Wawa: Indianapolis, IN 3835 E 96th St 5,915 SF Retail Building Indianapolis, IN 46240 $4,500,000 ($760.78/SF) 4.78% Cap Rate

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INVESTMENT HIGHLIGHTS

This location is Wawa’s first store in Indiana. The company has plans to build a total of 10 Indiana stores in 2025.
Roughly 11 miles northeast of downtown Indianapolis, Wawa is positioned at the roundabout intersection of East 96th Street (31,216 VPD).
Wawa is located within the Keystone submarket of Indianapolis—an amenity-rich area known for its high-end retail and modern office spaces.

Wawa’s absolute NNN ground lease will feature a corporate guaranty from Wawa, Inc. and 20 years of primary term.
Wawa is within a 1-mile radius of over a dozen new and used car dealerships and collision centers.

EXECUTIVE SUMMARY

CBRE is pleased to exclusively offer for sale a 20-year absolute NNN Wawa ground lease situated on 1.91 acres within the Keystone Crossing retail submarket of Indianapolis, IN (MSA population: 2.17M+). Currently under construction, the 5,915-square-foot store is expected to open in May 2025, signaling Wawa’s largest expansion starting with ±10 stores in each of Indiana, Ohio and Kentucky this year. The company has plans to open 160 stores in these three states over the next five to eight years. The lease will feature a guaranty from Wawa, Inc. as well as a 7.5% rent increase every 5 years throughout the initial term and in each of the six, 5-year renewal options.