Overview
Wawa, Inc. is a leading convenience store and fuel operator experiencing strong growth across the Mid-Atlantic and Southeast, highlighted by this newly constructed 2024 prototype location featuring modern design, 16 fuel pumps, and a significant $7–$7.5 million tenant investment. The property is secured by a long-term absolute NNN ground lease with over 18 years remaining, providing a passive investment with no landlord responsibilities and 10% rent increases every five years for predictable NOI growth. Backed by an investment-grade (Fitch: BBB) corporate guarantee and approximately $18.6 billion in projected 2025 revenue, Wawa continues its aggressive expansion, opening 98 new stores in 2025 alone.
Investment Highlights
PRIME SIGNALIZED HARD CORNER – 46,000+ VPD
• Located at a four-way, signalized intersection with approximately 46,000 vehicles per day
• Adjacent to US Route 17 (19,000 VPD) and within 1.5 miles of US Highway 158 (20,000), two primary regional corridors
MILITARY & AVIATION DEMAND DRIVERS
• Within 5 miles of U.S. Coast Guard Air Station Elizabeth City and National Guard facilities (2,000+ Employees)
• Near Elizabeth City Regional Airport (within 6 miles), with 65% of the operations supporting aviation and Coast Guard operations
TOP-PERFORMING RETAIL CORRIDOR (PLACER.AI DATA)
• Surrounding retailers rank among top national performers based on annual visitors: Food Lion (Top 50%), Lowe’s (Top 10%), Walgreens (Top 25%), Burger King (Top 10%), Dunkin’ (Top 40%), Wendy’s (Top 50%), and Starbucks (Top 25%)
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Sales Team
