"York"

York, PA

$2,000,000 Opening Bid

NNN INCOME OPPORTUNITY

SHEETZ
Gas Station & Convenience Store
4025 West Market Street
York, West Manchester Township,
Pennsylvania 17408

$225,480 Net Annual Income
Sheetz Corporate Lease

Online Bidding Opens
MONDAY, JANUARY 6, 2025

Online Bidding Closes
WEDNESDAY, JANUARY 8, 2025
AT 11:00 A.M.

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

GENERAL INFORMATION:
Triple net ground lease to Sheetz, Inc., originally dated October 18, 2002 and as amended by subsequent addenda. The lease is in a five-year extension period, running through April 30, 2028, with an annual rent of $225,480 NNN. There are 6 remaining five-year options at 10% per period increased base rent. The extension beginning May 1, 2028 has an annual rent of $248,028 NNN. Tenant pays for all maintenance, insurance and annual real estate taxes.

LOCATION:
The property is situated in the West York area of York County, Pennsylvania. The property is located at the signalized intersection of West Market Street (US-30), North Baker Road and Trinity Road (PA-616). Traffic counts (AADT) at the intersection are 19,790 cars per day along West Market Street and 9,871 along Trinity Road. West Market Street merges with US-30 a short distance east of the property, providing a confluence of traffic coming from the Greater York region. The property is strategically positioned among a number of large corporations and employers in the immediate area, including Goodyear, DHL, FedEx, Frito-Lay, Vulcan Materials, Kinsley Materials, A&S Kinard and Georgia Pacific, each of which provide dedicated, regular traffic to and from the area. A number of residential subdivisions, recreational facilities and agricultural operations are also in the surrounding location.

IMPROVEMENTS:
Freestanding masonry convenience store building, fuel island and car wash. The primary building was originally constructed in 2002 and expanded in 2023 to contain 6,128 square feet of gross building area, according to public tax records. Car wash contains 936 square feet of gross building area. The fuel islands consist of 5 two-sided pumps (10 fueling stations) with covered awning.

SITE:
2.6 acres, more or less

Concrete and asphalt paved with parking for 38+ vehicles. Public water and sewer.

Zoning CS – Commercial Shopping – According to the West Manchester Township zoning code, “The purpose of this district is to accommodate the everyday commercial needs of the Township’s residents. The areas designated for this zone are characterized by a majority of converted residences along Carlisle Road, Richland Avenue and West Market Street. Consequently, flexible design standards have been imposed to facilitate the preservation of converted residences. Overall retail size has been limited to prevent large-scale commercial uses that would be too intensive for adjoining residential neighborhoods.”

Site Plan
Zoning Map
GIS Map
Active Tanks Summary
Inactive Tanks Summary

TITLE:
The property is in fee simple and sold free and clear of liens. York County Deed Book 1574, Page 0214, et seq.

TAXES:
Published annual real estate taxes are $11,675.28, based on a full value assessment of $1,279,240, plus a school tax of $44,027.46 per year and a $45 annual fee to West Manchester Street Light authority. The taxes are paid by the tenant.

ADDITIONAL INFORMATION:
Please complete the Waiver and Confidentiality agreement to receive the ground lease and associated addenda and additional due diligence information.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $100,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to 10:00 A.M. Wednesday, January 8, 2025. The deposit will be held in escrow until the completion of the auction and will be retained from the winning bidder. Other bidder deposits will be returned within one business day. Interested parties who do not provide a deposit in advance as stated above will not be permitted to bid. The deposit shall be increased to 10% of the purchase price by cashier’s check or wire transfer by 4:00 P.M. on the day of auction.
Deposit Escrow Agreement

Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place before 5 P.M. Eastern time on Friday, March 14, 2025. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the Purchaser. All adjustments, including taxes, rent, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of settlement and assumed thereafter by the Purchaser. Security deposit, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing lease of the tenant in place, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to jurisdictional violation notices, if any. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Seller is unable to convey good and marketable title, the Purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the Purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.

The Property is being sold subject to the tenant’s right of first refusal as designated in the subject lease. Said right of first refusal must be exercised within 15 days of being notified as to a bona fide offer. In the event that tenant exercises the right of first refusal, Purchaser shall receive a refund of their deposit as specified above, and the Contract will be deemed to be null and void and of no effect. Purchaser shall have no further claim against the Seller or Auctioneers.

In Collaboration With:

Hereafter Auctions (PA License No. AU006154)
&
Country Manor Realty, Inc. (Broker License No. RM05119A)