Sheetz Ground Lease | Cincinnati MSA
New 15-Year Abs NNN Ground Lease | Near 121,000+ VPD Motorway
Marketing description
The subject Sheetz is strategically positioned within Renaissance Pointe, a landmark $200 million, 50-acre mixed-use development that is poised to become one of Southwest Ohio's premier entertainment, retail, and lifestyle destinations. Ideally situated at the intersection of OH-122 and Union Road with immediate access to Interstate 75, Renaissance Pointe will feature an exceptional mix of retail, restaurants, entertainment, hospitality, office, and residential uses, creating a vibrant live-work-play environment that will serve the greater Cincinnati-Dayton corridor. The subject property's location at the entrance to this transformative development positions it to capture significant fuel and convenience demand from residents, employees, visitors, and travelers alike.
The centerpiece of the development is a 214,000-square-foot multi-purpose arena and event promenade capable of hosting hockey, arena football, soccer, lacrosse, concerts, trade shows, graduations, family entertainment, and community events. Supporting the arena will be 125,500 square feet of retail and restaurant space, 48,400 square feet of office space, two hotels totaling 304 guest rooms, 336 multifamily apartments, 32 townhomes, a medical office building, public gathering spaces, and more than 2,400 parking spaces. Upon completion, Renaissance Pointe is projected to attract more than 425,000 visitors annually, generate approximately $61 million in first-year economic impact, and create 660 new full-time jobs, establishing the project as a major regional destination for commerce and entertainment.
Beyond the development itself, Renaissance Pointe is surrounded by significant existing and planned growth, including additional multifamily communities, future townhome developments, medical office buildings, and expanding residential neighborhoods. The site also benefits from outstanding regional accessibility, located approximately 25 minutes from northern Cincinnati and 20 minutes from Dayton, allowing it to draw visitors from one of the Midwest's largest combined metropolitan regions. Positioned within this rapidly expanding mixed-use district, the subject Sheetz is exceptionally well situated to capitalize on sustained increases in commuter traffic, tourism, employment, and residential growth, reinforcing its long-term investment appeal within one of Middletown's most significant commercial developments.
Investment highlights
- 15-year absolute NNN ground lease to Sheetz, a leading convenience store and fuel chain with over 800 locations nationwide.
- 5% rental increases every five (5) years in initial term and 10% rental increases every five (5) years in each option period, ensuring consistent income growth.
- Tenant covers all taxes, insurance, maintenance, roof, structure, and parking lot, providing a fully passive investment.
- Sheetz reported estimated annual revenue of approximately $11 billion in 2025, securing the #43 spot on Forbes' 'America's Largest Private Companies' list.
- Sheetz is expected to open 30-40 new locations nationwide in 2026, with a continued focus on the Midwest and Southeast as it builds density in newer markets like Ohio, Michigan, and North Carolina.
- Sheetz is targeting a milestone of 1,000 store locations by 2028.
- High-visibility location at the signalized four-way intersection of Union Rd & OH-22 (combined 25,000+ AADT), with multiple entry/exit points allowing for maximum accessibility.
- High-traffic location just off Interstate 75 (121,598 AADT), ideal for a Sheetz location.
- Located approximately 28 miles north of Cincinnati and approximately 20 miles south of Dayton, this Sheetz benefits from access to heavy regional and interstate traffic along I-75, driving higher fuel sales, in-store purchases, and long-term growth potential.
- Strategically positioned within five miles from major employers such as Cleveland-Cliffs Middletown Works (2,400+ employees), Atrium Medical Center (1,500+ employees), Amazon (750+ employees), DHL (300+ employees), and Walmart (200+ employees).
- 87,130 residents live within five miles of the site, providing a large built-in customer base.
- High average annual household income of $106,060 (projected to increase by more than 16% to $124,050 by 2031) within a three-mile radius of the property.
- This Sheetz is part of Middletown's 'Renaissance Pointe,' a $200M, 50-acre mixed-use development project that will feature a 214,000-SF multi-purpose arena, supported by a mix of Class-A retail, food and beverage, entertainment, hospitality, office, as well as multi-family residential developments.
- Constructed in 2026, the property features a 6,139-SF standalone C-store with a drive-thru lane and six (6) canopied fuel pumps, enhancing the property's revenue potential and customer draw.
- A large 3.87-acre parcel offers ample parking and easy ingress/egress, catering to high-traffic convenience store operations.
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