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Views: 108 DOM: 15 Updated: 02.29.24 Posted: 11.21.23 Status: Sold 12.06.23

Summary

Price $4,392,500 $4,700,000
Built/Renov 2016
Tenant Wawa (GL)
Cap Rate 5.35% 5.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,600
Lease Start 02-01-2015
#Units 950
Price/SF $784.38 $839.29
Expiration 02-29-2036
Tenant Type Convenience/Gas
NOI $235,000
R. Term 11.2
Ownership Ground Lease
Rent/SF $41.96
Increases 6.0%/3/yrs
Pop 5Mi 274,920
Lot/AC 2.21
Options 6/5yrs/8%
AHHI 5Mi $84,254

Lease Highlights

  • Wawa has 12+ years remaining on its current lease term with 6 (5-year) options to extend
  • The ground lease features 8% rental increases every 5 years throughout the base term and at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wawa is extremely well located at the signalized, hard corner intersection of Livingston Avenue and E Fletcher Avenue, one of the area’s primary commercial and commuter corridors, with access to 44,500 vehicles passing by daily. The property boasts excellent frontage and benefits from three points of access. Its prime location is just seconds away from both Advent Health Tampa and the James A...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 28,720 131,509 271,635
2023 Total Population : 28,823 131,458 272,288
2023 Employed Civilian Pop : 13,473 65,284 143,378
2023 Total Businesses : 1,016 4,863 11,180
2023 Average Household Income : $ 44,412 $ 59,739 $ 76,772
2023 Total Consumer Spending : $ 469 M $ 2645 M $ 7238 M
2023 Median Age : 30 31 35
2023 Total Households : 11,908 50,382 107,922
2023 Pop Age 25+: Bachelor's Degree : 2,437 14,753 38,224
2023 Average Home Value : $ 321,893 $ 318,505 $ 374,300
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Fletcher Ave N 22nd St 2015 36,802 0.23 mi
Haley' Cove N 27th St 2014 5,700 0.25 mi
E Fletcher Ave N 29th St 2012 45,500 0.27 mi
North 22nd Street E 138th Ave 2022 7,300 0.35 mi
N 30th St University Plz 2017 42,851 0.37 mi
E Fletcher Ave 31st St 2017 42,735 0.46 mi
East 131st Avenue N 29th St 2022 7,300 0.50 mi
East 131st Avenue N 19th St 2021 7,500 0.50 mi
East Fletcher Avenue Pine Dr 2022 45,000 0.54 mi
N 30th St Campus Hill Dr 2017 52,277 0.54 mi

Listing Broker

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