Listing Contacts
CJ Wallowitch
License: PA RS331565
Ken McEvoy
License: PA RS284266
Asking Price
$4,000,000
Address
16590 Conneaut Lake Road
Meadville, PA
Property Details
Asking Price
$4,000,000
Property Type
Retail, Development Site
Sub Type
Convenience Store with Gas
Lease Type
NNN
Rent Commencement
03/18/2002
Square Footage
5,500
Price/Sq Ft
$727.27
Cap Rate
5.47%
NOI
$153,060
Year Built
2002
Year Renovated
2019
Permitted Zoning
C - Commerical
Parking (spaces)
50
Ownership
Fee Simple
Property Description
Equity Retail Brokers is pleased to offer for sale to qualified investors an opportunity to acquire an absolute NNN ground lease to Sheetz, located at 16590 Conneaut Lake Road, Meadville, PA 16335. The property sits on 9.4 acres and is adjacent to an Aldi grocery store. A full remodel is slated for summer of 2019.
Property Highlights
  • Sheetz: $2,800,000 
  • Land with Utilities: $1,200,000
  • Stable income & no management responsibilities
  • 5 years remaining with two(2) more five(5) year options
  • Development Opportunity: 7 Acres of developable land behind the Sheetz is included in this sale. Land comes with all utilities and site work already completed. Also being sold with approvals to Build a 60,000 SF shopping center.