1007 Baltimore St, Hanover, PA 17331-4402

Property Details for 1007 Baltimore St

Lot size

1.05 lot acres

Zone code

S/C

Property type

Commercial real estate

APN

44-000-CD-0061.T0-00000

APU

44000CD0061T000000

Description

This exceptional investment opportunity presents the chance to acquire a fee simple interest in a brand-new, single-tenant Wawa convenience store and gas station located at 1007 Baltimore St, Hanover, PA 17331. The property boasts a 5,585 square foot building on a 2.07-acre lot, constructed in 2024. This is an absolute NNN ground lease with a credit-rated corporate guarantor, offering a passive investment with minimal landlord responsibilities. The lease term extends to November 30, 2044, providing a substantial 20-year remaining lease term with 10% rental increases every five years. The property enjoys a 100% occupancy rate, generating a Net Operating Income (NOI) of $295,000 and a 5.25% cap rate. The asking price is $5,619,000, translating to $1,006.09 per square foot. The Wawa is strategically situated at a signalized intersection with high daily traffic volume. The surrounding area exhibits consistent population and household growth, further bolstered by recent residential developments like the High Pointe Estates, adding to the property's long-term value and potential. Nearby retail establishments demonstrate strong performance, indicating a robust and thriving retail corridor. This is a rare opportunity to acquire a high-performing asset with a blue-chip tenant in a rapidly growing market.

Location Insight

City

Hanover

County

York

State

Pennsylvania

Longitude

-76.9634

Latitude

39.7805

CBSA code

49620

CBSA name

YORK-HANOVER, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments