Wawa
Retail | 5.35% CAP | 6,374 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a new construction Wawa ground lease located at 8221 Alexandria Pike in Alexandria, Kentucky ("the Property"). The new construction gas station and convenience store has a 20-year Absolute NNN Ground Lease with six (6), 5-year renewal options. The lease calls for a 5% rent increase in years 11 and 16 and at the start of all six of the five-year renewal options.
Strategically positioned along Alexandria Pike (US Route 27), Northern Kentucky's primary commercial artery, the newly constructed Wawa occupies a highly visible corner location adjacent to the signalized intersection with Main Street. The Property benefits from exceptional exposure, multiple access points, and strong daily traffic generated by the surrounding mix of retail, dining, educational, and residential uses. Its location within Alexandria's established commercial corridor provides direct access to a substantial and growing consumer base. In addition, the Property is conveniently connected to KY Routes 9, 10, 536, 547, and 915, offering seamless access throughout Campbell County and the greater Northern Kentucky region. Located approximately 15 miles from Downtown Cincinnati, the Property is well positioned to capitalize on both local and regional traffic patterns.
Investment highlights
NEW CONSTRUCTION GROUND LEASE: This is a new construction Wawa that features a 20-year Absolute NNN ground lease with six (6), 5-year renewal options.
ATTRACTIVE RENT INCREASES: The corporate ground lease features attractive 5.0% rent increases in years 11 and 16 and at the start of each renewal option period, providing the investor with an attractive hedge against inflation.
DYNAMIC TENANT: Wawa convenience stores are one of the most sought-after triple net lease investment properties in the market today due to their strong corporate backing and excellent underlying real estate fundamentals. Wawa operates more than 1,100 locations in the United States and had an estimated 2025 Revenue of $18.6 Billion.
ZERO LANDLORD RESPONSIBILITIES: The Wawa ground lease requires zero landlord responsibilities. The tenant is solely responsible for all service, maintenance, and repairs, making it an attractive investment for the passive real estate investor.
STRATEGIC RETAIL LOCATION: The new construction Wawa is extremely well located along Alexandria Pike (US Route 27), the area's primary commercial and commuter corridor, and is adjacent to the signalized intersection with Main Street. The Property enjoys outstanding frontage, visibility and access and is convenient to the area's national retailers, restaurants, schools, and residential neighborhoods, all of which drive traffic to the immediate area and provide a built-in customer base. The Property offers quick access to KY Routes 9, 10, 536, 547 and 915 providing efficient connectivity throughout northern Kentucky.
CINCINNATI MSA: The Cincinnati Metropolitan Statistical Area (MSA) is one of the Midwest's most dynamic and economically diverse regions, encompassing portions of Ohio, Kentucky, and Indiana and home to more than 2.3 million residents. Recognized as a major business hub, the region boasts a highly diversified economy supported by a strong presence in consumer products, healthcare, advanced manufacturing, logistics, financial services, and technology. Cincinnati is home to numerous Fortune 500 and Fortune 1000 companies, including Procter & Gamble, Kroger, Fifth Third Bank, and Cintas, providing a stable employment base and significant corporate investment.
The region’s strategic location along the I-71, I-74, and I-75 corridors places nearly half of the U.S. population within a day's drive, making it one of the nation’s premier distribution and logistics markets. Cincinnati also benefits from a highly educated workforce, a growing innovation economy, world-class healthcare systems, and a lower cost of living than many peer metropolitan areas. Combined with its strong quality of life, vibrant cultural amenities, professional sports franchises, and ongoing public and private investment, the Cincinnati MSA continues to attract businesses, residents, and developers, supporting long-term economic growth and making it a highly desirable market for commercial real estate investment.
TRAFFIC COUNTS: More than 22,500 vehicles per day pass the Property along Alexandria Pike.
STRONG DEMOGRAPHICS: Over 28,700 people live within 5 miles of the Property with an average household income of $127,308. More than 211,900 people live within 10 miles of the Property with an average household income of $121,204. Additionally, there are more than 54,100 employees within 10 miles of the Property.
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