Wawa | 1300 N Memorial Dr
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Wawa 1300 N Memorial Dr
5,915 SF Retail Building Greenville, NC 27834 £2,973,310 (£503/SF) 5% Net Initial Yield
Investment Highlights
- New 20-year absolute NNN ground lease with six (6) extension periods of five (5) years each
- Wawa plans to nearly double its store count by 2030 to approximately 1,800 locations
- Corporate guaranty from Wawa, Inc., ranked #20 on the Forbes Largest Private Companies List
- 10% rental increases every five years in initial term and option periods
- No landlord obligations – ideal no-management investment for an out-of-area investor
Executive Summary
Just five miles from East Carolina University, home to over 32,000 students and faculty, ensuring steady foot traffic from the university community. Prime location along North Memorial Drive, offering easy access to a high-traffic area with thousands of vehicles passing by daily. Located near ECU Health Medical Center, a leading hospital in the region with over 900 beds, attracting regular traffic from healthcare workers, patients, and visitors. Close proximity to Greenville’s retail hub, with major stores like Walmart, Target, and Best Buy, attracting consistent consumer activity. Situated within a busy commercial zone, surrounded by banks, restaurants, and essential services that contribute to additional customer flow. Located in a growing residential area, meeting demand for fuel, groceries, and quick-service food for local families and commuters. Within a short drive of Greenville Mall and the Uptown Greenville District, popular shopping and dining destinations for locals and visitors » Conveniently near Pitt Community College, serving over 8,000 students, driving additional foot traffic throughout the week
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
5,915 SF
Building Class
B
Year Built
2024
Price
£2,973,310
Price Per SF
£503
Net Initial Yield
5%
NOI
£148,666
Tenancy
Single
Number of Floors
1
Building FAR
0.04
Lot Size
3.03 AC
Opportunity Zone
Yes
Parking
54 Spaces (9.13 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 053231 | Improvements Assessment | £27,840 |
| Land Assessment | £116,835 | Total Assessment | £144,674 |
PROPERTY TAXES
Parcel Number
053231
Land Assessment
£116,835
Improvements Assessment
£27,840
Total Assessment
£144,674
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Wawa | 1300 N Memorial Dr
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