11 Pike St, Houston, PA 15342

Property Details for 11 Pike St

Year built

2024

Lot size

1.52 lot acres

Property type

Retail properties & Spaces

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 5,000 square foot Sheetz convenience store and gas station located at 11 E Pike St, Houston, PA 15342. The property sits on a 1.52-acre lot at a signalized intersection with high visibility (22,803 vehicles per day). This strategically located site benefits from three street access points and proximity to major roadways, including I-79, I-70, and Route 19, ensuring excellent accessibility within the Pittsburgh Metro area. The property is subject to a 15-year NNN ground lease with Sheetz, Inc., commencing June 20, 2024, offering significant long-term stability. The lease includes attractive rent increases of 5% every five years and 10% during each option period (seven five-year options). Sheetz, a rapidly expanding, privately held convenience store chain, operates a state-of-the-art prototype featuring indoor and outdoor seating and 12 fueling pumps. The tenant's significant investment in construction further enhances the security of this offering. The property's location near Canonsburg Middle and High Schools (2,583 students) and Allegheny Health Network's Canonsburg Hospital (104 beds) contributes to consistent customer traffic. The asking price is $4,147,454, representing a 5.50% cap rate with a current NOI of $228,110. This is a rare opportunity to acquire a high-performing asset with a strong tenant and significant long-term growth potential. The property was built in 2024 and enjoys a corporate guarantee on the lease.

Location Insight

City

Houston

County

Washington

State

Pennsylvania

Longitude

-80.2094

Latitude

40.2505