Sheetz | NNN GL With Increases | Corner Parcel
Proximate to I-81 (60,000 VPD) | Limited Competition
Marketing description
- 15-Year Absolute Net Ground Lease with 10% Increases Beginning Year 11
- 2.615 -Acre Signaled Corner Parcel to 23,000 VPD
- Less than One-Mile from Interstate-81 Interchange with 60,000 VPD
- Limited Competition from other Large Format Gas & C-Stores
- Implied Investment Grade Credit of Expanding 800-Unit Operator
Investment highlights
15-YEAR ABSOLUTE NET GROUND LEASE WITH 10% INCREASES - The Tenant, Sheetz, Inc., is subject to a new 15-year Absolute Net Ground Lease which opened in July 2025. The lease features rental increases of 10 percent (10%) every five years beginning in year 11. Sheetz operates in a newly constructed ±6,000-square-foot store with indoor and outdoor seating, drive-thru, and six fueling pumps. Sheetz completed 100% of the construction, both sitework and building, at its sole cost and expense, providing additional security to the offering.
PROMINENT SIGNALED CORNER PARCEL TO 25,000 VPD - Sheetz is situated upon a large ±2.615-acre parcel at the signaled intersection of Route 11 and Plantation Road with prominent frontage and visibility. Sheetz has three means of access, including right-in, right-out access along southbound Route 11, and points of both right-in/right-out access and full access via Plantation Road. Route 11 runs through the city's urban core and into the surrounding Roanoke County, running parallel to Interstate-81. It is a heavily traveled local and commuter route.
INTERSTATE-81 ACCESSIBILITY WITH LIMITED COMPETITION - Sheetz benefits tremendously from its position less than one-mile from the Interstate-81 interchange (60,000 VPD). It is the first large format gas station and C-store off the interchange, with only small format Exxon, BP and Shell gas stations along Plantation Road. The store has Interstate-81 travel advisory signage. Interstate-81 is a major north-south interstate highway running through the Appalachian region of the eastern United States. It plays a crucial role in both freight transportation and regional mobility, often carrying goods between the Northeast and the South. Many drivers use this interstate to avoid congestion on I-95, especially for north-south travel between the Mid-Atlantic and the Southeast. The Roanoke Valley has immensely benefited from the connectivity that I-81 provides residents and businesses alike; it vastly improves the Valley's drivetime radius.
NEIGHBORS ROANOKE VALLEY'S TOP 2 LARGEST EMPLOYERS - The property is also within one-mile to several major employment centers, including Roanoke Valley's two largest employers, Carilion Clinic and Wells Fargo. Elbit America Aerospace and Defense Solutions, BSC Ventures, and Hollins University with an enrollment of 821 students are also proximate. The store is opposite a well-performing CVS Pharmacy with 292,000 annual customer visits per Placer.ai. This segment of Route 11 also features notable retailers: Kroger, Dollar Tree, Dunkin', Jersey Mike's, and a Truist Bank with $100,000,000 in deposits, among others.
EXPANDING PRESENCE IN SOUTHWEST VIRGINIA - Sheetz currently has six stores in the Roanoke region as well as four in Lynchburg, four in the New River Valley, and two in Rocky Mount. In addition to the subject store opening, the chain opened a new location on Blue Ridge Boulevard in June 2025, and relocated a store to a new, larger location on Orange Avenue in 2022. Sheetz's strong presence and continued investment in the Roanoke market signifies its commitment to insulating its market share in the region. Sheetz's prominent market share will boost this store's performance, while being without another Sheetz for 4-miles west, 7-miles south, and 6-miles north.
RAPIDLY EXPANDING PRIVATELY HELD C-STORE OPERATOR - Sheetz has become one of the fastest growing privately-owned convenience store chains in the world. The company operates over 800 company-owned stores across Pennsylvania, Maryland, West Virginia, Ohio, Virginia, North Carolina, and Michigan. As of early 2026, Sheetz has begun expansion into Michigan with its first few Detroit-area locations, with plans for 50-60 more over the next five to six years. Sheetz ranked No. 43 on Forbes' 2025 list of America's Top Private Companies and No. 111 on its 2026 list of America's Best Companies. The company was also recognized by Forbes as one of 'America's Best Large Employers' (2024), Fortune's '100 Best Companies to Work For' (2021) and Convenience Store Decisions Group named Sheetz, Inc. the 2017 Convenience Store Chain of the Year, considered the gold standard in convenience retailing.
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