Brand New Construction Single Tenant Wawa (BBB: Fitch)
Dallas, PA (Scranton Wilkes-Barre MSA)
The Opportunity
Summary
- Price: $5,899,000
- Cap Rate: 5.35%
- NOI: $315,592
- Lease Type: NNN Ground Lease
- Building Size: 6,049 SF
- Parcel Size: 5.90 Acres
- Year Built: 2025
- Remaining Lease Term: 20 Years
- Options: Six (6), Five (5) Year Options
- Rental Increases: 10% Every Five (5) Years
OPENING DECEMBER 18th, 2025!
Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Wawa, (the “Property”) in Dallas, Pennsylvania, a town in Luzerne County just 10 miles northwest of Wilkes-Barre. Scheduled to open on December 18, 2025, this newly constructed Wawa will operate under an absolute NNN ground lease, offering investors a truly passive, management-free investment. The lease features attractive 10% rent escalations every five years, including during the option periods, ensuring long-term income growth. Strategically positioned at the high-visibility, signalized intersection of Tunkhannock Highway (PA-309) and Upper Demunds Road, the property benefits from excellent exposure and steady vehicular traffic. It lies within the Scranton–Wilkes-Barre MSA that is home to approximately 569,000 residents, providing a stable consumer base and supporting sustained retail demand in the region. The site captures steady demand from affluent residents as well as strong daily commuter traffic traveling to major employment hubs like Wilkes-Barre and Scranton. Ideally situated in the upscale community of Dallas, the average household income within 2 miles is $125,000. Additionally, located less than one mile from the property is Misericordia University, which enrolls over 2,300 students, faculty, and staff, helping establish consistent foot traffic and a reliable customer base.Wawa is a premier convenience and fuel brand with a rapidly expanding national footprint. With over 1,100 locations and growing, Wawa is the largest private company in Pennsylvania and 22nd largest in the nation according to Forbes (2024) with an investment grade credit rating of BBB (Fitch). Wawa’s commitment to 24/7 operations ensures continuous customer access and revenue generation around the clock. This nonstop business model capitalizes on early morning commuters, late-night travelers, and shift workers maximizing sales volume and supporting strong, consistent tenant performance.
Investment Highlights:
Tenant
Wawa
Ownership: PRIVATE
Credit Rating: BBB (Fitch Shadow)
Headquarters: WAWA, PA
#of Locations: 1,100+
Wawa was founded in 1803 by Grahame Wood mainly as a dairy farm and it was not until 1964 that the company opened its convenience store/gas station chain and headquartered in Wawa, Pennsylvania. Wawa is a privately held company and in April of 2023 opened their 1,000th location as the company continues to expand. It is the largest private company in Pennsylvania and 22nd largest in the nation according to Forbes (2024). The company’s namesake is a Native American word for the Canada Goose in flight, which is seen in the company’s logo. A leader in the convenience store industry, Wawa is an everyday stop for fresh, built-to-order food, beverages, coffee, and fuel. They put an emphasis on the convenience aspect by providing self-serve coffee stations as well as touch screen food and beverage ordering. Most locations are open 24 hours a day, 365 days a year. Wawa is aggressively expanding its footprint with a goal of reaching 1,800 locations by 2030. Already operating in 12 states, the brand recently entered Indiana and Kentucky, with plans to launch in Tennessee by 2025. In its most recent fiscal year (2024), Wawa reported approximately $18.8 billion in revenue surpassing Pennsylvania based competitor Sheetz. Wawa’s strong brand loyalty and customer engagement have earned national recognition, ranking 12th on Forbes’ Halo 100 list, which honors brands delivering exceptional customer experiences. Additionally, Wawa placed 16th on Forbes’ 2024 Customer Experience All-Stars list, highlighting its consistent excellence in product quality, service, and overall customer satisfaction.
