Wawa (GL)

1500 West Harrisburg Pike, Middletown, PA 17057

$5,386,138

Cap Rate 5.05%

Views: 142 DOM: 282 Updated: 11.22.24 Posted: 03.14.24 Status: Active

Summary

Price $5,386,138	Built/Renov 2024	Tenant Wawa (GL)
Cap Rate 5.05%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,585	Lease Start 09-01-2024	#Units 1,050
Price/SF $964.39	Expiration 08-31-2044	Tenant Type Convenience/Gas
NOI $272,000	R. Term 19.8	Ownership Ground Lease
Rent/SF $48.70	Increases 10.0%/5/yrs	Pop 5Mi 70,892
Lot/AC 1.30	Options 6/5yrs/10%	AHHI 5Mi $98,213

Lease Highlights

Brand new 2024 construction
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 on W Harrisburg Pike, with access to 13,292 vehicles passing by daily. The property is conveniently located across from Harrisburg International Airport, Penn State University with an enrollment of 5,000 students, off-campus student housing, and Amtrak Middletown Station. Key institutions in the vicinity include Robert G. Reid Elementary, Middletown Middle School,...

...

Key Features

New construction
Build to suit
Strategically located
University college close
Affluent suburb location
Brand new lease
Long 20+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

...

Links

Wawa Wikipedia Wawa Wikipedia Middletown, Pennsylvania Zip Code 17057 Broker Site Page

Maps

Local Information

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,...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,114	25,923	69,175
2023 Total Population :	2,121	25,969	68,765
2023 Employed Civilian Pop :	927	13,851	37,825
2023 Total Businesses :	102	661	1,955
2023 Average Household Income :	$ 56,556	$ 83,551	$ 97,309
2023 Total Consumer Spending :	$ 25 M	$ 765 M	$ 2317 M
2023 Median Age :	27	41	42
2023 Total Households :	517	10,581	27,633
2023 Pop Age 25+: Bachelor's Degree :	120	3,450	10,058
2023 Average Home Value :	$ 80,410	$ 205,327	$ 242,000

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Airport Dr	5th St	2017	3,910	0.16 mi
Airport Connector	Airport Dr	2022	3,740	0.18 mi
Rosedale Avenue	5th St	2022	2,061	0.21 mi
	Rosedale Ave	2022	3,931	0.23 mi
State Rte 3032	Airport Dr	2017	3,057	0.23 mi
		2019	4,235	0.28 mi
Airport Drive	Airport Dr	2019	4,023	0.30 mi
	Airport Con	2021	4,509	0.35 mi
	Wyoming Ave	2022	2,703	0.35 mi
	Rosedale Ave	2022	5,963	0.35 mi

Listing Broker

Connor Shell

STREAM Capital Partners

Contact

56 Listings
8193 Views
11 Sold

Jordan Shtulman

STREAM Capital Partners

Contact

76 Listings
9584 Views
33 Sold

Connor Shell

Connor Shell joined STREAM Capital Partners in 2017 as Managing Director expanding our footprint further into Southern California and bringing 8 years of expertise to this area with a long-standing development and investment history. While at STREAM Capital Partners, Connor has grown his transaction footprint, closing deals with major retail developers and private owners throughout the United States. He has developed and strengthened his relationships with private owners, family offices, inst

...

Jordan Shtulman

Jordan Shtulman is Co-Founder and Managing Principal of STREAM Capital Partners. In 2012, Jordan Shtulman and his partner, Jonathan Wolfe, formed STREAM Capital Partners with the intent to advise institutions, real estate developers, REITs, private equity firms, and business owners on all phases of net leased and sale leaseback properties. Since forming the company, Jordan and Jonathan have led a team of trusted advisors across the country completing over $12 Billion in net leased and sale leas

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT