Wawa (GL)

1900 North Croatan Highway, Kill Devil Hills, NC 27948

$6,147,000

Cap Rate 4.75%

Views: 38 DOM: 47 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 19.9	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

David Hoppe

Atlantic Capital Partners

Contact

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...

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Key Features

New construction
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Kill Devil Hills, North Carolina Zip Code 27948 Broker Site Page

Maps

Local Information

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,...

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Listing Broker

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