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    580 Us-1 Edison, NJ 08817

    For Sale
    $6,700,000

    High-return Wawa NNN lease in prime NJ location

    Property size:
    4,736 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a fee simple interest in a 4,736 square foot Wawa convenience store and gas station located at 580 US-1, Edison, NJ 08817. The property sits on a 1.99-acre lot and boasts a strong 5.00% cap rate with a Net Operating Income (NOI) of $335,000. The property benefits from a long-term, absolute NNN ground lease with a credit-rated tenant, Wawa, extending until August 31, 2041 (16.8 years remaining). The lease includes attractive 10% rent bumps every five years and six five-year renewal options. This single-tenant, 100% occupied property is situated in a high-traffic area with excellent visibility, benefiting from its location on US-1 (94,800 vehicles per day) and proximity to major interstates I-95 and I-287 (combined 376,900 vehicles per day). The surrounding area demonstrates strong retail performance, with nearby national retailers including Walmart, Sam's Club, and Wendy's achieving top percentile rankings nationally. The property is also conveniently located near Rutgers University, further enhancing its appeal. The affluent 5-mile radius boasts a population exceeding 295,000, over 100,000 households, and an average household income of $130,000. This is a rare opportunity to acquire a passive investment with significant upside potential in a highly desirable location within the New York City Metropolitan Statistical Area. The property was built in 2021 and is a single-story building.

    Property Features for 580 Us-1

    General Information

    Property type
    Automotive properties
    Square Feet
    4,736 SF
    Lot Size
    86,684 SF

    Building Details

    Year Built
    2021
    Buildings
    1
    Stories
    1

    HighLights

    • Prime Edison, NJ location: Wawa at US‑1 & Stony Road, 25 miles southwest of NYC, in the nation's largest MSA.
    • NNN ground lease with Wawa: 17‑year firm term, 10% rent increases every five years.
    • Strong tenant: Wawa, a dominant Northeast convenience store chain with over 1,000 locations, expanding nationally.
    • High‑performing retail neighbors: US‑1 location includes top‑performing Walmart, Sam's Club, and Wendy's (Placer.ai data).
    • High traffic counts: Near I‑95 (206,500 VPD), I‑287 (170,400 VPD), and US‑1 (94,800 VPD).
    • Affluent demographics: 5‑mile radius has over 295,000 residents, 100,000 households, and $130,000 average household income.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Edison
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.393676687496
    Latitude
    40.506786986496

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    FAQs

    What type of property is this?
    Automotive property - High-return Wawa NNN lease in prime NJ location
    Where is this automotive property located?
    The property is located at 580 Us-1 Edison, NJ.
    What is the asking price?
    The asking price for this property is $6,700,000.
    What are key features of this property?
    This property features: Prime Edison, NJ location: Wawa at US-1 & Stony Road, 25 miles southwest of NYC, in the nation's largest MSA.; NNN ground lease with Wawa: 17-year firm term, 10% rent increases every five years.; Strong tenant: Wawa, a dominant Northeast convenience store chain with over 1,000 locations, expanding nationally.
    Request Owner's contact information
    580 Us-1 Edison, NJ 08817
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    Edison, NJ 08817
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    580 Us-1 Edison, NJ 08817
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