June 9, 2024 – Hill Kanellos of Horvath & Tremblay has successfully completed the sale of a new construction Sheetz in Springboro, Ohio. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $3,700,000.
Sheetz is located at 800 West Central Avenue in Springboro, Ohio. The new construction stand-alone Sheetz convenience store and gas station was completed in 2024 and has 14+ years remaining on an Absolute NNN Ground Lease with seven (7), 5-Year Options. The lease features attractive 10% rent increases every 5-years throughout the primary lease term and at the start of each of the seven renewal option periods. The newly constructed Sheetz is well positioned along West Central Avenue (OH Route 73), the area’s primary commercial and commuter corridor which sees more than 27,900 vehicles per day. Sheetz enjoys outstanding visibility and frontage and has three points of entry and egress along two roads, allowing for excellent accessibility. The Property is 0.4-miles from Interstate 75 and is surrounded by national retailers and restaurants including Kroger and Walmart Supercenter, that drive traffic to the area. Additionally, the densely populated area provides a built-in customer base. Springboro is in southern Ohio, approximately 15-miles south of Dayton and 40 miles north of Cincinnati.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.