Map of Property

NNN-Leased Sheetz, Mount Union, PA - Bankruptcy Auction Listing Details & Market Data

201 North Jefferson Street, Mount Union, PA 17066

  • For Sale $450,000
  • Property Type Retail - Freestanding
  • Property Size 3,000 SF
  • Units 1
  • Lot Size 0.8 Acre
  • Property Tenancy Single Tenant
  • Date Updated Apr 10, 2024
Situated along North Jefferson Street of Mount Union in Huntingdon County, PA, this .8 acre property, just half of mile from Route 22 . This property is ground-leased to Sheetz, one of only three gas stations in Mount Union, on an absolute NNN basis.Introducing 201 N Jefferson St, a prime commercial property in Mount Union, PA which has been ground leased to Sheetz since 1976. Having invested in continual updates over the past 4 decades, Sheetz's NNN tenancy is now on it's first of five 2-year renewal periods, with 5 additional single-year renewals to follow. This property is offered as part of a Bankruptcy proceeding and presents an opportunity to acquire investment-grade tenancy for an unusually low price. Additionally, there is substantial upside potential to adjust rents to market rates at the end of the currently-prescribed renewal periods. *This property can be bundled with another NNN-leased Sheetz asset in McConnellsburg, PA.

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Attachments

Highlights

  • - Corporate guarantee
  • - Absolute NNN lease
  • - Addendum drafted in 2019 to provide additional renewal periods, as Sheetz third and final renewal period was set to expire on May 31, 2022.
  • - The addendum provided (5) 2-yr renewal options and then (5) 12-month renewal options to follow
  • - Renewals at 4% rent bumps for each 2-yr renewal and 2% bumps for the subsequent 1-yr renewals.
  • - Can be offered in a portfolio with a second NNN-Leased Sheetz property in McConnellsburg, PA.
  • - Stalking horse bid has been received at $800k for both assets. (Minimum bid for this property alone must be > $450k)
  • *All offers are subject to Bankruptcy Court approval, public hearing, and an open auction in court.*

Contacts

broker

Paige Myers

Totum Realty Advisors

(412) 745-5000

Location

Getting Around

  • Walk Score ®

    Somewhat Walkable (59)

  • Bike Score ®

    Somewhat Bikeable (34)
Powered by Walk Score ®
  • City Mount Union, PA
  • Zip Code 17066

Points of Interest

  • Huntingdon

    9.51 miles

  • Sheetz

    0.00 miles

  • Exxon

    0.14 miles

  • Martin Oil Co. / 24 hour fueling site

    2.34 miles

  • Kwik Fill

    4.90 miles

  • Giant Fuel

    9.25 miles

  • Sheetz

    9.34 miles

  • AMERIgreen

    9.89 miles

  • Pacific Pride

    9.89 miles

  • SGL 112 Parking

    1.70 miles

  • McDonald's

    0.42 miles

  • Riverside Cafe

    0.43 miles

  • Dairy Queen

    0.48 miles

  • Original Italian Pizza

    0.49 miles

  • Original Itialian Pizza

    2.97 miles

  • Top's Diner

    4.99 miles

  • Mill Stone Manor Restaurant

    5.24 miles

  • Miller's Diner

    5.64 miles

  • The Hidd'n Valley Restaurant

    6.31 miles

  • Hotel Wayne

    6.65 miles

  • Weis

    0.32 miles

  • Giant

    9.21 miles

Contact Listing Broker

broker

Paige Myers

Totum Realty Advisors

(412) 745-5000