Address: 63 South White Street , , Pennsylvania, United States 15825
Type: Gas & Conv. Store
Cap Rate: 7.76%
Lease Type: Triple Net (NNN)
Annual Rent: $46,537
Net Operating Income: $46,537
Lease Term Remaining: 8.1 Year
Rental Increases: 1.50% Annual Increases
Options: One, Five-Year and One, Four-Year Option
Year Built: 1987/2006
Rentable Sq/Ft: 2,400 SF
Rent Sq/Ft: $19.39
Price Sq/Ft: $250
Lot Size: +/-0.40 Acres
The lease is guaranteed by Lehigh Gas Corporation. Lehigh has over 700 company run or dealer operated sites, however, in 2014 Lehigh Gas was acquired by a much larger company, CrossAmerica Partners. CrossAmerica is a publicly traded master limited partnership that is engaged in the wholesale distribution of motor fuels, consisting of gasoline and diesel fuel, and owns and leases real estate used in the retail distribution of motor fuels. They are publicly traded on the New York Stock Exchange under the symbol “CAPL.”
The subject property is an Exxon branded Lehigh gas station located at 63 South White Street in Brookville, PA. Brookville is a borough in Jefferson County in the U.S. state of Pennsylvania, located northeast of the city of Pittsburgh.
The subject property is situated just off West Main Street, which features an average daily traffic count that exceeds 9,480 vehicles. West Main Street intersects with West Main Street, which brings an additional 10,891 vehicles into Brookville on average each day. The subject property is located approximately one-mile off of Interstate 80, which experiences average daily traffic counts that exceed 25,580 vehicles. The average household income within a one-mile radius of the subject property is $63,312, which exceeds the national average.
The subject property benefits from being positioned within a retail corridor consisting of a variety of local and national tenants. Major national tenants include: Giant Eagle Supermarket, Burger King, Arby’s, Dairy Queen, Pizza Hut, Denny’s, S&T Bank, Sheetz, Chevrolet, as well as many more. Located a half of a mile from the subject property is Brookville Hospital, a 35-bed critical access hospital. In June of 2018, plans for a three-story medical office building were announced, which will house primary and specialty care super clinics for various providers. Located one-mile from the subject property is Brookville High School. The Brookville public school district serves a resident population of 12,485 and features an annual enrollment of 1,610 students.
Brookville still supports the lumber industry, but coal has given way to natural gas. It now also features several small and medium-sized businesses and some significant manufacturing operations. Interstate 80, which traverses the United States, was constructed just north of the Brookville borough and continues to stimulate the local economy. Tourism is also important, which is stimulated by the Brookville Historic District. Known as the “Gateway to Cook Forest”, many travelers pass through Brookville. It is also home to the annual Western PA Laurel Festival each summer and to the Victorian Christmas Celebration each December. The community’s historic preservation efforts have earned Brookville many accolades. Brookville is located approximately 15 miles from Clarion University, Penn State-DuBois campus, Indiana University- Punxsutawney campus, Dubois Business College, and Triangle Technical School.
Broker of Record: Anthony Palumbo – License # RM423958