loader
Join Free
Views: 61 DOM: 121 Updated: 08.31.24 Posted: 07.23.24 Status: Active

Summary

Price $6,147,000
Built/Renov 2024
Tenant Wawa (GL)
Cap Rate 4.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 6,000
Lease Start 05-16-2024
#Units 1,032
Price/SF $1,024.50
Expiration 05-31-2044
Tenant Type Convenience/Gas
NOI $292,000
R. Term 19.6
Ownership Ground Lease
Rent/SF $48.67
Increases 10.0%/5/yrs
Pop 5Mi 13,776
Lot/AC 2.32
Options 6/5yrs/10%
AHHI 5Mi $99,182

Lease Highlights

  • Brand-new 2024 construction
  • Wawa executed a brand new 20-year ground lease with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wawa is strategically located at the signalized, hard-corner intersection of North Croatan Highway and 4th Street, a main retail thoroughfare, with access to a combined daily traffic count of 36,400 vehicles. The property is in close proximity to well-known national tenants, including Target (1.2 million visits), Publix (753,000 visits), and Lowe’s (747,000 visits). The 5-mile trade area is...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wawa
  • Guarantor:Corporate
  • Company:Wawa, Inc.
  • # Units:1,032
  • 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,...


...

Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,324 14,045 18,107
2024 Total Population : 4,205 13,623 17,583
2024 Employed Civilian Pop : 2,858 8,641 10,943
2024 Total Businesses : 177 803 1,332
2024 Average Household Income : $ 110,502 $ 112,638 $ 117,311
2024 Total Consumer Spending : $ 183 M $ 580 M $ 772 M
2024 Median Age : 47 47 48
2024 Total Households : 1,910 5,933 7,605
2024 Pop Age 25+: Bachelor's Degree : 885 2,981 4,142
2024 Average Home Value : $ 444,338 $ 451,317 $ 465,480
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
SR 1217 Park Dr 2022 12,065 1.74 mi
Ocean Bay Boulevard N Memorial Blvd 2022 2,238 1.74 mi
South Croatan Highway E Oregon Ave 2022 38,819 1.82 mi
South Croatan Highway E Oregon Ave 2018 37,500 1.83 mi
N Croatan Hwy 2022 367 1.85 mi
S Croatan Hwy Albemarle Ave 2004 40,000 1.90 mi
South Virginia Dare Trail E Baum St 2022 7,153 1.94 mi
North Virginia Dare Trl Virginia Dare Trl 2004 4,000 2.19 mi
North Virginia Dare Trail Perry St 2019 3,700 2.27 mi
North Virginia Dare Trail Perry St 2022 5,041 2.28 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity