Atlantic Capital Partners has been exclusively engaged to solicit offers for the wale of the Wawa, Inc. ground lease located at 1900 North Croatan Highway in Kill Devil Hills, NC. This soon-to-be 6,000 SF single-tenant fuel and convenience store is currently under construction and sits on a 2.32-acre site in the heart of Kill Devil Hills’ primary retail node. Immediate market co-tenants include Publix, Target, and Lowe’s, which create a synergistic Tenant Mix for the site.

Wawa, Inc. signed a new, 20-year ground lease and term has not commenced. The lease features 10% rental increases every 5 years through the initial term and the beginning of each option period, steadily growing NOI. The terms of the lease provide ownership with ease of investment through a NNN structure, while providing consistent income.

Wawa | Kill Devil Hills is being offered for sale at an asking price of $6,147,000, equating to a 4.75% CAP Rate.