Listing Contacts
Kenneth Yanni
License: PA RS323884
Bart Delfiner
License: PA RS223488L
Edward Ginn
License: PA RM050201A
Asking Price
$7,847,450
Address
Route 130 & Browning Lane
Brooklawn, NJ
Property Details
Asking Price
$7,847,450
Property Type
Retail
Investment Type
Net Lease
Lease Type
Absolute NNN
Tenant Credit
Corporate Guarantee
Tenancy
Single
Cap Rate
4.55%
Occupancy
100%
NOI
$357,059
Units
1
Year Built
2019
Lot Size (sq ft)
1.49
Rent Bumps
10% Every 5 Years
Ground Lease
Yes
Ownership
Ground Lease
Property Description
Equity Retail Brokers is proud to offer for sale to qualified investors is the rare opportunity to purchase a Wawa relocation store, located just outside of Philadelphia, in Brooklawn, NJ. Located in Brooklawn, NJ, the subject property features a free-standing Wawa with gas pumps. The property sits 1.75 miles from the Walt Whitman Bridge, 5 miles from Philadelphia International Airport, and 5.5 miles from Center City Philadelphia.

The subject property sits between the intersections of Browning Lane / Route 130 and Browning Lane / County Road 551. The site is visible to over 45,000 VPD, and surrounding demographics make this an ideal location for a convenience store. Surrounding the Wawa is Rite Aid, Verizon Wireless, KFC, AT&T, Dunkin Donuts, Shop Rite, Wells Fargo, Planet Fitness, Petco, and many more. 

Wawa has operated at a location across the street for many years, without gas pumps. The success of the "legacy" store over the years proves the viability of the new location. 

Property Highlights

STRONG FRANCHISE TENANT

  • Tenant: Wawa
  • Over 800 Locations Across Six States
STABLE INCOME 

  • Ground Lease — No Landlord Responsibilities
  • 20 years of initial term to begin in fall of 2019
  • 10% Rental Increases Every 5 years through term & options

STRONG RETAIL LOCATION

  • Traffic Counts: Crescent Blvd (26,371 ADT), Browning Lane (10,723 ADT), 
  • County Road 551 (8,884 ADT) 
  • Relocation Store