Wawa (GL)

320 PA-313, Perkasie, PA 18944

$6,400,000

Cap Rate 5.20%

$6,661,000

Cap Rate 5.00%

DOM: 169 Updated: 04.16.24 Posted: 10.11.23 Status: Sold 03.28.24

Summary

Price $6,400,000 $6,661,000	Built/Renov 2021	Tenant Wawa (GL)
Cap Rate 5.20% 5.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,585	Lease Start 02-14-2021	#Units 950
Price/SF $1,145.93 $1,192.66	Expiration 02-13-2041	Tenant Type Convenience/Gas
NOI $333,071	R. Term 15.9	Ownership Ground Lease
Rent/SF $59.64	Increases 10.0%/3/yrs	Pop 5Mi 47,934
Lot/AC 2.57	Options 6/5yrs/10%	AHHI 5Mi $146,294

Lease Highlights

Wawa has over 17 years remaining on the current lease term with 6 (5-year) options to extend
Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Wawa, Inc.

Location Description

Wawa is strategically positioned at the signalized corner intersection of Souderton Road (PA 113) and Dublin Pike (PA 313), offering excellent frontage and visibility with a combined traffic count of 22,545 vehicles. Conveniently, the subject property features points of ingress/egress on both PA 113 and PA 313. Adjacent to the Wawa property is a parcel where a Burger King is currently under...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Highway location
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long 15+ yr lease
Absolute NNN
Corporate Guarantee
Over 500 units backed

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Links

Wawa Wikipedia Wawa Wikipedia Perkasie, Pennsylvania Zip Code 18944 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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	3,388	14,679	48,297
2023 Total Population :	3,287	14,496	47,934
2023 Employed Civilian Pop :	1,828	7,921	26,960
2023 Total Businesses :	111	357	1,515
2023 Average Household Income :	$ 147,432	$ 152,870	$ 146,294
2023 Total Consumer Spending :	$ 167 M	$ 691 M	$ 2187 M
2023 Median Age :	40	41	42
2023 Total Households :	1,348	5,391	17,776
2023 Pop Age 25+: Bachelor's Degree :	637	3,148	10,212
2023 Average Home Value :	$ 487,002	$ 508,413	$ 498,203

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Dublin Pike	Dublin Pike	2017	15,886	0.21 mi
Souderton Road	Minsi Trl	2021	6,659	0.52 mi
Doylestown Pike	Rickert Rd	2019	15,026	0.54 mi
Doylestown Pike	Manor Dr	2021	12,627	0.54 mi
Bedminster Road	Buchanan Rd	2022	4,401	0.60 mi
Bedminster Road	Hill Rd	2021	4,547	0.60 mi
Elephant Road	Bedminster Rd	2021	2,082	0.82 mi
Elephant Rd	Saddlery Dr	2017	1,734	0.83 mi
Elephant Rd	Forest Dr	2017	1,734	0.89 mi
Minsi Trail	Schwenkmill Rd	2021	2,002	0.92 mi

Listing Broker

Michael Shover

CBRE: NLPG Philadelphia

Contact

62 Listings
14285 Views
36 Sold

Matthew Gorman

CBRE: NLPG Philadelphia

Contact

62 Listings
14285 Views
36 Sold

Michael Shover

Michael Shover joined CBRE as Senior Vice President in 2015 specializing in the sale of Net Lease properties in the Mid-Atlantic Region and throughout the country. Shortly after, Michael was inducted into CBRE’s exclusive Net Lease Property Group, leading and specializing in the Mid-Atlantic area. The Net Lease Property Group comprises of a team of senior advisors located within major metropolitan areas throughout the United States who are dedicated to transacting single-tenant assets and net-l

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Matthew Gorman

Matthew Gorman joined CBRE as Senior Vice President in 2015 specializing in the sale of Net Lease properties in the Mid-Atlantic Region and throughout the country. Matthew and his team's primary goal is to execute for their clients at the highest level by representing their best interests professionally, honestly and with integrity in all aspects of the marketing and sales process. Shortly after joining CBRE, Matthew was inducted into the exclusive Net Lease Property Group, leading the Philadel

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