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5999 Ohio 122
Middletown, OH 45005
Sheetz · Retail Property For Sale


Investment Highlights
- 15-year absolute NNN ground lease to Sheetz, a leading convenience store and fuel chain with over 800 locations nationwide.
- Tenant covers all taxes, insurance, maintenance, roof, structure, and parking lot, providing a fully passive investment.
- 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.
- 5% rental increases every five (5) years in initial term and 10% rental increases every five (5) years in each option period.
- Sheetz reported estimated annual revenue of approximately $11 billion in 2025, securing the #43 spot on Forbes’ “America’s Largest Private Companies”
- Sheetz is targeting a milestone of 1,000 store locations by 2028.
Executive Summary
Positioned just off Interstate 75, with traffic counts exceeding 121,000 vehicles per day, this Sheetz occupies a highly visible corner at the signalized intersection of Union Road and OH-122, where combined traffic counts exceed 25,000 vehicles daily. Multiple points of ingress and egress provide exceptional accessibility, supporting strong customer convenience and traffic flow. The property serves a robust and growing consumer base of nearly 127,000 residents within a five-mile radius, with an average household income of $95,514.
The location benefits from proximity to several major employers, including Cleveland-Cliffs Middletown Works, Atrium Medical Center, Amazon, DHL, Walmart, and other significant regional employment centers, providing a steady stream of daytime consumers. Strategically situated approximately 28 miles north of Cincinnati and 20 miles south of Dayton, the property captures substantial regional and interstate traffic along the I-75 corridor, supporting fuel demand, convenience sales, and long-term growth. Additional consumer traffic is generated by Cincinnati Premium Outlets, located less than five miles away and attracting more than 3.6 million visitors annually. The surrounding trade area is further strengthened by a dense concentration of national and regional retailers, including Walmart Supercenter, Lowe’s Home Improvement, Meijer, Kroger Marketplace, Chick-fil-A, Starbucks, and numerous other established brands that contribute to the area's strong retail fundamentals and economic vitality.
The location benefits from proximity to several major employers, including Cleveland-Cliffs Middletown Works, Atrium Medical Center, Amazon, DHL, Walmart, and other significant regional employment centers, providing a steady stream of daytime consumers. Strategically situated approximately 28 miles north of Cincinnati and 20 miles south of Dayton, the property captures substantial regional and interstate traffic along the I-75 corridor, supporting fuel demand, convenience sales, and long-term growth. Additional consumer traffic is generated by Cincinnati Premium Outlets, located less than five miles away and attracting more than 3.6 million visitors annually. The surrounding trade area is further strengthened by a dense concentration of national and regional retailers, including Walmart Supercenter, Lowe’s Home Improvement, Meijer, Kroger Marketplace, Chick-fil-A, Starbucks, and numerous other established brands that contribute to the area's strong retail fundamentals and economic vitality.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Service Station
Building Size
6,139 SF
Building Class
B
Year Built
2026
Price
$5,110,000
Price Per SF
$832.38
Cap Rate
5.50%
NOI
$281,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
3.87 AC
Parking
40 Spaces (6.52 Spaces per 1,000 SF Leased)
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