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Views: 34 DOM: 59 Updated: 07.08.24 Posted: 05.14.24 Status: Active


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....



  • 1 Mile
  • 3 Miles
  • 5 Miles


  • 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,...


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