus) and a new one-million-square-foot Amazon Fulfillment Center (approx. 500 employees). The property is situated near many well-attended schools including Mary Baldwin University (2,184 students), Waynesboro High School (844 students), Kate Collins Middle School (697 students), and many others. Six major hotels are located within a one-mile radius with 446 rooms, providing a regular customer base for the site.

Contact Us About This Property



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