Wawa (GL)

1800 Naamans Road, Wilmington, DE 19810

$6,725,000

Cap Rate 5.00%

Views: 173 DOM: 135 Updated: 11.08.24 Posted: 07.09.24 Status: Active

Summary

Price $6,725,000	Built/Renov 2024	Tenant Wawa (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,585	Lease Start 11-15-2024	#Units 1,050
Price/SF $1,204.12	Expiration 11-30-2044	Tenant Type Convenience/Gas
NOI $336,250	R. Term 20.0	Ownership Ground Lease
Rent/SF $60.21	Increases 10.0%/5/yrs	Pop 5Mi 154,563
Lot/AC 1.50	Options 6/5yrs/10%	AHHI 5Mi $128,556

Lease Highlights

Brand-new 2024 construction
New 20-year ground lease with 6 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Wawa is strategically located on Naamans Road, a main thoroughfare, with access to 30,100 vehicles passing by daily. The property is surrounded by top performers, including an ACME Market in the top 82nd percentile of locations within their chain in the U.S. and the top 73rd percentile in Delaware. Additionally, The Home Depot ranks in the top 88th percentile, and Walgreens ranks in the top...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Accelerated depreciation
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Wilmington, Delaware Zip Code 19810 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wawa
Guarantor:Corporate
Company:Wawa, Inc.
# Units:1,050
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, Virginia,...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	8,527	76,137	151,098
2024 Total Population :	8,846	78,032	153,539
2024 Employed Civilian Pop :	4,481	39,896	78,576
2024 Total Businesses :	163	2,800	6,787
2024 Average Household Income :	$ 145,585	$ 142,858	$ 137,825
2024 Total Consumer Spending :	$ 470 M	$ 3910 M	$ 7475 M
2024 Median Age :	48	44	44
2024 Total Households :	3,788	31,750	62,793
2024 Pop Age 25+: Bachelor's Degree :	2,027	15,303	28,598
2024 Average Home Value :	$ 458,806	$ 436,418	$ 441,222

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Naamans Rd	Marsh Rd	2010	27,157	0.06 mi
Naamans Road		2016	25,369	0.08 mi
Marsh Rd	Naamans Rd	2014	9,190	0.12 mi
Marsh Rd	Naamans Rd	2014	6,760	0.16 mi
Marsh Road	Naamans Rd	2019	7,638	0.17 mi
MARSH ROAD	Zebley Rd	2020	6,072	0.17 mi
Marsh Road	Zebley Rd	2018	7,289	0.18 mi
SR3 MARSH ROAD	Lancashire Dr	2020	7,422	0.24 mi
Naamans Road	Ballymeade Dr	2018	25,664	0.26 mi
SR92 NAAMANS ROAD	Ballymeade Dr	2020	20,032	0.26 mi

Listing Broker

Marc Mandel

Forged Real Estate

Contact

42 Listings
7483 Views
8 Sold

Steve Schrenk

Forged Real Estate

Contact

42 Listings
7466 Views
8 Sold

Marc Mandel

Marc Mandel is the co-founder and Managing Principal of Forged Real Estate. Marc has over 18 years of experience in the commercial real estate industry and currently leads the team at Forged Real Estate with a focus on single-tenant, sale-leaseback, and small shopping center investment advisory services throughout the country. He has completed over 820 transactions throughout his career with a value of approximately $1.6 billion. Prior to founding Forged Real Estate, Marc previously was one of

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Steve Schrenk

Steve Schrenk is the co-founder and Principal of Forged Real Estate. Steve specializes in the acquisition and disposition investment advisory services of single-tenant and multi-tenant net lease properties, sale-leasebacks, and small shopping centers throughout the country. Since 2018, Steve has been involved in 300+ transactions totaling over $1 billion in total volume. Steve is a knowledgeable real estate professional with years of experience who prides himself on the team’s client centric an

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