750 Hebron Rd Heath, OH 43056-1350
- Commercial land
- 8,664 SF
- 1.07 lot acres
Nov 27, 2024
Current Use by Public Records
- Commercial land
Property Details for 750 Hebron Rd
- Lot size
- 1.07 lot acres
- Property size
- 8,664 SF
- Property type
- Commercial land
- APN
- 030-093366-00.000
- APU
- 3009336600000
Description
This exceptional investment opportunity presents a 4,959 square foot Sheetz convenience store and gas station located at 750 Hebron Rd, Heath, OH 43056. The property sits on a 1.6-acre lot and boasts a 15-year absolute NNN ground lease commencing July 24, 2023, and expiring August 31, 2038. The lease includes 5% rental increases every five years, providing significant long-term growth potential. The property benefits from a corporate guarantee and a strong net operating income (NOI) of $192,000, resulting in a 5.55% cap rate. Built in 2023, this Sheetz enjoys excellent visibility at a signalized intersection with high daily traffic counts (34,350 vehicles). Its prime location within a dense retail corridor, near major traffic drivers, schools, and a hospital, ensures consistent customer traffic. The surrounding area features strong demographics, with a high average household income and significant population density (69,384 residents within a five-mile radius). This property is ideally suited for 1031 exchange investors seeking a passive income stream with built-in rent escalations and minimal landlord responsibilities. The property's proximity to major highways and airports provides easy accessibility. This is a rare opportunity to acquire a high-performing Sheetz ground lease in a thriving Ohio market. The asking price is $3,460,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Heath
- County
- Licking
- State
- Ohio
- Longitude
- -82.4371
- Latitude
- 40.0312
- CBSA code
- 18140
- CBSA name
- COLUMBUS, OH METROPOLITAN STATISTICAL AREA
