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Wawa Ground Lease 2137 Schillinger Rd N 5,915 SF Retail Building Semmes, AL 36575 $3,399,000 ($574.64/SF) 5.15% Cap Rate

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Investment Highlights

New 20-year absolute NNN ground lease to Wawa, a leading chain of convenience stores and fuel stations that is aggressively expanding its presence.
Tenant covers all taxes, insurance, and maintenance, including roof, structure, and parking lot, providing a fully passive investment
Wawa plans to nearly double its store count by 2030 to approximately 1,800 locations

5% rental increases every five (5) years starting in year 11, ensuring consistent income growth.
Corporate-backed lease by Wawa, Inc., ranked #20 on the Forbes Largest Private Companies List, providing investor confidence in a proven brand.

Executive Summary

The property is located at a high-visibility, easily accessible signalized four-way intersection at Schillinger Road and Silver Pine Road, with combined traffic counts exceeding 24,000 AADT. Wawa continues to expand beyond its traditional East Coast footprint, with new locations opening across Georgia, Alabama, and the Carolinas, and plans to enter Tennessee and Kentucky in the coming years. The surrounding five-mile radius serves a population of 69,298, with average annual household income of $96,351 within one mile. The site is positioned directly across the street from a newly constructed Publix Supermarket, supporting strong crossover shopping traffic. The absolute NNN ground lease structure places all maintenance and expense responsibilities on the tenant, including roof, structure, and parking lot. Projected income growth within the one-, three-, and five-mile radii over the next five years positions both the Wawa location and the broader Semmes market for steady, concurrent growth.