Wawa Absolute NNN
1172 Garrisonville Road, Stafford, VA 22556
For Sale
$3,846,000
Leased-fee ownership with an absolute NNN structure and long-term occupancy by Wawa, Inc.
Property Size5,995 SF
Price / SF$641.53
Days on Market47
Property Features for 1172 Garrisonville Road
General Information
Standard status
Size
Property subtype
Zoning
Net Operating Income
Building Details
Building Size
Year Built
Tenancy
Abandoned
Listing Agency:
SRS Real Estate Partners | Salt Lake City
Listed By:
Gary Chou
(714) 928-8016
Source:
Srsre
Added: Sep 22
Changed: Nov 4
Last Checked: Nov 6 at 5:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners | Salt Lake City
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Investment Insights
Based on property information with market context.
This 2022-built property contains 5,995 square feet and is occupied by Wawa, Inc. under an absolute NNN lease. The offering conveys the leased-fee interest, representing ownership of the underlying land, with no landlord responsibilities identified in the lease structure. The asset is zoned Urban Commercial and is located at 1172 Garrisonville Road in Stafford, Virginia.
The lease has more than 16 years remaining from its original 20-year term, followed by six five-year extension options. Contractual rent increases are set at 10% every five years beginning in lease year 11 and at the start of each option period. The property combines an established convenience and fuel retailer with a defined long-term lease framework and future escalation provisions.
The lease has more than 16 years remaining from its original 20-year term, followed by six five-year extension options. Contractual rent increases are set at 10% every five years beginning in lease year 11 and at the start of each option period. The property combines an established convenience and fuel retailer with a defined long-term lease framework and future escalation provisions.
Key Highlights
- Wawa, Inc. occupies the property under an absolute NNN lease
- 5,995‑square‑foot building completed in 2022
- More than 16 years remain on the original 20‑year lease term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$233,086
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,661,720
$4.7M
Cap Rate 7%
$3,329,800
$3.3M
Cap Rate 9%
$2,589,844
$2.6M
Market Conditions
NOI Build-Up for 5,995 SF
Gross rent
$323.7K $54.00/SF
− Vacancy
−$12.9K −$2.16/SF
EGI
$310.8K $51.84/SF
− OpEx
−$77.7K −$12.96/SF
NOI
$233.1K $38.88/SF
Area
Stafford County, VA
Vacancy
4.00%
Lease Rate
$54.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,661,720
Cap Rate 7%
$3,329,800
Cap Rate 9%
$2,589,844
Alternative Uses
Best Use
Specialty Retail
$3.33M
$2.91M – $3.88M
NOI $233,086 @ 7.0% cap · market cap 6.06%
Second Best
Retail
$2.86M
$2.51M – $3.34M
NOI $200,543 @ 7.0% cap · market cap 5.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 50%
Groceries 45%
Dining 5%
Goodwill
Apparel
5,606 visits/mo
0.3 miles
Virginia ABC
Groceries
5,027 visits/mo
0.3 miles
Papa John's Pizza
Dining
568 visits/mo
0.5 miles
Demographics for 22556, VA
29,688
Population
9,976
Households
3
Avg Household Size
36
Median Age
37%
College-Educated
88%
High-School Grad
46.4 sq mi
ZIP Area
640
Density / Sq Mi
$127,713
Median Household Income
$50,894
Median Earnings
$1,765
Median Rent
$453,700
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
NNN property - Leased-fee ownership with an absolute NNN structure and long-term occupancy by Wawa, Inc.
Where is this nnn property located?
The property is located at 1172 Garrisonville Road Stafford, VA.
What is the asking price?
The asking price for this property is $3,846,000.
What are key features of this property?
This property features: Wawa, Inc. occupies the property under an absolute NNN lease; 5,995‑square‑foot building completed in 2022; More than 16 years remain on the original 20‑year lease term
