Wawa (GL)

195 West White Horse Pike, Berlin, NJ 08009

$5,333,335

Cap Rate 5.25%

Views: 67 DOM: 35 Updated: 08.12.24 Posted: 08.12.24 Status: Active

Summary

Price $5,333,335	Built/Renov 2010	Tenant Wawa (GL)
Cap Rate 5.25%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,131	Lease Start 11-25-2010	#Units 1,032
Price/SF $1,291.05	Expiration 11-30-2040	Tenant Type Convenience/Gas
NOI $280,000	R. Term 16.2	Ownership Ground Lease
Rent/SF $67.78	Increases 8.8%/11/yrs	Pop 5Mi 160,920
Lot/AC 3.47	Options 4/5yrs/6%	AHHI 5Mi $123,262

Lease Highlights

Wawa has 16+ years remaining on the current ground lease term with 4 (5-year) options to extend
The lease features an 8.8% rental escalations in 2035, 6% escalations 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 S Franklin Avenue and W White Horse Pike, one of the area’s primary commercial and commuter corridors, with a combined daily traffic count of 27,800 vehicles. W White Horse Pike (US Route 30) provides direct access to Interstate 295 and Downtown Philadelphia. Additionally, it is surrounded by densely populated...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Berlin, New Jersey Zip Code 08009 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
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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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