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Views: 90 DOM: 183 Updated: 11.25.24 Posted: 06.22.24 Status: Active

Summary

Price $3,485,000
Built/Renov 2024
Tenant Wawa (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 6,000
Lease Start 11-01-2024
#Units 1,050
Price/SF $580.83
Expiration 11-01-2044
Tenant Type Convenience/Gas
NOI $156,816
R. Term 19.10
Ownership Ground Lease
Rent/SF $26.14
Increases 7.0%/11/yrs
Pop 5Mi 94,280
Lot/AC 2.00
Options 6/5yrs/7%
AHHI 5Mi $85,967

Lease Highlights

  • Brand-new 2024 construction
  • New 20-year ground lease with 6 (5-year) options to extend
  • The lease features 7% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wawa is strategically located on Pine Forest Road, with access to 32,500 vehicles passing by daily. The property features significant street frontage and multiple points of ingress/egress. Positioned as an outparcel to the new Ransley Station development, it will be part of The Waters at Ransley Phase 1, Multi-Family Phase 2, Homewood Suites, and will accommodate proposed retail, office, and...

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Maps

  • 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 : 3,902 35,139 98,474
2024 Total Population : 3,463 33,228 95,568
2024 Employed Civilian Pop : 1,620 15,554 47,338
2024 Total Businesses : 185 1,236 2,716
2024 Average Household Income : $ 95,546 $ 100,446 $ 92,495
2024 Total Consumer Spending : $ 138 M $ 1192 M $ 3137 M
2024 Median Age : 41 44 42
2024 Total Households : 1,646 13,576 38,711
2024 Pop Age 25+: Bachelor's Degree : 683 5,207 14,150
2024 Average Home Value : $ 328,018 $ 357,834 $ 339,087
*ESRI data is presented for informational purposes only

Listing Broker

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