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Views: 66 Updated: 10.04.24 Posted: 07.23.24 Status: Sold

Summary

Price $5,100,000
Built/Renov 2023
Tenant Wawa (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 6,049
Lease Start 07-01-2023
#Units 1,032
Price/SF $843.11
Expiration 06-30-2043
Tenant Type Convenience/Gas
NOI $255,000
R. Term 18.6
Ownership Ground Lease
Rent/SF $42.16
Increases 10.0%/5/yrs
Pop 5Mi 76,456
Lot/AC 2.95
Options 6/5yrs/10%
AHHI 5Mi $171,533

Lease Highlights

  • New 2023 construction
  • Wawa has 18+ years remaining on the current ground lease term with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wawa is strategically located at the signalized, hard corner intersection of Richmond Highway and Enon Road, the area’s primary commercial and commuter corridor, with access to a combined daily traffic count of 34,600 vehicles. The property is directly off an exit on Interstate 95 (157,100 VPD) and shares the intersection with future development projects and the new Stafford High School....

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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,...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 783 27,541 80,418
2024 Total Population : 746 25,773 76,349
2024 Employed Civilian Pop : 385 12,933 38,984
2024 Total Businesses : 29 773 3,372
2024 Average Household Income : $ 132,713 $ 150,829 $ 145,578
2024 Total Consumer Spending : $ 29 M $ 1194 M $ 3544 M
2024 Median Age : 37 37 36
2024 Total Households : 259 9,082 27,881
2024 Pop Age 25+: Bachelor's Degree : 105 4,366 13,314
2024 Average Home Value : $ 500,230 $ 500,725 $ 541,683
*ESRI data is presented for informational purposes only

Listing Broker

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