Wawa

  • $7.7M
Route 130 & Browning Lane, Brooklawn, NJ 08030, USA

Wawa

Route 130 & Browning Lane, Brooklawn, NJ 08030, USA
  • $7.7M

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Title Property Type Price Beds Baths Property Size Availability Date
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Description

Marketing Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN ground leased, corporate guaranteed, Wawa investment property located in Brooklawn, NJ. The tenant, Wawa, Inc., recently executed 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, growing NOI and hedging against inflation. The state-of-the-art property recently opened in October 2019 featuring a convenience store with gas stations. The lease is corporately guaranteed by Wawa, Inc., an established convenience store and gas brand with over 860 locations. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
The subject property is strategically located at the signalized, hard corner intersection of U.S. Highway 130 and Browning Lane (combined 30,500 VPD). The asset is also just 0.6 miles west of Interstate 76 (172,100 VPD) and 1.2 miles north of Interstate 295 (86,700 VPD) with convenient on/off ramp access. The site is located directly across the street from ShopRite of Brooklawn which is anchored by ShopRite, Petco, Planet Fitness, and Dollar Tree, increasing consumer traffic to the trade area and promoting crossover shopping. Moreover, the asset is also just 2 miles from Audubon Crossings, a 388,500 SF shopping center anchored by Walmart Supercenter, Marshalls, Evolve Fitness, and Ross Dress For Less. Other nearby national/credit tenants include ALDI, CVS, Walgreens, Dollar Tree, Family Dollar, and more. The 5-mile trade area is supported by a population of over 376,200 residents with a healthy average household income of $84,600.

Investment Highlights
Brand New 20-Year Ground Lease | Corporate Guaranteed | Scheduled Rental Increases | New 2019 Construction
Absolute NNN | Land Ownership | Zero Landlord Responsibilities
Strong Demographics In the 5-mile Trade Area
Directly Across From ShopRite Anchored Center | Audubon Crossings (388,500 SF) | Nearby National/Credit Tenants
Signalized Hard Corner Intersection | Major Thoroughfares | Excellent Visibility & Access

Broker of Record
David Wirth
License: 1007635

Details

Updated on April 12, 2020 at 6:38 pm
  • Property ID: 30847
  • Price: $7.7M
  • Property Size: 4950 sqft
  • Year Built: 2019
  • Property Type: Retail
  • Property Status: For Sale
  • Lot Size (acres): 1.49
  • Tenancy: Single
  • Cap Rate: 4.65%
  • Net Operating Income: 357,059

Additional details

  • Lease Type: Absolute NNN
  • Tenant Credit: Corporate Guarantee
  • Zoning: PC-3: Planned Community
  • Parking (spaces): 28
  • APN: 0407_101_2 & 0407_101_3
  • Lease Options: 6 (5-Year)
  • Ground Lease: Yes
  • Ownership: Leased Fee
  • Address Route 130 & Browning Lane, Brooklawn, NJ 08030, USA
  • City Brooklawn
  • State/county New Jersey
  • Zip/Postal Code 08030
  • Country United States

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Contact Information

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Britt Raymond
  • Britt Raymond
  • (929) 229-2614

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Britt Raymond
  • Britt Raymond