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Views: 162 Updated: 03.20.24 Posted: 09.08.23 Status: Sold

Summary

Price $3,700,000
Built/Renov 2023
Tenant Wawa (GL)
Cap Rate 4.46%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 6,119
Lease Start 10-12-2023
#Units 950
Price/SF $604.67
Expiration 10-30-2043
Tenant Type Convenience/Gas
NOI $165,000
R. Term 19.1
Ownership Ground Lease
Rent/SF $26.97
Increases 7.0%/11/yrs
Pop 5Mi 57,035
Lot/AC 2.35
Options 6/5yrs/7%
AHHI 5Mi $80,664

Lease Highlights

  • Brand-new 2023 construction
  • Wawa recently signed a new 20-year lease with 6 (5-year) options to extend
  • Lease features a 7% rental increase every 5 years beginning in year 11 and throughout each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Wawa, Inc.

Location Description

This brand-new Wawa is conveniently located at the hard, signalized corner of southwest 100th Street & State Hwy 200 (42,000 VPD). State Hwy 200 provides direct access to Interstate 75 which sees an estimated 74,600 vehicles per day. The property will benefit from having two points of entrance, with excellent visibility and access. Within 1.5 miles, there are many national retailers, including...

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Maps

  • 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 : 5,747 43,418 76,243
2023 Total Population : 5,498 33,437 57,035
2023 Employed Civilian Pop : 1,374 7,921 16,906
2023 Total Businesses : 250 603 1,038
2023 Average Household Income : $ 70,217 $ 76,022 $ 80,664
2023 Total Consumer Spending : $ 193 M $ 1169 M $ 1927 M
2023 Median Age : 75 71 67
2023 Total Households : 3,154 17,660 27,449
2023 Pop Age 25+: Bachelor's Degree : 950 5,910 9,858
2023 Average Home Value : $ 207,303 $ 250,503 $ 262,489
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
SW Hwy 200 SW 99th StRd 2008 32,500 0.10 mi
SW 80th Ave Hwy 200 2018 35,000 0.31 mi
SW 95th Cir 2019 42,000 0.31 mi
Southwest 80th Avenue SW 100 St 2021 3,900 0.32 mi
SW 80th Ave SW 100 St 2008 2,400 0.41 mi
FL 200 SW 103rd Street Rd 2021 31,000 0.49 mi
SW 103rd Street Rd SW Hwy 200 2008 5,900 0.52 mi
SW 80th Ave SW 90th St 2008 7,500 0.88 mi
SW 105th St SW Hwy 200 2008 800 0.98 mi
SW Hwy 200 SW 93rd StRd 2008 24,900 1.06 mi

Listing Broker

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