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7-Eleven
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  Sheetz


Average Property & Lease

Average Sale Price$3,212,518
CAP Rate (12mo avg with 10+ lease term)5.15%
NOI$163,435
$/Square Foot$565.70
Building Size5,000 - 6,500 sf
Lot Size1 - 2.5 acres
Lease Term15 +/- Years
Escalations10% in option period
CREDIT RATING
N/A
S&P
N/A
Moody's
view credit rating chart
View Net Lease Property Listings at CALKAIN.COM Last Updated: October 31, 2016
Net Lease Advisor Overview

Net lease assets occupied by Sheetz are very sought after C-store investments. Investors are attracted to these since most of the locations are ground leases and because of the stickiness of this tenant. With Sheetz investing a substantial amount upfront to build their store and install equipment, they are very likely to stay in a given location even in option periods. What makes Sheetz unique from other C-stores is their made-to-order food, which provides for significant revenue generation compared to conventional C-stores. In addition to being attractive for these reasons, investors also feel that Sheetz is a well-protected concept in economic downturns.

Pros

Cons

  • Corporate guaranteed
  • Ground leases
  • Private Company
  • Regional Operator
  • Possible environmental cleanup costs at some point in future
Tenant Description

Bob Sheetz founded Sheetz, Inc. in 1952 when he purchased one of his father's five dairy stores located in Altoona, Pennsylvania. Sheetz is a family owned convenience store chain, a private company that is in business for more than 60 years.

Sheetz surpasses many convenience stores with its levels of efficiencies in foodservice, distribution and technology. Sheetz Inc., based in Altoona, Pa., has revenues of about $6 billion from its more than 535 locations throughout Pennsylvania, North Carolina, Maryland, Virginia, Ohio and West Virginia.

The company has more than 16,000 employees working at stores, corporate offices and support sites. For the first time in 2014, the company appeared on Fortune magazine's annual "100 Best Companies to Work For" list, debuting at No. 87. In 2015, it was again named a Top Place to Work in Pennsylvania by the Team Pennsylvania Foundation and the Pennsylvania Department of Community and Economic Development.
SHEETZ TREND
CAP Rate

2015 avg: 5.25%

2016 avg: 5.05%

RECENT SALES

Manassas, VA | 4.80%

Raleigh, NC | 5.10%

MORE INFO
www.sheetz.com