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Views: 105 Updated: 01.12.24 Posted: 03.16.23 Status: Inactive

Summary

Price $7,667,000
Built/Renov 2023
Tenant Wawa (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,051
Lease Start 05-02-2023
#Units 983
Price/SF $1,517.92
Expiration 05-01-2043
Tenant Type Convenience/Gas
NOI $345,000
R. Term 18.5
Ownership Ground Lease
Rent/SF $68.30
Increases 10.0%/5/yrs
Pop 5Mi 368,248
Lot/AC 0.38
Options 6/5yrs/10%
AHHI 5Mi $108,034

Lease Highlights

  • Brand-new construction 2023
  • Brand-new 20-year lease with 6 (5-Year) options to extend
  • The ground lease features 10% increases every 5 years and at the beginning of each option period
  • Absolute NNN | Presents zero landlord responsibilities
  • Corporate guaranteed by Wawa, Inc.

Location Description

This newly constructed Wawa is located near the signalized, hard corner intersection of White Horse Pike and West Cuthbert Boulevard which serves over 39,000 vehicles per day. The site also benefits from nearby access to U.S. Highway 130 (59,700 VPD) and State Highway 168 (16,400 VPD), making this an ideal and centralized location with easy commutes. Located in a dense retail corridor, Wawa is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wawa (GL)
  • Guarantor:Corporate
  • Company:Wawa, Inc.
  • # Units:983
  • 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
2028 Total Population : 19,049 144,302 368,593
2023 Total Population : 19,393 144,743 368,586
2023 Employed Civilian Pop : 11,125 72,218 182,909
2023 Total Businesses : 498 4,941 12,074
2023 Average Household Income : $ 109,148 $ 111,057 $ 110,058
2023 Total Consumer Spending : $ 823 M $ 5597 M $ 13652 M
2023 Median Age : 44 40 39
2023 Total Households : 8,791 58,735 144,456
2023 Pop Age 25+: Bachelor's Degree : 3,834 22,163 55,797
2023 Average Home Value : $ 322,943 $ 323,393 $ 319,714
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
White Horse Pike E Cedar Ave 2011 19,334 0.03 mi
Manor Avenue W PkAve 2017 947 0.11 mi
Manor Avenue 2018 1,173 0.14 mi
N White Horse Pike E Nicholson Rd 2011 44,844 0.15 mi
Cuthbert Blvd N Lecato Ave 2012 15,567 0.16 mi
Congress Ave Manor Ave 2013 211 0.17 mi
Manor Avenue Manor Ave 2018 1,259 0.18 mi
E Atlantic Ave W Nicholson Rd 2012 2,224 0.20 mi
Manor Ave W Holly Ave 2012 897 0.20 mi
Cuthbert Boulevard 2018 17,484 0.20 mi

Listing Broker

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