Views: 0 DOM: 33 Updated: 11.28.23 Posted: 11.08.23 Status: Active


Price $8,556,000
Built/Renov 2022
Tenant Wawa (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 6,141
Lease Start 01-01-2022
#Units 950
Price/SF $1,393.26
Expiration 12-31-2041
Tenant Type Convenience/Gas
NOI $385,000
R. Term 18.0
Ownership Ground Lease
Rent/SF $62.69
Increases 10.0%/4/yrs
Pop 5Mi 413,444
Lot/AC 1.34
Options 9/5yrs/10%
AHHI 5Mi $77,702

Lease Highlights

  • Wawa has 17+ years remaining on the original 20-year ground lease with 9 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wawa is strategically located at the signalized, hard corner intersection of W 16th Ave, W 29th St, and W Okeechobee Rd, averaging a combined 122,000 vehicles per day. The asset is located directly off State Highway 826 (277,000 VPD), allowing for direct on/off ramp access to the site. The property consists of a 6,141 SF convenience store, a canopy with eight gas pumps and sixteen nozzles...



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  • 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...



  1 Miles 3 Miles 5 Miles
2028 Total Population : 23,904 201,885 415,556
2023 Total Population : 23,333 202,767 413,444
2023 Employed Civilian Pop : 10,444 99,941 208,425
2023 Total Businesses : 2,541 20,102 44,641
2023 Average Household Income : $ 52,650 $ 66,169 $ 77,702
2023 Total Consumer Spending : $ 400 M $ 4149 M $ 9590 M
2023 Median Age : 46 44 42
2023 Total Households : 8,474 71,082 141,200
2023 Pop Age 25+: Bachelor's Degree : 1,866 23,665 55,566
2023 Average Home Value : $ 288,301 $ 390,950 $ 416,709
*ESRI data is presented for informational purposes only


Collection Street Cross Street Year Traffic Vol Distance
Okeechobee Road W 16th Ave 2021 54,500 0.07 mi
Okeechobee Road NW 91st Ter 2022 58,500 0.07 mi
Northwest 72nd Avenue NW 77th Ter 2022 17,200 0.28 mi
S Okeechobee Rd W 32nd Pl 2009 63,000 0.39 mi
Palmetto Expressway NW 77th Ave 2019 233,000 0.53 mi
W 20th Ave S Okeechobee Rd 2004 9,700 0.53 mi
Express Lanes W 49th St 2022 250,000 0.54 mi
Bridge No-870975 NW 80th Ter 2021 245,000 0.54 mi
NW South River Dr Palmetto Expy 2005 3,700 0.54 mi
2006 16,170 0.54 mi

Listing Broker

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