Lebanon, OH - Wawa

Description:

SRS National Net Lease Group, LP is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, new construction Wawa investment property located in Lebanon, Ohio (Cincinnati MSA). The tenant, Wawa, Inc., recently executed a brand new 20-year lease with 6 (5-year) options to extend, reflecting long-term commitment to the location. The lease features 7% rental increases in year 11 and year 16 during the initial term, and at the beginning of each option period, hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, creating an ideal, management-free opportunity for a passive investor. The property features new construction with Wawa’s modern building prototype and updated store design, including 16 fuel pumps.

The asset is strategically positioned near the on/off ramps of Interstate 71 (47,500 VPD) and State Highway 48 (28,100 VPD), two heavily traveled commuter corridors providing direct connectivity to downtown Cincinnati and the broader region. Directly across State Route 48 sits the Ohio State Patrol headquarters, reinforcing daily traffic, while the property also benefits from its location in Lebanon, the county seat of Warren County and a central hub for civic, legal, and administrative activity. One exit south is Kings Island, one of the largest amusement parks in the Midwest, drawing millions of visitors annually and generating substantial seasonal and weekend traffic. Furthermore, directly across from Kings Island is the Lindner Family Tennis Center, host of the Cincinnati Open, a premier professional tennis tournament, which has undergone over $250 million in public and private investment to support year-round use and global attendance. The surrounding area is further supported by over 1.7 million square feet of nearby industrial space anchored by major users such as FedEx, operating at an exceptionally low 0.4% vacancy rate, driving consistent daytime population from a dense labor force. Combined with strong crossover traffic from national retailers including Home Depot, Target, Lowe’s, and Kohl’s within one mile, and an affluent five-mile trade area supported by 72,500 residents and 29,300 employees, the location provides a compelling environment for a high-volume QSR, fuel, and convenience-oriented use

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Listing ID: a28TP0000026UALYA2