Bought with Joshuan Le • Coldwell Banker Realty
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Key Details
Sold Price $2,931,250
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PADA2044686
Year Built 2010
Annual Tax Amount $33,509
Tax Year 2024
Lot Size 2.189 Acres
Property Sub-Type Retail
Property Description
This 6,276 SF Sheetz located on 2.19 acres in H arrisburg, Pennsylvania. The property operates under an absolute NNN ground lease, with Sheetz responsible for all expenses, ensuring a fully passive investme nt for the landlord. The lease includes a 10% rental increase in each option period, providing consistent income growth throughout the term. This high-performing location features Sheetz's largest prototype, including an automated drive-thru car wash, which enhances its consumer appeal and revenue potential. The property sits on a signalized corner with entrances on both North 61st Street and Derry Street, offering excellent visibility and accessibility. With a high traffic count of 18,899 VPD along Derry Street and 48,922 VPD along Route 322, this site attracts significant commuter and customer traffic. The lease is corporately guaranteed by Sheetz, Inc., one of America's fastest-growing convenience store chains, with over 700 locations and revenues exceeding $14 billion in 2023. Sheetz continues to expand, with plans to grow further into new markets, including Michigan. This location is situated in a prime, high-traffic corridor just 5.5 miles outside of downtown Harrisburg, surrounded by a strong regional retail base. The property is also adjacent to a McDonald's, further boosting its visibility and customer draw. With zero landlord responsibilities, built-in rental escalations, and Sheetz's commitment to the site, this investment offers longterm stability and potential for growth in an established market. Current NOI = $166,980
Location
Province PA
County Dauphin
Area Swatara Twp (14063)
Zoning COMMERCIAL GENERAL
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Exterior
Garage Spaces 44.0
Water Access N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Rutherford
Middle Schools Central Dauphin East
High Schools Central Dauphin East
School District Central Dauphin
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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Kory Prince
Owner/Director of Operations | -V61339
Owner/Director of Operations -V61339
