Washington Township, NJ - Wawa

212 Blackwood Barnsboro Road, Washington Township, NJ

$6,360,000

Price

5%

Cap Rate

$318,000

NOI

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Overview
Cap Rate
5%
NOI
$318,000
Description

• The lease is corporate guaranteed by Wawa, Inc., an investment grade (Fitch: BBB), nationally recognized, and an established convenience store and gas brand with over 1,030+ locations
• Brand new 20-year ground lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 10% rental increases every 5 years starting in lease year 6 and at the beginning of each option period
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal management-free investment

• The subject property is strategically positioned on the border of New Jersey & Philadelphia, just 16 miles SE of Philadelphia and approximately 50-miles NE of Atlantic City, two large tourist destinations
• Rowan College of South Jersey (6,600 students) is less than 3-miles from the subject property while Rowan University is just 5-miles (15,200 students) away
• Deptford Mall is a Super Regional Mall located less than 5-miles north of Wawa consuming over 1,000,000 SF with major retailers such as Dick’s, Boscov’s, Macy’s and many others
• This site is situated at the hard corner, signalized intersection of State Highway 47 (31,800 VPD) and Blackwood-Barnsboro Road (8,400 VPD)
• Washington Township is conveniently located on the N-S Freeway (State Hwy 42) a the beginning of the Atlantic City Expressway, within a 10-mile radius there is access to Interstate 295, 95, 675 and New Jersey Turnpike
• The asset benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for customers
• Population counts exceed 181,000 individuals
• Features an average household income of $122,600

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Listing ID: a288X0000075c5iQAA
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