Sheetz & Aspen Dental | Johnstown, PA 2 Retail Properties Offered at $4,850,000 in Johnstown, PA

CBRE is pleased to exclusively present for sale this dual-tenant NNN offering occupied by Sheetz and Aspen Dental, two nationally recognized and category-leading tenants located within Richland Town Center, a 575,000+ SF Walmart-anchored regional power center. Sheetz, a $14B+ convenience store chain and the #27 largest private company in the U.S. (Forbes 2024), and Aspen Dental, the largest branded dental network in the country with 1,100+ locations, have each operated at this site for more than a decade and have recently extended their leases—20 years for Sheetz and 10 years for Aspen—ensuring long-term income durability.
Both tenants benefit from passive ownership structures with corporately guaranteed leases and scheduled rental increases. Sheetz operates under a true absolute-net lease requiring zero landlord obligations and features fixed rent escalations (5% in Year 11, 10% in Year 16) plus six (6) five-year renewal options with 10% increases. This site is the only Sheetz located in front of a Walmart nationwide (all other Walmart-front convenience pads are Murphy Oil), a strategic placement that helped drive the tenant’s decision to renew for a full 20-year term. Aspen Dental’s NNN lease includes clearly defined, limited landlord responsibilities for structural components, roof, and major systems, along with a 7.5% rent increase in 2031 and 10% increases in each of three (3) five-year renewal options.
The property is positioned at the main entrance to Richland Town Center at the signalized intersection of Elton Road (14,724 VPD) and US-219 (30,536 VPD), capturing all inbound and outbound traffic to Walmart and the center. The location benefits from strong surrounding demographics, including $90,000+ average household income within three miles and over 71,000 residents within seven miles, as well as demand generated by the nearby University of Pittsburgh–Johnstown campus. In addition, Aspen Dental is the only branded dental office within a 35-mile radius, and Sheetz serves as the exclusive gas operator for the center, creating built-in competitive protection and long-term tenant retention.