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Auto Service - Gas-Conv

Wawa | 20 Years Remain | NYC MSA | Highly Visible 5.89 -Acre Parcel to 68,970 VPD

1512 NJ-23, Wayne, NJ 07470

Listing Price: $7,717,172

Cap Rate
4.95%
Tenant Name
Wawa
Years Remaining On Lease
19.6
Guarantor
Corporate Guarantee
Rentable SF
4,736
Lease Type
NNN Ground Lease
Rent Per Square Feet
$80.66

Investment Overview

The Tenant, Wawa, Inc., is subject to a 20-year NNN ground lease and opened at the location on December 14, 2023. The lease features rental increases of 10 percent every five years during the base term and four five-year option periods, providing an excellent hedge against inflation. Wawa will operate in a 4,736-square-foot store with eight fueling pumps situated upon 5.83-acres . Wawa boasts an investment grade shadow rating of “BBB+” by Fitch.

Investment Highlights

  • New 20-Year Corporate Lease with 10% Increases Every 5 Years
  • One of Northern NJ's Top Retail Markets with High Barriers to Entry
  • Highly Visible 5.83-Acre Parcel to 68,970 VPD

Broker of Record

  • John Horowitz

    Senior Vice President/Division Manager

    (201) 742-6100

    License(s) NJ: 2192359

    New Jersey

Financing By

Auto Service - Gas-Conv

Wawa | 20 Years Remain | NYC MSA | Highly Visible 5.89 -Acre Parcel to 68,970 VPD

Listing Price: $7,717,172

Cap Rate
4.95%
Tenant Name
Wawa
Years Remaining On Lease
19.6
Guarantor
Corporate Guarantee
Rentable SF
4,736
Lease Type
NNN Ground Lease
Rent Per Square Feet
$80.66

Investment Highlights

  • New 20-Year Corporate Lease with 10% Increases Every 5 Years
  • One of Northern NJ's Top Retail Markets with High Barriers to Entry
  • Highly Visible 5.83-Acre Parcel to 68,970 VPD

Investment Overview

The Tenant, Wawa, Inc., is subject to a 20-year NNN ground lease and opened at the location on December 14, 2023. The lease features rental increases of 10 percent every five years during the base term and four five-year option periods, providing an excellent hedge against inflation. Wawa will operate in a 4,736-square-foot store with eight fueling pumps situated upon 5.83-acres . Wawa boasts an investment grade shadow rating of “BBB+” by Fitch.

Broker of Record

  • John Horowitz

    Senior Vice President/Division Manager

    (201) 742-6100

    License(s): NJ: 2192359

    New Jersey

Financing By

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