Chapel Hill Retail for Sale - Orange County
• The tenant recently signed a brand new 15-year lease with 7 (5-year) option periods to extend, demonstrating their commitment to the site
• The lease features a 10% rental increase in year 11 followed by 10% increases at the beginning of each option thereafter
• The lease is signed by the corporate entity - Sheetz, Inc.
• Founded in 1952, Sheetz is among America’s fastest-growing, family-owned and operated convenience store chains with over 740 locations
• Tenant pays for CAM, taxes, insurance, and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• The property is ideally situated within a dense retail trade area
• Sheetz is near several major shopping centers including University Place
(434K+ SF), Patterson Place (592K+ SF), New Hope Commons (465K+ SF), and others
• The surrounding tenants include Chick-fil-A, ALDI, Trader Joe’s, Lowe’s, Food Lion, Whole Foods, Home Depot, Walmart Supercenter, and others
• The strong tenant presence drives a steady stream of loyal, local consumers, promoting crossover exposure and contributing to the economy
• The area is experiencing significant growth with developments including:
- Wood Townhomes (119-unit multi-family, proposed)
- Homestead Gardens (130-unit multi-family, proposed)
- 11SixtyFive (48K SF medical office, proposed)
- Aura Booth Park (12K retail strip, under construction)
- University Place Hotel (150 rooms, proposed), and more
• The property is near Chapel Hill High School, East Chapel Hill High School, and University of North Carolina at Chapel Hill, making this a convenient option for students, faculty, and staff
• The property is located along M.L.K Jr. Boulevard with clear visibility and access to an average of 27,500 vehicles passing daily
• The property also benefits from nearby access to U.S. Highway 15 (54,000 VPD) and Interstate 40 (88,000 VPD), allowing for easy access
• The asset, which is slated to open in Q3 2025, will feature a state-of-the-art design using the highest-quality materials available
• The asset has excellent visibility and multiple points of ingress/egress
• The property is near numerous single-family communities and multi-family complexes, providing a direct residential consumer base
• The surrounding multi-family complexes include Timber Hollow (198 units), Chapel View (224 units), Shadowood (336 units), and others
• More than 111,700 residents and 71,300 employees support the trade area
• Residents within 1-, 3-, and 5-miles boast an affluent average household income of $158,945, $139,625, and $139,865, respectively
