Stafford, VA - Wawa

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Wawa investment property located in Stafford, Virgina. The tenant, WAWA, INC signed a 20-year lease with 16+ years remaining, and 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years beginning lease year 11 throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

The Wawa is located at the signalized, hard corner intersection of Garrisonville Road and Tech Parkway (72,000 VPD). Garrisonville Road is the major retail thoroughfare serving North Stafford, with access to Interstate 95 (141,000 VPD). The Wawa is a freestanding 3.11-acre parcel at the entrance to the Tech Parkway office node, directly across from Sheetz. The asset is adjacent to a Walmart Neighborhood Market anchored center that also features national/credit tenants including Goodwill, Dollar Tree and Firehouse Subs. In addition, Wawa is near Doc Stone Commons, a The Home Depot and Giant anchored center, and Target and Kohl’s anchored Stafford Marketplace. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Weis Markets, ALDI, CVS, Tractor Supply, Petco, and more, further increasing consumer traffic to the site. The subject property is in close proximity to Camp Barrett, the Marine Corps Base Quantico installation home to The Basic School, which trains all newly commissioned Marine officers. The 5-mile trade area is supported by a population of over 77,000 with an average household income of over $175,000.

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