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Views: 189 DOM: 703 Updated: 10.15.24 Posted: 12.12.22 Status: Active

Summary

Price $7,979,000
Built/Renov 2023
Tenant Wawa (GL)
Cap Rate 4.70%
Lease Type NN+
Guarantor Corporate
Size/SF 5,585
Lease Start 09-01-2023
#Units 1,050
Price/SF $1,428.65
Expiration 09-01-2043
Tenant Type Convenience/Gas
NOI $375,000
R. Term 18.9
Ownership Ground Lease
Rent/SF $67.14
Increases 10.0%/5/yrs
Pop 5Mi 462,777
Lot/AC 1.55
Options 6/5yrs/10%
AHHI 5Mi $113,495

Lease Highlights

  • 2023 new construction
  • Wawa has 18+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
  • Minimal landlord responsibilities 
  • Corporate guarantee by Wawa, Inc.

Location Description

The subject property is strategically located along W. Edgar Road (70,100 VPD), and is near Interstate 95, one of the busiest highways in the U.S. with daily traffic exceeding 251,400 vehicles per day. The site is currently under construction and will feature a state-of-the-art design and high-quality materials. Furthermore, the site benefits from excellent visibility via significant street...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 14,690 148,938 469,970
2022 Total Population : 13,962 147,856 466,403
2022 Employed Civilian Pop : 6,609 71,908 223,279
2022 Total Businesses : 624 4,568 14,427
2022 Average Household Income : $ 92,492 $ 103,659 $ 112,614
2022 Total Consumer Spending : $ 398 M $ 4635 M $ 15554 M
2022 Median Age : 39 40 39
2022 Total Households : 5,089 52,987 163,723
2022 Pop Age 25+: Bachelor's Degree : 1,819 20,604 67,089
2022 Average Home Value : $ 427,959 $ 367,845 $ 432,069
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Pleasant Street 2017 7,735 0.21 mi
East Edgar Road Smith St 2017 62,489 0.27 mi
W Edgar Rd Edward St 2013 54,154 0.38 mi
W Edgar Rd S Stiles St 2013 54,154 0.40 mi
West Linden Avenue 2018 6,878 0.46 mi
S Stiles St W Munsell Ave 2013 8,405 0.50 mi
S Stiles St W 16th St 2017 6,844 0.54 mi
Lower Rd Range Rd 2015 6,217 0.58 mi
W Edgar Rd E Lincoln Ave 2013 64,613 0.59 mi
W Elizabeth Ave Lindegar St 2010 10,552 0.61 mi

Listing Broker

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