Sheetz | 20-Year NNN GL | Growing Market 993 Hedgesville Rd 6,139 SF Retail Building Martinsburg, WV 25403 $7,603,500 CAD ($1,238.56 CAD/SF) 5% Cap Rate

New Sheetz with Unique Drive Thru – The Tenant, Sheetz Inc., is subject to a 20-year NNN corporate ground lease with opening projected late Summer 2026. (Tenant is already paying partial rent). The lease features rental increases of 10% every five years, providing revenue growth and a hedge against inflation throughout the entirety of the lease term. Sheetz will operate in a newly constructed 6,139 square foot building with indoor and outdoor seating, unique drive-thru, and a 12-stall fueling canopy. The tenant has begun construction on the site marking significant investment estimated around $6-8M.
3.6- Acre Parcel Proximate to Major Regional I-81 Interchange – Sheetz occupies a large 3.6-acre parcel on Hedgesville Road at a newly signalized intersection, located just 0.3 miles from the Interstate-81 interchange. I 81 serves as a major north–south corridor extending from the New York–Canada border to Tennessee. I-81 carries average traffic volumes of 58,683 vehicles per day at this segment, while Hedgesville Road supports an additional 25,538 vehicles per day. This section of Hedgesville Road is full of new commercial development anticipating additional residential growth. Adjacent to the property, a brand-new Wawa that opened in April 2026, and just up the road is a Rutter’s convenience store that opened in 2023. On the other side of the interchange, also within one mile of I-81 is another Sheetz location, which reportedly generates 1.1 million annual visits according to Placer.ai, ranking the store in the top quartile of the chain. This was a key reason Sheetz sought to open an additional location in this submarket; they have a loyal customer base in this market. To the northwest of the subject site by just over a mile is the Stonecrest Community. At the entrance to this project there is a new strip center with Dunkin and Jimmy John’s. Neighboring it, is a new West Virginia DMV facility and CNB Bank branch which are positioned around the entrance to a large residential subdivision. Five large industrial facilities are within one mile of the site will add customer traffic to this corridor. The facilities include Macy’s Logistics (2,000 employees), General Motors Distribution Center (100 employees), FedEx Ground (1,600 employees), Quad/Graphics (710 employees), and Rust-Oleum Distribution Center (100 employees).
Proximate to Residential Growth- Within a three-mile radius of this site, there are numerous new residential subdivisions with more on the way, as illustrated on page 8. Along Hedgesville Road, from the I-81 interchange to the Town of Hedgesville, three recently developed or expanding residential communities provide immediate population growth. The closest, Stonecrest, is located just 1.5 miles from the site consists of 261 units and additional lots in construction. Just a half mile farther is Red Hill with 256 units, 50 of which are currently under development. Aspire at Dillon Farm, located 2.75 miles from the property along Hedgesville Road, adds another 250 units to the trade area. On the opposite side of the I 81 interchange, four additional developments sit within two miles of the site. The nearest, The Reserve at Berkeley, lies just 1.1 miles from the Property and contains 234 units. The remaining communities include Villages at Courthouse Square (100 townhome units), Manor Park (160 townhome and single family homes), and Bridle Creek (200 single family homes), all situated between 1.5 and 2.0 miles from the site.
Growth Market Outside Washington DC – Although the property is located just across the state line in West Virginia, Martinsburg maintains strong ties to the greater Washington, DC metropolitan area. The site is 60 miles from Washington, DC and accessible via major roadways and Maryland Area Rail Commuter (MARC) service. The MARC line provides convenient access to DC suburban employment hubs such as Silver Spring, Kensington, Rockville, Gaithersburg, and Germantown. The proximity to Washington, DC, combined with the area’s affordability, has driven significant population growth, positioning Martinsburg as the fastest growing city in West Virginia. Within a three-mile radius of the property, population growth has increased 12.63%. Growth is fueled by a strong employment base anchored by major regional employers, including WVU Medicine’s Berkeley Medical Center and manufacturing facilities operated by Procter & Gamble and Clorox. Additionally, Martinsburg hosts the U.S. Coast Guard’s National Maritime Center, reinforcing the federal presence in the area. All of these employment drivers are located within nine miles of the site.
Rapidly Expanding, Privately Held C-Store Operator - Sheetz has become one of the fastest growing privately-owned convenience store chains in the world, with more than 800 locations in Pennsylvania, North Carolina, Virginia, Ohio, Maryland, West Virginia, and Michigan. Sheetz has plans for new stores in multiple states, as the retailer aims to eventually open more than 1,000 locations. The company opened its first Michigan location in August 2024 with plans to open 50-60 locations in the state over the next five to six years. Sheetz currently ranks 30th on the Forbes list of America’s largest private companies with $14 billion in revenue. 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.