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Views: 44 DOM: 81 Updated: 08.22.24 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 1,032
Price/SF $1,783.46
Expiration 02-01-2043
Tenant Type Convenience/Gas
NOI $395,000
R. Term 18.5
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 escalations throughout the initial term and 8% at the start of each option period
  • Absolute NNN | 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:1,032
  • 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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