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Views: 129 Updated: 11.22.24 Posted: 04.09.24 Status: Sold

Summary

Price $5,400,000
Built/Renov 2023
Tenant Wawa (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,600
Lease Start 11-01-2023
#Units 1,050
Price/SF $964.29
Expiration 10-31-2043
Tenant Type Convenience/Gas
NOI $270,000
R. Term 18.11
Ownership Ground Lease
Rent/SF $48.21
Increases 10.0%/9/yrs
Pop 5Mi 198,765
Lot/AC 2.11
Options 6/5yrs/10%
AHHI 5Mi $140,762

Lease Highlights

  • Brand-new 2023 construction
  • Wawa recently signed a new 20-year ground lease with 6 (5-year) options to renew
  • The lease features a rental increase of 10% in Year 11 and 10% every 5 years in option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

This newly constructed Wawa is located at the signalized hard corner intersection of Van Dussen Road and West Side Boulevard, immediately off of I-95 with access to 218,252 vehicles per day. The subject property consists of a 5,600 square foot retail space, a single row canopy with eight fueling stations, sixteen pumps and ample parking on a large 2-acre parcel. The site benefits from its...

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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
2028 Total Population : 8,160 98,873 211,179
2023 Total Population : 8,062 98,860 206,432
2023 Employed Civilian Pop : 4,164 55,023 113,023
2023 Total Businesses : 340 3,335 6,870
2023 Average Household Income : $ 148,371 $ 120,513 $ 134,304
2023 Total Consumer Spending : $ 422 M $ 3759 M $ 8492 M
2023 Median Age : 42 36 37
2023 Total Households : 3,360 36,472 74,270
2023 Pop Age 25+: Bachelor's Degree : 1,769 17,043 37,812
2023 Average Home Value : $ 528,387 $ 499,855 $ 517,210
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Van Dusen Rd Konterra Dr 2020 12,032 0.06 mi
Van Dusen Rd Spring Arbor Dr 2020 12,032 0.17 mi
Van Dusen Rd Contee Rd 2013 9,770 0.20 mi
Konterra Drive 2017 13,780 0.21 mi
Konterra Drive Virginia Manor Rd 2020 13,522 0.24 mi
2018 1,983 0.26 mi
Konterra Drive 2017 15,302 0.27 mi
Ramp 9 Fr Rp4 (nb Cd) To Konterra Dr Wb I- 95 2020 1,295 0.27 mi
Contee Rd Riverbirch Ct 2013 10,677 0.32 mi
Contee Road Riverbirch Ct 2018 11,771 0.34 mi

Listing Broker

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