Wawa (GL)

195 West White Horse Pike, Berlin, NJ 08009

$5,333,335

Cap Rate 5.25%

Views: 121 DOM: 113 Updated: 10.22.24 Posted: 08.12.24 Status: Contract 10.22.24

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 1,050
Price/SF $1,291.05	Expiration 11-30-2040	Tenant Type Convenience/Gas
NOI $280,000	R. Term 16.0	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 increase in 2035, 6% increases 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
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 :	5,929	59,898	163,260
2024 Total Population :	6,026	59,590	162,806
2024 Employed Civilian Pop :	3,491	30,794	86,611
2024 Total Businesses :	335	2,045	4,813
2024 Average Household Income :	$ 134,202	$ 112,729	$ 126,278
2024 Total Consumer Spending :	$ 252 M	$ 2281 M	$ 7027 M
2024 Median Age :	42	40	40
2024 Total Households :	2,175	23,122	63,917
2024 Pop Age 25+: Bachelor's Degree :	1,347	8,526	27,644
2024 Average Home Value :	$ 371,199	$ 361,621	$ 372,659

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S Franklin Ave	Dover Ave	2014	5,075	0.10 mi
N Franklin Ave	Maple Ave	2012	8,253	0.11 mi
W White Horse Pike	Malan Ave	2013	17,830	0.14 mi
Egg Harbor Rd	Laurel Ave	2013	1,414	0.23 mi
Egg Harbor Road	Laurel Ave	2017	1,513	0.24 mi
W White Horse Pike	S Brill Ave	2012	17,969	0.25 mi
Clementon Rd	Clementon Berlin Rd	2012	9,239	0.26 mi
Egg Harbor Road	N Brill Ave	2018	1,483	0.31 mi
Egg Harbor Rd	N Brill Ave	2013	1,094	0.32 mi
Bethel Avenue	Stokes Ave	2019	199	0.39 mi

Listing Broker

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