Listing Contacts
Kenneth Yanni
License: PA RS323884
Bart Delfiner
License: PA RS223488L
Asking Price
$7,078,651
Address
904 Haddonfield Rd
Cherry Hill, NJ
Property Details
Asking Price
$7,078,651
Property Type
Retail
Sub Type
Freestanding Convenience Store
Investment Type
Net Lease
Lease Type
NNN
Tenancy
Single
Lease Term
20.1 years
Lease Commencement
10/15/2019
Rent Commencement
10/15/2019
Lease Expiration
10/31/2039
Remaining Term
19.4 years
Square Footage
5,585
Price/Sq Ft
$1,267.44
Cap Rate
4.45%
Occupancy
100%
NOI
$315,000
Year Built
2019
Ground Lease
Yes
Property Description
Equity Retail Brokers is pleased to exclusively offer for sale to qualified investors the opportunity to purchase a single-tenant NNN ground lease to in Cherry Hill, NJ. 

Wawa, Inc is a privately held convenience store chain with more than 840 locations in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, and Florida. Wawa is ranked #36 among America’s largest private companies and has an annual revenue of over $8.9 billion.

Cherry Hill, NJ is a major Philadelphia suburb on the New Jersey side of the Delaware River. Being just 10 minutes from Center City Philadelphia, Cherry Hill has a vibrant retail market, strong office population, and large commuter population. The subject property is located on Haddonfield Road and directly across from the entrance to Towne Place at Garden State Park, a bustling lifestyle center which includes tenants such as Wegman’s, Home Depot, Chick-Fil-A, Starbucks, Nordstrom Rack, Cheesecake Factory, Panera Bread, and many more. 

The subject property was built in 2019 and is subject to a 20-year ground leases, which offers zero landlord responsibilities. There are attractive rental increases through the initial term of the lease and options.

Property Highlights
STRONG CORPORATE TENANT
  • Tenant: Wawa
  • Number of Stores: Over 850 and counting
  • Number of Employees: Over 30,000
  • Annual Revenue: Exceeds $8.9 billion
STABLE INCOME
  • Ground Lease — No Landlord Responsibilities
  • 20 years of firm initial term
  • 10% rental increases every 5 years beginning in year 11
IDEAL LOCATION
  • Easy commute to Center City Philadelphia (8 miles)
  • Under 90 miles to New York City
  • 15 miles to Philadelphia International Airport
  • Traffic Count: Haddonfield Rd: 38,330 ADT (REGIS Online) *Full-turn signalized access to Haddonfield Rd