Wawa- Absolute NNN 20 year Ground lease | 10040 Encounter Dr
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Wawa- Absolute NNN 20 year Ground lease 10040 Encounter Dr
6,119 SF Retail Building Fairhope, AL 36532 $4,056,603 ($663/SF) 5.30% Cap Rate
Investment Highlights
- Brand-New 20 Year Lease – Strong Commitment to Site with (6) 5 Year Options
- Lease is Guaranteed by Wawa, Inc., an Investment Grade (Fitch: BBB), Nationally Recognized Brand With over 900+ Locations
- Zero Landlord Responsibilities
- Located on the Hard Corner of the Increasingly Busy Intersection of Highway 181 and Highway 104 – Highway 181 was recently expanded to 4-lane to accom
Executive Summary
Herrington Realty is pleased to present an outstanding new construction opportunity—an Absolute NNN, 20 Year Wawa Ground Lease—located at one of the more highly desirable intersections in Baldwin County. This property boasts an exceptional position on the northeast corner of State Highway 181 and State Highway 104, directly across from the recently established Publix Supermarket and the new USA Medical Campus. It is also conveniently adjacent to a new 250-unit multifamily subdivision. Benefiting from the remarkable development in the surrounding area and the city's recognition of this intersection as a prominent retail corridor, this property distinguishes itself as
the most sought-after corner in all of Baldwin County.
the most sought-after corner in all of Baldwin County.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
6,119 SF
Building Class
C
Year Built
2025
Construction Status
Under Construction
Price
$4,056,603
Price Per SF
$663
Cap Rate
5.30%
NOI
$215,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
2.72 AC
PROPERTY TAXES
| Parcel Number | 46-01-02-0-000-001.510 | Improvements Assessment | $31,160 |
| Land Assessment | $609,540 | Total Assessment | $640,700 |
PROPERTY TAXES
Parcel Number
46-01-02-0-000-001.510
Land Assessment
$609,540
Improvements Assessment
$31,160
Total Assessment
$640,700
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Wawa- Absolute NNN 20 year Ground lease | 10040 Encounter Dr
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