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Auto Service - Gas-Conv

Sheetz

306 Ann St, Parkersburg, WV 26101

Listing Price: $2,226,804

Cap Rate
4.85%
Tenant Name
Sheetz
Years Remaining On Lease
11.0
Guarantor
Corporate Guarantee
Rentable SF
5,420
Lease Type
NNN Ground Lease
Rent Per Square Feet
$19.93

Investment Overview

Location Highlights: • Centralized Location – The Site is approximately is a (2)-hour commute from both Columbus, OH & Pittsburgh, PA • Fifth Street Bridge - Sheetz is located adjacent to the Ohio River which borders Ohio & West Virginia – the Fifth Street Bridge is the only non-toll bridge connection between the two States for (10) miles • Stable Middle-Class Demographics – Average Household Income is $55,621 with a steadily increasing Trade Population of 61,212 residents within a (5)-mile radius • Major Economic Drivers – Subject Site benefits from its proximity to major submarket traffic generators including Camden Clark Hospital (270 Beds – 977K Annual Visits), and multiple historical landmarks including, the Oil & Gas Museum, Blennerhassett Museum of Regional History, & George Neale Jr. House Tenant & Brand Highlights: • Background – The company was founded in 1952 and currently operates approximately (625) locations across (6) states: Pennsylvania, Maryland, Ohio, Virginia, West Virginia, & North Carolina • Track Record – Sheetz has revenues of about $6.2 Billion (2020), as well as, appearances on Fortune Magazine’s Annual “100 Best Companies to Work for” List (2014 & 2016) • Company Growth – Sheetz has shown significant investment in its brand, having continued store openings year over year, with plans to open an additional (30) locations through 2021 • Investment into Submarket – The Company has shown significant interest in the West Virginia market as demonstrated by, its recent $2 Million Capex Expenditure into a New Distribution Truck Transfer Station • Partnerships & Innovation – The Brand has recently partnered with Grubhub, a mobile food delivery service, in an effort to expand customer reach; the Convenience Brand announced it will now accept digital currency as a valid form of payment, the first convenience chain to do so • Business Model – Sheetz is considered a “food forward” operation, distinguishing itself by providing prepared meals at a quality level to draw in customers who do not need gas. The Company’s focus on food has even led it to trademark the phrase “made to order” (MTO)

Investment Highlights

  • Corporately Guaranteed Sheetz with over (11) Years remaining on Term
  • NNN Ground Lease Structure provides an Investor with Absolutely Zero Landlord Responsibilities
  • Scheduled Rent Escalations provide a strong hedge against inflation – including a (5%) Increase in Lease Year 11 & (10%) increases in every of the (7), Five-Year Options
  • Significant Traffic Generating Site seeing approximately 186K Annual Visits over the Trailing-12 Months (Placer.ai)

Exclusively Listed By

Broker of Record

  • Francis McGuire

    Broker Of Record

    (304) 751-6577

    License(s) WV0019009

    West Virginia

Financing By

Listing Price: $2,226,804

Cap Rate
4.85%
Tenant Name
Sheetz
Years Remaining On Lease
11.0
Guarantor
Corporate Guarantee
Rentable SF
5,420
Lease Type
NNN Ground Lease
Rent Per Square Feet
$19.93

Investment Highlights

  • Corporately Guaranteed Sheetz with over (11) Years remaining on Term
  • NNN Ground Lease Structure provides an Investor with Absolutely Zero Landlord Responsibilities
  • Scheduled Rent Escalations provide a strong hedge against inflation – including a (5%) Increase in Lease Year 11 & (10%) increases in every of the (7), Five-Year Options
  • Significant Traffic Generating Site seeing approximately 186K Annual Visits over the Trailing-12 Months (Placer.ai)

Investment Overview

Location Highlights: • Centralized Location – The Site is approximately is a (2)-hour commute from both Columbus, OH & Pittsburgh, PA • Fifth Street Bridge - Sheetz is located adjacent to the Ohio River which borders Ohio & West Virginia – the Fifth Street Bridge is the only non-toll bridge connection between the two States for (10) miles • Stable Middle-Class Demographics – Average Household Income is $55,621 with a steadily increasing Trade Population of 61,212 residents within a (5)-mile radius • Major Economic Drivers – Subject Site benefits from its proximity to major submarket traffic generators including Camden Clark Hospital (270 Beds – 977K Annual Visits), and multiple historical landmarks including, the Oil & Gas Museum, Blennerhassett Museum of Regional History, & George Neale Jr. House Tenant & Brand Highlights: • Background – The company was founded in 1952 and currently operates approximately (625) locations across (6) states: Pennsylvania, Maryland, Ohio, Virginia, West Virginia, & North Carolina • Track Record – Sheetz has revenues of about $6.2 Billion (2020), as well as, appearances on Fortune Magazine’s Annual “100 Best Companies to Work for” List (2014 & 2016) • Company Growth – Sheetz has shown significant investment in its brand, having continued store openings year over year, with plans to open an additional (30) locations through 2021 • Investment into Submarket – The Company has shown significant interest in the West Virginia market as demonstrated by, its recent $2 Million Capex Expenditure into a New Distribution Truck Transfer Station • Partnerships & Innovation – The Brand has recently partnered with Grubhub, a mobile food delivery service, in an effort to expand customer reach; the Convenience Brand announced it will now accept digital currency as a valid form of payment, the first convenience chain to do so • Business Model – Sheetz is considered a “food forward” operation, distinguishing itself by providing prepared meals at a quality level to draw in customers who do not need gas. The Company’s focus on food has even led it to trademark the phrase “made to order” (MTO)

Exclusively Listed By

Broker of Record

  • Francis McGuire

    Broker Of Record

    (304) 751-6577

    License(s): WV0019009

    West Virginia

Financing By

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