Wawa 194 US Highway 206

Graystone Capital Advisors is pleased to present the exclusive listing for a Brand New Wawa located at 194 US-206 in Flanders, New Jersey. The long-awaited Grand Opening is slated for August 2024. Given there is no Wawa within an 8 Mile Radius, locals from surrounding communities have been eagerly awaiting this store’s opening since development planning began in 2019. Wawa’s commitment to this site is unparalleled as many on and off-site improvements were required during the lengthy six-year development process which included a rear retaining wall and extensive roadwork. Route 206 and Flanders-Nectong Road (“Main Street”) was widened to three lanes in which Wawa sits at the signalized intersection with over 35,000 vehicles passing the site per day.
Wawa sits on an oversized 6.06 Acre Parcel with 430+ feet of frontage along Route 206 and Flanders-Nectong Road (“Main Street”). There are multiple points of ingress and egress to the site promoting enhanced traffic flow. There are ten fueling stations and a 4,736 square foot store.
There is a brand new 20-Year Corporate lease with coveted 10% increases every five years during both the base term and option period. There are six, five year option periods. Aside from a cult following that started in Philadelphia suburbs and now span the entire East Coast, the tenant boasts an investment grade shadow rating of “BBB” by Fitch. In 2023 alone, 70 stores were opened and 75 are planned for 2024. From 2025 on, 100 new stores are planned annually. Wawa also has the largest number of charging agreements of any tenant in the industry to stay ahead of EV trends.
This site also benefits from limited competition along this segment of Route 206 where only small format gas stations can be found or a convenience-only 7-Eleven. The nearest competition (QuickChek) is over 3 Miles away. Additionally, the nearest Wawa locations are 8 miles to the east and west of this site allowing this Wawa to thrive as the dominant C-Store / Gas Station combo in this heavily traveled retail corridor.
Additionally, the immediate area surrounding Wawa benefits from a high day time population given the numerous schools, including Mount Olive High School with 1,495 Students. US-206 is also home to various other essential retailers, medical facilities, and industries like Siemen’s Healthcare Manufacturing Facility with 750 Employees. Residential development is also on the rise in the area with Flanders Crossing consisting of 221 Single-Family Homes and a new construction 55+ an older community with 275 Homes called Regency at Flanders, adjacent to Flanders Valley Golf Course. Flanders is an affluent unincorporated community in Mount Olive Township, in southwestern Morris County. Morris County is apart of the New York City MSA with Flanders only 40 Miles from the city. Morris County Boasts 154 Public Schools Along with 110 Private Schools. In the next 5 years, Flanders is expected to see an annual growth rate of 2%. Currently the average household income is $149,055 with 75,564 Residents in a 5-Mile Radius.