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Views: 117 DOM: 142 Updated: 06.28.24 Posted: 11.08.23 Status: Sold 03.29.24

Summary

Price $5,368,500 $5,667,000
Built/Renov 2021
Tenant Wawa (GL)
Cap Rate 4.75% 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 6,119
Lease Start 11-01-2020
#Units 950
Price/SF $877.35 $926.13
Expiration 10-31-2040
Tenant Type Convenience/Gas
NOI $255,000
R. Term 16.1
Ownership Ground Lease
Rent/SF $41.67
Increases 7.0%/8/yrs
Pop 5Mi 45,995
Lot/AC 2.55
Options 6/5yrs/7%
AHHI 5Mi $18,124

Lease Highlights

  • Wawa has 16+ years remaining on the original 20-year ground lease with 6 (5-year) options to extend
  • The lease features 7% rental increases every 5 years 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 at the signalized, hard corner intersection of U.S. Highway 27 and South Highlands Avenue, averaging a combined 55,800 vehicles passing by daily. The asset benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for customers. The subject property features a Wawa-branded convenience store, several fuel pumps,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wawa
  • Guarantor:Corporate
  • Company:Wawa
  • # 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 : 3,212 17,313 35,577
2023 Total Population : 3,266 16,999 34,959
2023 Employed Civilian Pop : 668 5,146 10,850
2023 Total Businesses : 294 1,158 1,737
2023 Average Household Income : $ 45,892 $ 55,059 $ 62,446
2023 Total Consumer Spending : $ 69 M $ 354 M $ 855 M
2023 Median Age : 64 52 56
2023 Total Households : 1,713 7,310 15,613
2023 Pop Age 25+: Bachelor's Degree : 148 1,485 4,048
2023 Average Home Value : $ 164,541 $ 201,904 $ 217,035
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
United States Highway 27 Taubert St 2005 36,500 0.18 mi
Desoto Road Commerce Center 2022 5,300 0.49 mi
2005 10,700 0.77 mi
Sebring Parkway Youth Care Ln 2022 11,300 0.83 mi
Southeast Lakeview Drive United States Hwy 27 2022 9,500 0.93 mi
Sparta Road Schlosser Rd 2022 3,300 0.98 mi
United States Highway 27 SE Lakeview Dr 2005 44,500 1.02 mi
Southeast Lakeview Drive S Lakeview Ter 2021 14,800 1.03 mi
Southeast Lakeview Drive S Eucalyptus St 2022 15,200 1.03 mi
Orange Blvd 2022 31,000 1.05 mi

Listing Broker

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