Wawa (GL)

525 West Butler Avenue, Chalfont, PA 18914

$9,481,000

Cap Rate 4.65%

Views: 113 Updated: 04.02.24 Posted: 12.11.23 Status: Sold

Summary

Price $9,481,000	Built/Renov 2021	Tenant Wawa (GL)
Cap Rate 4.65%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,500	Lease Start 05-06-2021	#Units 950
Price/SF $2,106.89	Expiration 05-31-2041	Tenant Type Convenience/Gas
NOI $440,884	R. Term 16.5	Ownership Ground Lease
Rent/SF $97.97	Increases 10.0%/3/yrs	Pop 5Mi 141,460
Lot/AC 4.04	Options 6/5yrs/10%	AHHI 5Mi $143,837

Lease Highlights

Wawa has 17+ years remaining on the current lease term with 6 (5-year) options
Ground lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Wawa is strategically located on W Butler Ave, with access to 12,364 vehicles passing by daily and seconds away from County Line Road (15,587 VPD). The property is located across from the Giant-anchored shopping center, a hub for both national and local retailers, including McDonald's, Wells Fargo, Dunkin', CVS, and more. Moreover, it resides in the densely populated and affluent Bucks County,...

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Key Features

New construction
Signalized intersection
Near major nationals
Strategically located
Top 100 MSA
Strong demographics
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Chalfont, Pennsylvania Zip Code 18914 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wawa
Guarantor:Corporate
Company:Wawa, Inc.
# Units:950
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, V22. Wawa, a...

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Listing Broker

Steve Schrenk

Forged Real Estate

Contact

42 Listings
8387 Views
8 Sold

Marc Mandel

Forged Real Estate

Contact

42 Listings
8404 Views
8 Sold

Steve Schrenk

Steve Schrenk is the co-founder and Principal of Forged Real Estate. Steve specializes in the acquisition and disposition investment advisory services of single-tenant and multi-tenant net lease properties, sale-leasebacks, and small shopping centers throughout the country. Since 2018, Steve has been involved in 300+ transactions totaling over $1 billion in total volume. Steve is a knowledgeable real estate professional with years of experience who prides himself on the team’s client centric an

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Marc Mandel

Marc Mandel is the co-founder and Managing Principal of Forged Real Estate. Marc has over 18 years of experience in the commercial real estate industry and currently leads the team at Forged Real Estate with a focus on single-tenant, sale-leaseback, and small shopping center investment advisory services throughout the country. He has completed over 820 transactions throughout his career with a value of approximately $1.6 billion. Prior to founding Forged Real Estate, Marc previously was one of

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