1800 Memorial DrLancaster, OH 43130

  • Retail properties
  • 6,139 SF
For Sale
$4,950,000 View listing

Property Details for 1800 Memorial Dr

Year built
2024
Lot size
2.17 AC
Property size (Sq ft)
6,139 SF
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents a 15-year absolute NNN ground lease for a Sheetz convenience store and gas station located at 1800 N Memorial Dr, Lancaster, OH 43130. The 6,139 square foot property sits on a 2.17-acre lot and boasts a 5.50% cap rate with a current NOI of $272,000. The asking price is $4,950,000. Built in 2024, this Sheetz benefits from a corporate guarantee and rent bumps built into the lease, ensuring consistent income growth. The lease commenced May 16, 2024, and expires May 31, 2039. Rent increases of 5% every five years are included in the initial term, with 10% increases every five years during option periods. This high-visibility location at the signalized intersection of North Memorial Drive and Pierce Avenue sees nearly 50,000 vehicles daily. Its prime position along Lancaster's main retail corridor places it near other major national retailers like Kroger, Target, and Walmart. The property's proximity to River Valley Mall and Fairfield Medical Center, along with numerous apartment complexes, ensures a substantial and stable customer base. The surrounding area has a population of 52,417 within a five-mile radius, with an average annual household income of $85,764. This property is ideal for 1031 exchange investors seeking a passive income stream with significant upside potential.

1800 Memorial Dr, Lancaster, Ohio

Location Insight

City
Lancaster
County
Fairfield
State
Ohio
Latitude
39.7321
Longitude
-82.6178

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].