The Opportunity

Summary

  • ADDRESS: 1100 Calcon Hook Rd Sharon Hill, PA
  • ASKING PRICE: $8,520,000
  • CAP RATE: 5.00%
  • NOI: $426,000
  • LEASE TYPE: NNN Ground Lease
  • TENANT: Wawa, Inc.
  • BUILDING SIZE: 5,026 SF
  • PARCEL SIZE: 1.94 Acres
  • YEAR BUILT: 2023
  • REMAINING LEASE TERM: 17+ Years
  • OPTIONS: Six (6). Five (5) Year Options
  • RENT INCREASES: 10% Every 5 Years

Forged Real Estate exclusively offers the fee simple interest in a single-tenant Wawa property in Sharon Hill, approximately five miles southwest of Philadelphia. The asset is located within the Philadelphia MSA—the 9th largest metropolitan area in the United States—with a population of approximately 6.33 million residents. Situated in Delaware County, home to Wawa’s headquarters, the property is secured by a long-term absolute NNN ground lease with more than 17 years remaining. The lease structure provides passive ownership with no landlord responsibilities and features 10% rent increases every five years, including during option periods, with the next increase in two years.

The Wawa occupies the signalized southwest corner of Calcon Hook Road and Hook Road, capturing 39,500 vehicles per day, with dual curb cuts for efficient ingress and egress. The property serves a dense, built-out trade area of approximately 470,000 residents within five miles (151,000 within three miles), supporting strong daily-needs traffic and consistent fuel and convenience sales.

Positioned less than two miles from Interstate 95 (156,000+ VPD) and Philadelphia International Airport (31 million annual travelers annually), the site benefits from exceptional regional connectivity and steady airport-driven demand. Wawa operates more than 1,100 locations nationwide, is Pennsylvania’s largest private company, and holds a BBB credit rating from Fitch, offering investors strong credit quality and long-term stability.

Investment Highlights

ABSOLUTE NNN GROUND LEASE WITH 10% RENTAL INCREASES & 5.50% STEP-UP YIELD – Wawa operates on a long-term absolute NNN ground lease with over seventeen years of term remaining. The triple-net lease structure offers investors a truly passive ownership structure with zero landlord responsibilities. The lease includes attractive 10% rent increases every five years, including throughout the option periods, with the next increase coming in two years, providing long-term income growth. The offering also features a compelling 5.50% step-up yield, further enhancing returns and creating meaningful upside as income grows over time.

STRATEGIC HOME-MARKET LOCATION – DELAWARE COUNTY, PA – This Wawa is located in Delaware County, the same county where the company is headquartered, reinforcing the strategic importance of the site within Wawa’s core operating footprint. Assets situated in a tenant’s home market typically benefit from stronger brand presence, heightened operational oversight, and long-term commitment, which can translate into enhanced store performance and reduced relocation risk.

PRIME, HIGH‑EXPOSURE CORNER LOCATION – The Wawa sits on the southwest corner of the signalized intersection at Calcon Hook Road and Hook Road, capturing strong combined traffic of 39,500 vehicles per day (VPD). The signalized corner boosts visibility, traffic capture, and ease of access, while dual curb cuts on both roads ensure efficient ingress/egress and smooth circulation.

DOMINANT INVESTMENT CREDIT TENANT (FITCH: BBB) – Wawa is one of the dominant gas station and convenience store tenants in the northeast and is quickly gaining more traction throughout the country. With over 1,100 locations and growing, Wawa is the largest private company in Pennsylvania and 21st largest in the nation according to Forbes (2025) with an investment grade credit rating of BBB (Fitch).
LESS THAN 2 MILES FROM INTERSTATE 95 (156,000+ VPD) - Located less than two miles from Exit 12/12B on Interstate 95, one of the most heavily traveled highways on the East Coast, this Wawa benefits from exposure to over 156,000 vehicles per day. Its position near a major regional artery that connects the Northeast to the Southeast, from Maine to Miami, drives exceptionally strong traffic flow to the site.

LESS THAN 2 MILES FROM PHILADELPHIA INTERNATIONAL AIRPORT (PHL) – Located less than two miles from Philadelphia International Airport, which saw approximately 31 million travelers in each of the last two years, this Wawa with fuel benefits from a constant flow of airport driven traffic, including travelers, employees, rental car users, and rideshare drivers, creating strong, repeat demand for both convenience retail and fuel sales.

PHILADELPHIA MSA - The property is strategically positioned just 5 miles southwest of Center City Philadelphia, placing it firmly within the Philadelphia MSA, the 9th largest metropolitan area in the United States, with a population of approximately 6.33 million residents. Wawa’s proximity to a dense urban core drives high traffic volumes, stable consumer demand, and resilient retail performance.

Location Map

Brokerage Team

Steve Schrenk

Steve Schrenk

Principal
Forged Real Estate
(610) 608-2621, ext. 2
James Yi

James Yi

Director
Forged Real Estate
(215) 460-2603
Marc Mandel

Marc Mandel

Managing Principal
Forged Real Estate
(610) 608-2621, ext. 1
Marco DiPrinzio

Marco DiPrinzio

Partner
Forged Real Estate
(610) 608-2621, ext. 5
Maxwell Leonard

Maxwell Leonard

Director
(610) 608-2621, ext. 8
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