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Views: 83 DOM: 203 Updated: 11.04.24 Posted: 05.02.24 Status: Active

Summary

Price $5,000,000
Built/Renov 2024
Tenant Wawa (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,330
Lease Start 09-01-2024
#Units 1,050
Price/SF $938.09
Expiration 09-01-2044
Tenant Type Convenience/Gas
NOI $250,000
R. Term 19.9
Ownership Ground Lease
Rent/SF $46.90
Increases 10.0%/5/yrs
Pop 5Mi 33,798
Lot/AC 1.94
Options 6/5yrs/10%
AHHI 5Mi $80,138

Lease Highlights

  • Brand new 2024 construction | Store scheduled to open in September
  • Brand new 20-year ground lease with 6 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wawa is strategically located near the signalized, hard corner intersection of Raleigh Rd./Pkwy W and Hayes Pl., with access to a combined daily traffic count of 23,500 vehicles. The property offers convenient access directly off Interstate 95 (34,500 VPD), providing direct on/off ramp access for travelers. Additionally, the site benefits from significant street frontage and multiple points of...

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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 : 462 7,737 33,577
2023 Total Population : 457 7,678 33,575
2023 Employed Civilian Pop : 196 3,273 15,063
2023 Total Businesses : 54 319 1,414
2023 Average Household Income : $ 69,187 $ 68,434 $ 80,260
2023 Total Consumer Spending : $ 10 M $ 190 M $ 970 M
2023 Median Age : 38 35 41
2023 Total Households : 172 3,201 14,018
2023 Pop Age 25+: Bachelor's Degree : 40 897 4,702
2023 Average Home Value : $ 159,901 $ 198,173 $ 234,951
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US 264 Alternate Hayes Pl 2021 22,214 0.04 mi
Raleigh Road Pkwy W Hayes Pl 2018 18,500 0.08 mi
I- 95 2021 3,168 0.12 mi
Raleigh Road Pkwy W 2021 2,500 0.13 mi
Lamm Road Raleigh RdPkwy W 2021 2,626 0.19 mi
I- 95 2021 2,421 0.20 mi
I- 95 2021 3,346 0.22 mi
Raleigh Road Parkway I- 95 2021 23,705 0.25 mi
Lamm Rd Southern Village Dr 2004 1,600 0.26 mi
Raleigh Road Pkwy W I- 95 2018 23,500 0.27 mi

Listing Broker

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