Overview

Description

Foresite Capital Partners, in cooperation with Hanna Commercial Real Estate, a licensed Ohio broker, is pleased to present a new construction Sheetz located at 38265 Chestnut Ridge Road in Elyria, Ohio. The subject offering features a new 15-year Absolute NNN ground lease, with 10% rental increases every 5 years starting in Year 11 of the initial term. Elyria, Ohio is a vibrant suburb home to 52,800 people, located 28 miles west of downtown Cleveland. The property is located on an oversized 3.15-acre parcel, at a signalized hard corner, providing excellent visibility and access. The site is positioned in a strong retail corridor across from a Walmart anchored shopping center. The surrounding area is home to 90,000 residents in a five-mile radius that have an average household income of $80,000. The asset’s strong fundamental real estate, combined with a new 15-year Absolute NNN ground lease to a blue-chip gas/convenience store tenant, make it an excellent net lease investment opportunity.

Highlights

• 15 YEAR ABSOLUTE NNN GROUND LEASE | EXCELLENT CREDIT
• SIGNALIZED HARD CORNER NEAR WALMART SUPERCENTER
• LIMITED FUEL COMPETITION | EXCELLENT TRAFFIC & ACCESS
• STRONG DEMOGRAPHICS | CLEVELAND SUBURB | LOW COST OF LIVING
• NEW CONSTRUCTION | OVERSIZED 3.15 ACRE PARCEL

Documents

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