Sheetz - Tenant Overview


January 17, 2024


Tenant Description

Sheetz, a family-owned convenience store chain founded in 1952 in Altoona, Pennsylvania, has become a significant player in the convenience retail industry. With its ambitious expansion plans, including new stores in Ohio and Michigan, Sheetz has grown beyond its Mid-Atlantic and Appalachian roots, now operating over 600 stores across six states. This growth underscores its strong market presence and commitment to reaching new customers.

Sheetz stands out for its unique blend of convenience store essentials and extensive food and beverage options. Known for their Made-to-Order (MTO) menu, Sheetz offers a variety of fresh, customizable food items, setting them apart from traditional convenience stores. This focus on quality and variety caters to the evolving demands of consumers, enhancing the overall customer experience.

The company's innovative approach is not limited to its product offerings. Sheetz is committed to incorporating cutting-edge technology in its operations, as seen in its efficient supply chain management and customer-focused digital initiatives. These advancements play a crucial role in maintaining operational efficiency and staying competitive in a rapidly changing retail landscape.

Sheetz's expansion strategy is characterized by strategic location selection and a commitment to maintaining high standards in every new store. The recent plan to open new stores and a distribution center in Ohio highlights Sheetz's continuous pursuit of growth and market penetration while ensuring consistent quality and service.

Financially, Sheetz exhibits a strong performance and stability, crucial for potential real estate partners. The company's combination of innovative business practices, strategic expansion, and financial health makes it an attractive and reliable tenant in the commercial real estate sector, offering promising prospects for growth and sustainability.

Average Asking Cap Rate


3 mo avg (34 properties)

Typical Investment/Lease

Average Sale Price




$/Square Foot

$600 - $1,100

Building SF

4,900 - 6,200

Approx. Store Count


Lease Term

15 Years


10% in Option Period

Stock Symbol


Credit Quality



Average Asking Cap Rate Trend





Reflect only properties with long-term lease.

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