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DOM: 223 Updated: 01.12.24 Posted: 03.29.23 Status: Sold 11.08.23

Summary

Price $6,700,000 $7,333,000
Built/Renov 2022
Tenant Wawa (GL)
Cap Rate 4.93% 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,000
Lease Start 11-01-2022
#Units 983
Price/SF $1,340.00 $1,466.60
Expiration 11-01-2042
Tenant Type Convenience/Gas
NOI $330,000
R. Term 17.5
Ownership Ground Lease
Rent/SF $66.00
Increases 10.0%/4/yrs
Pop 5Mi 216,970
Lot/AC 1.57
Options 6/5yrs/10%
AHHI 5Mi $99,179

Lease Highlights

  • New 2022 construction
  • Brand-new 20 year lease with 6 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at each option period
  • Absolute NNN ground lease with zero landlord responsibilities
  • Corporate guarantee by Wawa, Inc.

Location Description

This newly constructed Wawa is strategically fronting the Bordertown Road & South Broad Street traffic circle with an average 47,500 vehicles passing per day. The asset is directly off Interstate 295 and Interstate 195, two dominant New Jersey East Coast Highways seeing nearly 200,000 vehicles passing per day combined. The subject property is located near Independence Plaza, a 252,000 SF...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wawa (GL)
  • Guarantor:Corporate
  • Company:Wawa, Inc.
  • # Units:983
  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,010 105,625 216,130
2023 Total Population : 10,045 106,460 217,460
2023 Employed Civilian Pop : 5,527 52,502 105,377
2023 Total Businesses : 209 2,289 7,004
2023 Average Household Income : $ 103,785 $ 94,665 $ 101,641
2023 Total Consumer Spending : $ 357 M $ 3076 M $ 6905 M
2023 Median Age : 44 39 39
2023 Total Households : 4,064 37,756 78,989
2023 Pop Age 25+: Bachelor's Degree : 1,746 13,298 30,941
2023 Average Home Value : $ 271,227 $ 287,170 $ 316,444
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Park Alley Pearson Dr 2018 3,947 0.03 mi
Bordentown Rd PkAly 2010 22,607 0.07 mi
I 195 West Park Aly 2020 2,982 0.09 mi
S Broad St Mapleshade Ave 2009 24,845 0.10 mi
White Horse Ave Locust Ave 2009 11,135 0.10 mi
I 195 West Ruskin Ave 2020 1,983 0.15 mi
South Clinton Avenue Mapleshade Ave 2017 6,959 0.18 mi
Exit 1D Bordentown Rd 2020 1,645 0.22 mi
Exton Avenue White Horse Ave 2018 11,497 0.27 mi
Hobson Avenue Olympia Ave 2018 1,124 0.28 mi

Listing Broker

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