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Wawa, Franklin, VA

Wawa

Franklin, Virginia

Price $3,334,000
Cap Rate 4.50%
NOI $150,000
Lease Term 20 Years
Lease Type Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years In Option Periods
Year Built 2022
Building Size 6,049 SF
Lot Size 1.88 Acres (81,893 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW 20-YEAR ABSOLUTE NNN LEASE
» New 20-year absolute NNN lease with six (6) extension periods of five (5) years each
» 10% rental increases every five years, providing an excellent hedge against inflation
» Long-term lease to strong and expanding operator with 900+ units
» Corporate guaranty from Wawa, Inc., ranked #25 on the Forbes Largest Private Companies List
» No landlord obligations – ideal no-management investment for an out-of-area investor
» 2022 construction to tenant’s latest prototype

EASILY ACCESSIBLE, GROWING, AND HIGH-TRAFFIC LOCATION IN POPULOUS VIRGINIA SUBMARKET
» Located on a signalized intersection with full access
» 35,101 residents within a 15-mile radius of the property, providing a large customer base for the location
» High-visibility location along State Route 671/Armory Drive (13,000 AADT)
» Beneficial proximity to U.S. Route 58/South Hampton Parkway (18,000 AADT)
» Two miles from Downtown Franklin, increasing visibility and traffic to the site
» Projected nine percent average annual household income increase within a five-mile radius of the property in the next five years, poising Wawa and Franklin for significant concurrent growth

CENTRAL LOCATION NEAR MULTIPLE RETAILERS AND COMMUNITY HUBS
» Directly across from the only Walmart Supercenter location within 25 miles of the site
» Cross access with Dollar Tree and Tractor Supply Company, increasing the site’s visibility
» Surrounded by a strong mix of additional local and national retailers, including Lowe’s, McDonald’s, Food Lion, Belk, Taco Bell, Dairy Queen, Dollar Tree, and many more
» Walking distance from five hotels, increasing foot traffic to the location
» 10 miles from the Virginia/North Carolina border, significantly increasing commuter traffic to the site


Property Description

The property is conveniently located along State Route 671/Armory Drive, with visibility and access to a combined 13,000 AADT. The location maintains a beneficial proximity to U.S. Route 58/South Hampton Parkway (18,000 AADT). The site benefits from its location in a populous area, with 35,101 residents living within a 15-mile radius of the property. With a projected nine percent average annual household income increase within a five-mile radius of the property in the next five years, Wawa and Franklin are poised for significant concurrent growth. The location is also two miles from Downtown Franklin, increasing visibility and traffic to the site.

The property has a central location near multiple area retailers and community hubs. The site has cross access with Dollar Tree and Tractor Supply Company, increasing its visibility. It is also across the street from the only Walmart Supercenter within 25 miles of the site. The property is surrounded by a strong mix of additional local and national retailers, including Lowe’s, McDonald’s, Food Lion, Belk, Taco Bell, Dairy Queen, Dollar Tree, and many more. The property is also walking distance from five hotels, increasing foot traffic to the location. The site benefits from its proximity 10 miles from the Virginia/North Carolina border, significantly increasing commuter traffic to the site.

Contact Us About This Property


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