Muncie, IN - 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 Muncie, Indiana. The tenant, Wawa, recently signed a brand new 20-year lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years 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 a passive investor. Wawa is one of America’s largest private companies with over 1,200 locations. Wawa is actively expanding across the Midwest with plans for 70 locations in Indiana and an expected investment of $7.5 million per location, underscoring the brand’s commitment to the region.

The Wawa is located near the intersection of US Highway 35 and E Jackson St with a combined 33,200 vehicles passing by daily. E Jackson St is a major east-west thoroughfare serving the city of Muncie. Muncie is also home to Ball State University, which has a student population of over 20,000. Ball State University is nearing completion of its $195 million revitalization project, which aims to better connect the university and Muncie while attracting additional visitors to the area through the development of new hotels, attractions, and retail. The immediate trade area is supported by a population of over 60,600 residents and 32,700 employees within 5 miles and residents within 1 mile have an average household income of $62,541.

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Listing ID: a28TP000003NjKVYA0