77 Us-206 Stanhope, NJ 07874
- Retail properties
- 5,585 SF
- 2.60 lot acres
Current Use by Public Records
- Retail properties
Property Details for 77 Us-206
- Year built
- 2024
- Lot size
- 2.60 lot acres
- Property size
- 5,585 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a brand-new, 5,585-square-foot Wawa convenience store situated on a highly visible 2.6-acre corner lot in Byram, New Jersey. The property boasts a 20-year NNN ground lease with a corporate guarantee from Wawa, Inc., a credit-worthy tenant with a Fitch shadow rating of "BBB+". The lease commenced in November 2024 and includes 10% rent bumps every five years, ensuring consistent income growth. Located at the signalized intersection of Route 206 and Lackawanna Drive, this strategically positioned property benefits from high daily traffic volume (28,053 vehicles per day) and proximity to a high-performing ShopRite center with over 2 million annual customer visits. The location is also advantageous due to its adjacency to a CVS pharmacy and Chase Bank, and its proximity to two area schools. Limited competition in the immediate area further enhances the property's investment potential. The affluent Sussex County submarket, with an average household income exceeding $113,000 within a three-mile radius, provides a strong and stable customer base. This property offers a compelling combination of a strong tenant, a prime location, and a long-term lease, making it an ideal addition to any investment portfolio. The property's NOI is $272,500, resulting in a 5.00% cap rate and an asking price of $5,450,000. The lease includes six five-year renewal options.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Stanhope
- County
- Sussex
- State
- New Jersey
- Longitude
- -74.7197
- Latitude
- 40.9325
