632 Carey Ave, Wilkes Barre, PA 18702

Matthews Real Estate Investment Services is pleased to present a compelling net lease investment opportunity featuring a Turkey Hill convenience store and gas station located at 632 Carey Ave in Wilkes Barre, Pennsylvania. This absolute triple-net (NNN) ground lease property offers investors a passive, landlord-responsibility-free investment with a stable tenant that has continuously operated at this location since 1988.

The property features excellent visibility and accessibility along Carey Avenue, which sees traffic counts exceeding 13,766 vehicles per day. The site benefits from strong demographics, with more than 117,306 residents within a 5-mile radius. Turkey Hill, owned by EG Retail (America), LLC, operates more than 1,400 convenience stores across the United States and is a subsidiary of EG Group, an international convenience retail leader with a B credit rating from Fitch. EG America ranks as the 4th largest convenience store operator in the United States.

The tenant exercised a 10-year lease extension in 2018, demonstrating strong commitment to this location. The lease includes rent increases of 8% every 5 years and offers four additional 5-year renewal options. As an additional income stream, the property includes a Lamar billboard that generates $4,400 annually with a lease expiration of December 31, 2028 and one 25-year renewal option. With approximately 1.5 years remaining on the current lease term and multiple renewal options, this investment provides long-term income stability backed by a credit-rated national operator.