Auto Service - Gas-Conv
Wawa US-1 | 19+ Years at Location | Recently Exercised 20-Year Lease Extension
4625 Harrison Rd, Fredericksburg, VA 22408
Listing Price: $4,080,000
Investment Overview
Marcus & Millichap is pleased to present a premier net lease investment opportunity. Wawa has occupied the property since 2006, demonstrating long-term commitment to the location by exercising two 10-year renewal options early. The lease includes over 16 years of remaining term, with zero landlord responsibilities and 7.5% rental increases every five years. The next scheduled increase occurs on July 31, 2026.
This is an Absolute NNN Ground Lease corporately guaranteed by Wawa, Inc., one of the largest privately held companies in the United States. Ranked No. 22 on Forbes’ list of America’s Largest Private Companies, Wawa reports annual revenues of approximately $18.8 billion. The lease is currently priced approximately 30% below market rent, providing a strong foundation for continued success and long-term growth.
The property is prominently located at a signalized intersection along US-1, offering exceptional visibility and exposure, with traffic counts exceeding 41,000 vehicles per day. Strategically positioned near major highways, it benefits from its location within a key commuter corridor, with many residents traveling daily to Washington, D.C., Richmond, Fairfax, and other regional employment hubs. This dynamic supports strong daytime population and steady fuel demand. Additionally, the presence of over 16 auto dealerships within a one-mile radius creates a built-in, captive audience and contributes to sustained customer traffic.
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Wawa US-1 | 19+ Years at Location | Recently Exercised 20-Year Lease Extension
Investment Highlights
- Long-Term Tenant Commitment: Wawa has operated at this location since 2006, demonstrating long-term commitment by proactively exercising two 10-year renewal options.
- The lease includes over 16 years of remaining term, with zero landlord responsibilities and 7.5% rental increases every five years. The next scheduled rent increase is on July 31, 2026.
- Absolute NNN Ground Lease with Corporate Guarantee: The lease is backed by a corporate guarantee from Wawa, Inc., one of the largest privately held companies in the U.S.
- Wawa is ranked No. 22 on Forbes' list of America's Largest Private Companies, generating approximately $18.8 billion in annual revenue. revenue.
- Significant Rent Upside – Below Market Lease: The current lease is priced approximately 30% below market rent, providing built-in value and a strong foundation for long-term income growth and capital appreciation.
- High-Visibility Location on Major Corridor: Positioned at a signalized intersection along US-1, the property enjoys outstanding visibility and access, with traffic counts exceeding 41,000 vehicles per day—ideal for maximizing customer exposure.
- Robust Surrounding Economic Drivers: Located in a highly active commuter corridor, the property benefits from steady daily traffic from residents commuting to Washington, D.C., Richmond, and Fairfax. The surrounding area supports a strong daytime population and sustained fuel demand. Additionally, over 16 auto dealerships within a one-mile radius create a built-in customer base and contribute to consistent traffic volume.
Exclusively Listed By
Broker of Record
-
Brian Hosey
Senior Managing Director / Market Leader
Auto Service - Gas-Conv
Wawa US-1 | 19+ Years at Location | Recently Exercised 20-Year Lease Extension
Listing Price: $4,080,000
Investment Highlights
- Long-Term Tenant Commitment: Wawa has operated at this location since 2006, demonstrating long-term commitment by proactively exercising two 10-year renewal options.
- The lease includes over 16 years of remaining term, with zero landlord responsibilities and 7.5% rental increases every five years. The next scheduled rent increase is on July 31, 2026.
- Absolute NNN Ground Lease with Corporate Guarantee: The lease is backed by a corporate guarantee from Wawa, Inc., one of the largest privately held companies in the U.S.
- Wawa is ranked No. 22 on Forbes' list of America's Largest Private Companies, generating approximately $18.8 billion in annual revenue. revenue.
- Significant Rent Upside – Below Market Lease: The current lease is priced approximately 30% below market rent, providing built-in value and a strong foundation for long-term income growth and capital appreciation.
- High-Visibility Location on Major Corridor: Positioned at a signalized intersection along US-1, the property enjoys outstanding visibility and access, with traffic counts exceeding 41,000 vehicles per day—ideal for maximizing customer exposure.
- Robust Surrounding Economic Drivers: Located in a highly active commuter corridor, the property benefits from steady daily traffic from residents commuting to Washington, D.C., Richmond, and Fairfax. The surrounding area supports a strong daytime population and sustained fuel demand. Additionally, over 16 auto dealerships within a one-mile radius create a built-in customer base and contribute to consistent traffic volume.
Investment Overview
Marcus & Millichap is pleased to present a premier net lease investment opportunity. Wawa has occupied the property since 2006, demonstrating long-term commitment to the location by exercising two 10-year renewal options early. The lease includes over 16 years of remaining term, with zero landlord responsibilities and 7.5% rental increases every five years. The next scheduled increase occurs on July 31, 2026. This is an Absolute NNN Ground Lease corporately guaranteed by Wawa, Inc., one of the largest privately held companies in the United States. Ranked No. 22 on Forbes’ list of America’s Largest Private Companies, Wawa reports annual revenues of approximately $18.8 billion. The lease is currently priced approximately 30% below market rent, providing a strong foundation for continued success and long-term growth. The property is prominently located at a signalized intersection along US-1, offering exceptional visibility and exposure, with traffic counts exceeding 41,000 vehicles per day. Strategically positioned near major highways, it benefits from its location within a key commuter corridor, with many residents traveling daily to Washington, D.C., Richmond, Fairfax, and other regional employment hubs. This dynamic supports strong daytime population and steady fuel demand. Additionally, the presence of over 16 auto dealerships within a one-mile radius creates a built-in, captive audience and contributes to sustained customer traffic. 6
Exclusively Listed By
Broker of Record
-
Brian Hosey
Senior Managing Director / Market Leader
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