195 White Horse PikeBerlin, NJ 08009

For Sale
$5,333,335

High-Yield NNN Retail Property

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional investment opportunity presents a 4,131 square foot Wawa convenience store and gas station located at 195 W White Horse Pike in Berlin, New Jersey. Built in 2010, this single-story building sits on a 3.47-acre lot and boasts a 100% occupancy rate with a corporate-guaranteed Absolute NNN lease. The current lease features attractive rent bumps every five years and includes four, five-year renewal options, providing a secure, long-term investment with a projected NOI of $280,000 and a 5.25% cap rate. The property benefits from a prime location at a signalized intersection of major roadways, providing excellent visibility and accessibility. This high-traffic area is surrounded by dense residential neighborhoods, schools, and numerous other retail establishments, ensuring a consistent customer base. The lease requires zero landlord responsibilities, making this an ideal passive investment opportunity with significant upside potential. The asking price is $5,333,335. The property's strong demographics, with over 58,900 people within a 3-mile radius and an average household income exceeding $112,623, further solidify its investment appeal. Daily traffic counts exceeding 27,800 vehicles underscore the property's strategic location and high visibility. This Wawa ground lease offers investors long-term security, excellent corporate backing, and strong underlying real estate fundamentals.

Highlights

  • 16+ year Absolute NNN ground lease with four 5-year renewal options; Wawa occupied since 2010.
  • Rent increases every five years, hedging against inflation.
  • Wawa: strong corporate tenant with over 1,050 US locations and $18.5B estimated 2023 revenue.
  • Zero landlord responsibilities; passive investment opportunity.
  • Signalized intersection of S Franklin Ave and W White Horse Pike (US Route 30), providing high visibility and access to major roadways.
  • Strong retail trade area including Home Depot, Walmart, and numerous restaurants.

Property Details for 195 White Horse Pike

Property type
Other retail properties, Automotive properties
Square Feet
4,131 SF
Year Built
2010
Buildings
1
Stories
1
Lot Size (sq. ft)
151,153 SF
Units
1

Location Insight

City
Berlin
County
Camden
State
New Jersey
Latitude
39.8030651
Longitude
-74.9508111
195 White Horse Pike, Berlin, New Jersey

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195 White Horse Pike
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