Low Rent | Sheetz | Washington PA
5,700 SF | Retail Building | Washington, PA 15301 | $2,808,000 ($493/SF) | 5% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,808,000
- Property Type
-
Retail
- Square Feet
- 5,700 SF
- Price / Square Foot
- $493
Listing Contacts
Matthew Gorman
Verified Profile
Thomas Finnegan
Verified Profile
Michael Shover
Verified Profile
- Property Info
Property Overview
CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this Sheetz property located on Racetrack Road in Washington, Pennsylvania. The Subject Property features an absolute-net ground lease with no landlord management or maintenance obligations making this an easy to own asset from anywhere. There are more than 10 years of term remaining in the base term and the lease features 10% rental increases in each of the seven, five year options to renew. This Sheetz lease is corporately guaranteed by Sheetz Inc, one of America’s fastest growing convenience stores with over 700 convenience locations throughout Pennsylvania, North Carolina, Virginia, West Virginia, Ohio and Maryland with plans to expand into Michigan. Revenues in 2023 exceeded $14 billion and Sheetz is currently ranked 27th on Forbes list of private companies.
Property Details
- Class
- B
- Year Built
- 2019
- Stories
- 1
- Property Subtype
- Grocery/Convenience Store, Freestanding
- Lot Size (sq. ft)
- 77,537 SF
Highlights
- Trophy location at a signalized hard corner with access from the only entrance & exit of Hollywood Casino at the Meadows and the Meadowlands Racetr
- The Subject Property features an absolute-net ground lease with no landlord management or maintenance obligations
- Corporately guaranteed by Sheetz, Inc. who was ranked 27th by Forbes list of largest private companies and whose revenue exceeded $14B in 2023
- This Sheetz lease has over 10 years of term remaining and features 10% rental increases in each of the seven, five year options to renew
- Situated within an affluent and growing demographic area illustrated by average household incomes ranging from $100,919-$120,942
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