Sheetz 201 N Jefferson St

Investment Highlights

Corporate guarantee Addendum drafted in 2019 to provide additional renewal periods, as Sheetz third and final renewal period was set to expire on May 31, 2022. Absolute NNN lease The addendum provided (5) 2-yr renewal options and then (5) 12-month renewal options to follow

Executive Summary

Introducing 201 N Jefferson St, a prime commercial property in Mount Union, PA which has been ground leased to Sheetzsince 1976. Having invested in continual updates over the past 4 decades, Sheetz's NNN tenancy is now on it's first of five 2-year renewal periods, with 5 additional single-year renewals to follow. This property is offered as part of a Bankruptcy proceeding and presents an opportunity to acquire investment-grade tenancy for an unusually low price. Additionally, there is substantial upside potential to adjust rents to market rates at the end of the currently-prescribed renewal periods. *This property can be bundled with another NNN-leased Sheetz asset in McConnellsburg, PA.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Convenience Store Convenience Store General Retail Fast Food Convenience Store
• Building Size    4,194
• Year Built    1992
• Price    450,000
• Price Per SF    107
• Cap Rate    8.32
• NOI    37,440
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.80
• Land Acres    0.12 AC