New Wawa Ground Lease
For Sale
Contact for pricing
Pending
9009 Bridge Rd, Hummelstown, PA 17036
New Wawa in Hummelstown, PA, opening August 2026.
Property Size5,585 SF
Days on Market187
Property Features for 9009 Bridge Rd
General Information
Standard status
Pending
Size
5,585 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$295,000
Building Details
Year Built
2026
Tenancy
Single
Listing Agency:
Forged Real Estate
(610) 608-2621
Listed By:
James Yi · License #PA RS345286
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 10 at 3:21PM
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 Forged Real Estate
Investment Insights
Based on property information with market context.
This single-tenant property in Hummelstown, Pennsylvania, is leased to Wawa. The brand-new Wawa is scheduled to open in August 2026 and will operate under a 20-year absolute NNN ground lease. The lease features 10% rent escalations every five years, including throughout the option periods. The property has visibility and access along US Highway 322, a major east–west corridor with traffic counts of approximately 50,100 vehicles per day. Regional connectivity is enhanced by proximity to I-83 (142,200 VPD), I-283 (59,200 VPD), and I-76 (34,600 VPD), all within five miles. The site is located less than five miles from Hersheypark®, which generates approximately 3.4 million annual visits. Wawa has over 1,100 locations and maintains an investment-grade credit rating of BBB (Fitch). The property size is 5585 square feet.
Key Highlights
- Brand‑new Wawa with a 20‑year absolute NNN ground lease, offering truly passive income.
- Strategic location along US Highway 322 with high traffic counts (50,100 VPD).
- Built‑in income growth with 10% rent escalations every five years, including option periods.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$373,290
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,465,800
$7.5M
Cap Rate 7%
$5,332,714
$5.3M
Cap Rate 9%
$4,147,667
$4.1M
Market Conditions
NOI Build-Up for 5,585 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$564.3K $101.04/SF
− Vacancy
−$31.0K −$5.56/SF
EGI
$533.3K $95.48/SF
− OpEx
−$160.0K −$28.64/SF
NOI
$373.3K $66.84/SF
Area
Dauphin County, PA
Vacancy
5.50%
Lease Rate
$101.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,465,800
Cap Rate 7%
$5,332,714
Cap Rate 9%
$4,147,667
Alternative Uses
Best Use
Specialty Retail
$10.29M
$9.00M – $12.00M
NOI $720,046 @ 7.0% cap · market cap 12.41%
Second Best
Industrial
$5.33M
$4.67M – $6.22M
NOI $373,290 @ 7.0% cap · market cap 6.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 17036, PA
24,146
Population
9,812
Households
2.5
Avg Household Size
41
Median Age
60%
College-Educated
97%
High-School Grad
28.1 sq mi
ZIP Area
859
Density / Sq Mi
$105,043
Median Household Income
$60,004
Median Earnings
$1,362
Median Rent
$316,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - New Wawa in Hummelstown, PA, opening August 2026.
Where is this gas station located?
The property is located at 9009 Bridge Rd Hummelstown, PA.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Brand‑new Wawa with a 20‑year absolute NNN ground lease, offering truly passive income.; Strategic location along US Highway 322 with high traffic counts (50,100 VPD).; Built‑in income growth with 10% rent escalations every five years, including option periods.
