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Sheetz | 20 Years Remain | Washington, D.C. MSA | Large 2+ Acre Parcel

McLearen Rd & Towerview Rd, Herndon, VA 20171

Listing Price: $7,900,000

Cap Rate
3.95%
Tenant Name
Sheetz
Years Remaining On Lease
20.0
Guarantor
Corporate Guarantee
Rentable SF
6,077
Lease Type
NNN Ground Lease
Rent Per Square Feet
$51.34

Investment Overview

The Tenant, Sheetz, Inc. is subject to a new 20-year NNN ground lease. The lease features rental increases of seven percent every five years during the base term and six, five-year renewal options. The approximate rent commencement is February 1st, 2022, and the tenant is mid-construction of its architecturally upgraded prototype. The prominent 2.69-acre site will feature a 6,077-square-foot red brick convenience store with 10 fuel dispensers, two drive-thrus, and an electric vehicle charging station.

Investment Highlights

  • New 20-Year Term; NNN Ground Lease
  • 7 Percent Every Five Years
  • Large 2.69-Acre Signalized Corner Location

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Auto Service - Gas-Conv

Sheetz | 20 Years Remain | Washington, D.C. MSA | Large 2+ Acre Parcel

Listing Price: $7,900,000

Cap Rate
3.95%
Tenant Name
Sheetz
Years Remaining On Lease
20.0
Guarantor
Corporate Guarantee
Rentable SF
6,077
Lease Type
NNN Ground Lease
Rent Per Square Feet
$51.34

Investment Highlights

  • New 20-Year Term; NNN Ground Lease
  • 7 Percent Every Five Years
  • Large 2.69-Acre Signalized Corner Location

Investment Overview

The Tenant, Sheetz, Inc. is subject to a new 20-year NNN ground lease. The lease features rental increases of seven percent every five years during the base term and six, five-year renewal options. The approximate rent commencement is February 1st, 2022, and the tenant is mid-construction of its architecturally upgraded prototype. The prominent 2.69-acre site will feature a 6,077-square-foot red brick convenience store with 10 fuel dispensers, two drive-thrus, and an electric vehicle charging station.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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