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Auto Service - Gas-Conv

Sheetz | 15 Years Remaining | Pittsburgh MSA | Limited Competition

640 Pike St, Meadowlands, PA 15347

Listing Price: $2,365,385

Cap Rate
5.20%
Tenant Name
Sheetz
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
4,966
Lease Type
NNN Ground Lease
Rent Per Square Feet
$24.77

Investment Overview

The Tenant, Sheetz, Inc., is subject to a new 15-year NNN corporate ground lease with the store to open in August 2024. The lease features rental increases of ten percent (10%) in each of the seven, five-year option periods. Sheetz will operate in a 4,966 square-foot store with a drive-through and 10 fueling pumps. The Tenant is making a significant investment into construction of this site providing additional security to the offering.

Investment Highlights

  • 1.52-Acre Parcel off Interstate-79 (49,195 VPD)
  • Growing Pittsburgh Metro with 62,454 Daytime Population Within 5-Miles
  • Dominant Brand in the Pittsburgh Market with Limited Competition

Broker of Record

  • Timothy B. Stephenson Jr.

    Regional Manager

    (215) 531-7000

    License(s) PA: RMR006104

    Pennsylvania

Financing By

Auto Service - Gas-Conv

Sheetz | 15 Years Remaining | Pittsburgh MSA | Limited Competition

Listing Price: $2,365,385

Cap Rate
5.20%
Tenant Name
Sheetz
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
4,966
Lease Type
NNN Ground Lease
Rent Per Square Feet
$24.77

Investment Highlights

  • 1.52-Acre Parcel off Interstate-79 (49,195 VPD)
  • Growing Pittsburgh Metro with 62,454 Daytime Population Within 5-Miles
  • Dominant Brand in the Pittsburgh Market with Limited Competition

Investment Overview

The Tenant, Sheetz, Inc., is subject to a new 15-year NNN corporate ground lease with the store to open in August 2024. The lease features rental increases of ten percent (10%) in each of the seven, five-year option periods. Sheetz will operate in a 4,966 square-foot store with a drive-through and 10 fueling pumps. The Tenant is making a significant investment into construction of this site providing additional security to the offering.

Broker of Record

  • Timothy B. Stephenson Jr.

    Regional Manager

    (215) 531-7000

    License(s): PA: RMR006104

    Pennsylvania

Financing By

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