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Views: 68 DOM: 196 Updated: 04.12.24 Posted: 11.03.23 Status: Active

Summary

Price $5,860,000
Built/Renov 2024
Tenant Wawa (GL)
Cap Rate 4.65%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,585
Lease Start 04-01-2024
#Units 950
Price/SF $1,049.24
Expiration 03-31-2042
Tenant Type Convenience/Gas
NOI $272,500
R. Term 17.10
Ownership Ground Lease
Rent/SF $48.79
Increases 10.0%/5/yrs
Pop 5Mi 56,124
Lot/AC 2.60
Options 6/5yrs/10%
AHHI 5Mi $134,701

Lease Highlights

  • Brand-new 2024 construction
  • Wawa recently signed a brand-new 20-year ground lease with 6 (5-year) options to extend
  • Lease features 10% rental increase every 5 years throughout the initial term and each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wawa is strategically located at the signalized, hard corner intersection of US Route 206 and Lackawanna Dr, with access to a combined daily traffic count of 27,900 vehicles. The location is directly across from Byram Plaza, a shopping center anchored by ShopRite, which ranks in the top 96% of all strip/convenience centers in the United States, according to Placer.ai. The immediate trade area...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wawa
  • Guarantor:Corporate
  • Company:Wawa, Inc.
  • # Units:950
  • Stock:Private

About Tenant

Wawa, Inc. is an American chain of convenience stores and gas stations located along the East Coast of the United States, operating in Pennsylvania, New Jersey, Delaware, Maryland, V22. Wawa, a...


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Traffic

Collection Street Cross Street Year Traffic Vol Distance
2018 24,311 0.16 mi
Lackawanna Drive Bells Ln 2017 3,162 0.22 mi
US 206 Hartman Ln 2020 22,868 0.42 mi
Waterloo Rd Hamblin Ln 2008 4,337 0.56 mi
US Hwy 206 Acorn St 2018 23,157 0.70 mi
Waterloo Rd Sussex St 2013 4,315 0.76 mi
Lackawanna Drive Bells Ln 2020 3,468 0.98 mi
Waterloo Rd River Rd 2018 1,500 1.01 mi
Waterloo Road Waterloo Rd 2020 3,122 1.18 mi
Stanhope - Sparta Road Columbia Valley Rd 2020 2,479 1.22 mi

Listing Broker

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