loader
Join Free
Views: 34 DOM: 59 Updated: 07.08.24 Posted: 05.14.24 Status: Active

Summary

Price $6,086,000
Built/Renov 2024
Tenant Wawa (GL)
Cap Rate 4.60%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 6,119
Lease Start 09-01-2024
#Units 1,032
Price/SF $994.61
Expiration 08-31-2044
Tenant Type Convenience/Gas
NOI $280,000
R. Term 20.1
Ownership Ground Lease
Rent/SF $45.76
Increases 7.0%/5/yrs
Pop 5Mi 88,454
Lot/AC 2.34
Options 6/5yrs/7%
AHHI 5Mi $99,093

Lease Highlights

  • Brand new 2024 construction
  • Brand new 20-year ground lease with 6 (5-year) options to extend
  • The lease features 7% rental escalations starting in lease year 11 and at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wawa is strategically located on E Merritt Island Causeway, a major retail corridor, with access to a significant daily traffic count of 44,900 vehicles. The property is part of a larger development that includes Chipotle, 7-Eleven, El Car Wash, and Christian Brothers Automotive. Just west of the site is Merritt Square Mall, a super-regional mall anchored by Macy’s, JCPenney, and more....

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wawa
  • Guarantor:Corporate
  • Company:Wawa, Inc.
  • # Units:1,032
  • 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,...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

NEWSLETTER SIGN UP

Subscribe
my activity