The property at 200 S Easton Road in Glenside, which is occupied by a Wawa gas station and convenience store, is up for sale again. The asking price is $7,666,500.
The property previously went up for sale on Friday, January 19 for an identical valuation. That listing is “No Longer For Sale” on Crexi.com.
Note that the Wawa isn’t for sale—the property is for sale. The buyer would become Wawa’s landlord.
The Wawa first opened on December 15, 2022. Wawa’s lease of the property expires in 2042.
From the new listing’s Investment Highlights:
DOMINANT MARKET SHARE WITH LIMITED COMPETITION
Wawa is the dominant gas and convenience brand in the Philadelphia MSA. Historically, competition has struggled to gain traction and survive in this area due to the unwavering commitment of the local customer base.
WAWA’S BACKYARD & LARGEST PRIVATE EMPLOYER IN PA
Wawa’s Corporate headquarters is located less than 30 miles away from this site which is less than a 40-minute commute. Recently, Wawa became Pennsylvania’s largest private company from a revenue standpoint.
BARRIERS TO ENTRY
Assembling 1.27 acres along Easton Road in the Glenside submarket to complete a new development is extremely challenging. As a result, there are limited convenience stores with gas options.
DENSE INFILL SUBMARKET THAT WAWA THRIVES IN
Strategically located along the Easton Road with 405,000 people located within 5 miles of this site with the average household income north of $91,000.
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Photo: Crexi.com