WAWA NNN Ground Lease | Exceptional Demographics 850,000+ Population

3901 Aramingo Ave, Philadelphia, PA 19137, USA
$12,745,652

Description

Marcus & Millichap is pleased to present this Corporate Guaranteed Wawa Convenience Store Ground Lease located at 3901 Aramingo Ave in Philadelphia, PA. The subject property consists of a 5,208 square foot Convenience Store and Gas Station with eight pumps and 16 Fueling Stations on a large 2.88 Parcel of Land.
Strategically located just minutes from Center City, Philadelphia on Aramingo Ave, the property benefits from great visibility and traffic counts in excess of 28,000 vehicles per day. The subject property is Ideally positioned directly off the exit of Interstate 95, a heavily traveled Highway serving the greater Philadelphia Metro area, averaging 197,000 Vehicles per Day.
There are multiple traffic drivers to this Wawa, including its location directly across the street from a Walmart Supercenter and Lowes Home Improvement, which serves as a straight consumer base from which to draw. Furthermore, the Subject Property is surrounded by an Impressive Roster of National Retailers including, but not limited to, Target, The Home Depot, Shop Rite, Five Below, Chic-Fil-A, KFC, as well as many others.
Wawa Inc. originally executed a 20-year Lease and has a lengthy 12.8 years remaining on the Base Term. Additionally, the Lease calls for Six Five- Year option periods bringing the Potential Lease Term to 50 Years. This Wawa is positioned in Core Philadelphia which benefits from a population greater than 800,000 and an average household income in excess of $64,816 within a five-mile radius.
Wawa 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, Washington DC and Florida. WAWA’s annual revenue is about $13 Billion with more than 900 locations with 31,000 Employees. Today, Wawa is your all day, everyday stop for fresh, built to order foods, beverages, coffee, fuel services, and surcharge-free ATMs.

 

  • Corporate Guarantee | Investment Grade Tenant | Fitch: BBB
  • Absolute NNN Ground Lease | Zero Landlord Responsibility
  • Exceptional Demographics | 850,000+ Population
  • Attractive 10% Rent Increases | Significant Hedge against Inflation
  • Long Term Lease with (6) Five-Year Options | Commitment to Site
  • High Visibility and Ease of Access | Signalized Hard Corner Intersection
  • Strong Traffic Counts exceeding 28,000 Vehicles Per Day
  • Right Across the Street From Walmart Supercenter and Lowe’s Home Improvement
  • Directly Off Exit of Interstate 95 | High Visibility | 197,000+ VPD
  • Very Large Parcel | 2.6+ Acres
  • Minutes from Center City, Philadelphia
  • Wawa is Considered an Essential Tenant

Property Documents

  • City: Philadelphia
  • State/county: Pennsylvania
  • Zip/Postal Code: 19137
  • Country: United States

Detail

  • Price: $12,745,652
  • Year Built: 2014

Additional details

  • CAP RATE: 4.60%
  • NOI: $586,300

Features

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