Andrew Fallon, Executive Managing Director703.787.4733 | afallon@calkain.com

SHEETZAbsolute NNN Offering Memorandum Daleville (Roanoke), VA

SHEETZ | DALEVILLE, VATABLE OF CONTENTS

Financial Summary

Tenant Overview

Site Facts

Location Overview

Area Map

Retail Map

Local Retail Map

Demographics

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Rent ScheduleTerm Increases Annual Rent Monthly Rent

3/1/2019 - 2/28/2034 - $204,000 $17,000

3/1/2034 - 2/28/2039* 10% $224,400 $18,700

3/1/2039 - 2/28/2044* 10% $246,840 $20,570

3/1/2044 - 2/28/2049* 10% $271,524 $22,627

3/1/2049 - 2/28/2054* 10% $298,680 $24,890

3/1/2054 - 2/28/2059* 10% $328,548 $27,379

3/1/2059 - 2/28/2064* 10% $361,404 $30,117

3/1/2064 - 2/28/2069 10% $397,536 $33,128

Cap Rate 5.10%

Investment Highlights • Grand opening in August

• Brand new Sheetz ground lease

• Corporate guaranty

• Full service prototype with made-to-order food, espresso bar, drive-thru, car wash, indoor seating, picnic seating and wifi

• Hard corner of a signalized intersection; heavy traffic counts of 33,500 VPD

Asset SummaryNet Operating Income (NOI) $204,000

Rent/Month $17,000

Land Area 2.59+/- Acres

Tenant Sheetz

Ownership Type Fee Simple

Guarantor Corporate

Lease Type Ground Lease

Lease Term Remaining 15 Years

Lease Commencement March 1, 2019

Rent Commencement August 1, 2019

Lease Expiration February 28,2034

Increases 10% Every 5 Years in Options

Options Seven (7), Five (5) Year

Financial Summary

1731 Roanoke Road | Daleville, VA 24083

Asking Price$4,000,000

*Options

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About SheetzSheetz is a chain of convenience stores, many of which also sell gas.

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.

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 has been in business for more than 60 years.

Sheetz surpasses many convenience stores with its levels of efficiencies in food service, distribution and technology. In 2014 and 2016, the company appeared on Fortune magazine’s annual “100 Best Companies to Work For” list.

Tenant Summary

Tenant Snapshot# of Locations: 500+ | Headquarters: Atloona, PA Revenue: $7.2 Billion | Employees: 17,500 | Ranking: Forbes #17

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Site Photos

6,000 square feet

Drive-thru

On-site car wash

24-hour convenience

Signalized Intersection

Sheetz Daleville, VA

Site Facts

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1731 Roanoke Road Daleville, VA 24083

Daleville, VA

Washington, DC229 Miles

Location Overview

Baltimore, MD266 Miles

Richmond, VA177 Miles

Winston-Salem, NC222 Miles

Roanoke, VA15 Miles

Charleston, WV183 Miles

Charlottesville, VA109 Miles

Lynchburg, VA57 Miles

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Area Map

81Subject Site

Downtown Roanoke

15 miles away

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1731 Roanoke Road Daleville, VA 24083

2,060 Students

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1731 Roanoke Road Daleville, VA 24083

Retail Map

Subject Site

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I-81 4

0,605

VPD

Roanoke Rd 21,410 VPD

Lord Botetourt High School

Daleville Town Center

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Local Retail Map

Location Highlights

Interstate Location

21,410 VPD Pass the Site

Corner Location

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lick fo

r Street View

Subject Site

DALEVILLE TOWN CENTERLive, Work, Play! Music & Event

Pavilion, Shopping, Dining, Farmers Market, Health Care,

New Homes and more, all in one spot!

Lord Botetourt High School

Bryant Orchards Farm Market

Roanoke Rd 21,410 VPD

1731 Roanoke Road Daleville, VA 24083

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3 Miles 5 Miles 10 MilesPopulation2019 Population 6,233 18,859 128,878

2024 Population 6,211 18,840 129,992

2019 Median Age 49.8 45.5 40.4

Households2019 Total Households 2,685 7,763 54,077

2024 Total Households 2,732 7,896 54,847

Median Household Income2019 Median HH Income $73,482 $78,336 $57,206

2024 Median HH Income $84,578 $90,209 $66,068

Average Household Income2019 Average HH Income $92,458 $95,323 $69,972

2024 Average HH Income $109,517 $111,753 $82,679

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5 Miles

10 Miles

Roanoke, VARoanoke is a city in the Blue Ridge Mountains of southwest Virginia. It’s known for the Roanoke Star, also known as the Mill Mountain Star, a neon landmark overlooking the city from the summit of Mill Mountain. The surrounding park area is home to trails, picnic areas and the Mill Mountain Zoo. Downtown, the Taubman Museum of Art highlights work by American artists like Thomas Eakins and John Singer Sargent.

Roanoke has earned the nickname “Star City of the South” by being the recreational, cultural and business hub of Virginia’s Blue Ridge Mountains. The nickname is also attributed to the iconic Roanoke Star, which sits atop Mill Mountain and overlooks the entire region.

Demographics & Location Summary

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CALKAINAbout Us

Calkain Companies LLC is a boutique commercial real estate investment banking firm that provides consulting and brokerage services to both private and institutional clientele with a focus on single tenant net lease investments. We pride ourselves on being an innovative leader by providing our clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, debt and equity placement and wealth management.

Calkain has built solid, lasting relationships that have been the cornerstone of how we do business. Calkain approaches each assignment with an eye toward each client’s individual needs. Whether private or institutional investors, Calkain delivers real estate solutions that maximize value while building wealth for all of our clients.

At Calkain, our foresight and innovation are leading the net lease investment industry.

To learn more about how to build a solid foundation for your investment portfolio, visit calkain.com or call us at:

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Disclaimer: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.