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Views: 67 DOM: 156 Updated: 10.03.24 Posted: 06.18.24 Status: Active

Summary

Price $9,875,000
Built/Renov 2022
Tenant Wawa (GL)
Cap Rate 4.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,537
Lease Start 02-01-2023
#Units 1,050
Price/SF $1,783.46
Expiration 02-01-2043
Tenant Type Convenience/Gas
NOI $395,000
R. Term 18.2
Ownership Ground Lease
Rent/SF $71.34
Increases 7.0%/9/yrs
Pop 5Mi 256,756
Lot/AC 1.95
Options 6/5yrs/8%
AHHI 5Mi $93,147

Lease Highlights

  • New 2022 construction
  • Wawa has 18+ years remaining on the current ground lease term with 6 (5-year) options to extend
  • The lease features 7% rental increases throughout the initial term and 8% at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wawa is strategically located at the signalized, hard corner intersection of Southern Blvd. and Benoist Farms Road, with access to a substantial combined daily traffic count of 84,100 vehicles. The property benefits from significant street frontage and multiple points of access. Additionally, it is directly off Florida’s Turnpike (79,000 VPD) and situated near The Shoppes at Southern Palms, a...

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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
2029 Total Population : 2,221 77,949 259,767
2024 Total Population : 2,077 75,251 255,702
2024 Employed Civilian Pop : 1,087 38,063 126,003
2024 Total Businesses : 453 3,828 11,333
2024 Average Household Income : $ 184,267 $ 118,318 $ 100,751
2024 Total Consumer Spending : $ 97 M $ 2766 M $ 8537 M
2024 Median Age : 40 41 42
2024 Total Households : 622 26,749 96,481
2024 Pop Age 25+: Bachelor's Degree : 463 13,182 38,564
2024 Average Home Value : $ 656,686 $ 500,441 $ 443,302
*ESRI data is presented for informational purposes only

Listing Broker

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