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Views: 97 DOM: 71 Updated: 11.08.24 Posted: 09.11.24 Status: Active

Summary

Price $6,700,000
Built/Renov 2021
Tenant Wawa (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,736
Lease Start 08-19-2021
#Units 1,050
Price/SF $1,414.70
Expiration 08-31-2041
Tenant Type Convenience/Gas
NOI $335,000
R. Term 16.9
Ownership Ground Lease
Rent/SF $70.73
Increases 10.0%/5/yrs
Pop 5Mi 295,751
Lot/AC 1.99
Options 6/5yrs/10%
AHHI 5Mi $130,433

Lease Highlights

  • Wawa has 16+ years remaining on the current ground lease term 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 at the hard corner intersection of US-1 and Stony Road, with access to a substantial combined daily traffic count of 94,800 vehicles. Surrounding the property, Walmart ranks in the top 90th percentile of its chain in the United States, while Sam’s Club is the top-performing location in New Jersey and ranks in the 86th percentile nationally. Wendy’s ranks in the...

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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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Listing Broker

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