201 N Jefferson St - Convenience Store FOR SALE


Mount Union, PA 17066
$475,000 USD
216-244-5667
201 N Jefferson St, Mount Union, PA for Sale
$475,000 USD
Convenience Store - FOR SALE
1/1
null | 7.88% Cap Rate

201 N Jefferson St
Mount Union, PA 17066


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.

OVERVIEW

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 2year renewal periods, with 5 additional single-year renewals to follow. This property will be sold on 8/26/2025 at 10:00am EST in the United States Bankruptcy Court of the Western District of Pennsylvania. NO BUYER BROKER FEES WILL BE PAID BY SELLER. ALL INFORMATION AND DETAIL INSTRUCTIONS CAN BE FOUND IN THE FOLLOWING DOCUMENTS. PLEASE ACCESS LINK. 1.) PURCHASE & SALE AGREEMENT 2.) COURT ORDER  3.) LEASES HTTPS://BUILDOUT.COM/SHARING/1172253-SALE?FOLDER=2905140 The sale of the Property shall be a sale in “AS IS”, WHERE IS” condition, without representations or warranties of any kind whatsoever, including but not limited to implied warranties of merchantability and/or fitness for a particular purpose if applicable, and the participation of the Purchaser in the sale process shall constitute an agreement and representation that the Purchaser has inspected the Property, and is purchasing the same solely on the basis of such inspection, and not as the result of any representation of any kind whatsoever by the Estate/Trustee, or its/her agents, except as specifically set forth herein. The successful buyer shall be required to provide a signed sales agreement, proof of funds to close, and make a deposit in the amount of $25,000.00 in readily available funds with the balance to be paid at closing, which shall occur no later than sixty (60) days from the date of the Order of Sale becomes a final, nonappealable order with all such payments to be via cash, certified check, or such other forms of assured and guaranteed payment as may be acceptable to the Trustee, Time Being of the Essence. Biding on the Property at the time of the sale hearing shall be in $5,000.00 increments. Possession shall be delivered at closing, which shall occur within said time frame at a mutually agreeable time at the offices of an attorney or title company selected by the Purchaser on a date mutually agreed upon by the Purchaser and the Trustee, no later than sixty (60) days after Purchaser’s receipt of a final, nonappealable Sale Order approving the sale of the Property contemplated herein, or upon discretion of the Parties the date may be extended for a reasonable period time not to exceed sixty (60) days. Formal tender is hereby waived. Title shall be conveyed by Trustee’s Quitclaim Deed, and the Trustee is, pursuant to 11 U.S.C. § 363 (f), specifically authorized to convey the Property, together with related rights of way, restrictions and easements, under and subject to the existing rights of way, restrictions and easements, if any, as appear of record or as may be apparent from an inspection of the Property.

FOR SALE DETAILS

PRICE

$475,000 USD

PRICE/SF

$113 USD /SF

CAP RATE

7.88%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sheetz

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1992

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

Commercial

APN/PARCEL ID

31-04-104

ASK ABOUT THIS PROPERTY

Kevin RileyTotum Realty AdvisorsMore Info
216-244-5667

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Kevin RileyTotum Realty AdvisorsMore Info
216-244-5667

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.