Wawa - Tenant Overview


January 25, 2024


Tenant Description

Wawa, a renowned convenience store and gas station chain, has its roots dating back to 1803, with its transformation into a food market beginning in 1964 in Folsom, Pennsylvania. Over the years, Wawa has evolved into a major player in the convenience retail industry, with over 900 stores across the East Coast. This growth reflects Wawa's strong market presence and commitment to expanding its reach.

Central to Wawa's success is its extensive selection of fresh food and beverage options, including its famous coffee and custom-made hoagies. This emphasis on fresh, quality offerings differentiates Wawa from traditional convenience stores and has helped build a loyal customer base. The combination of convenience and quality has been key in Wawa's ability to meet the evolving needs of consumers.

In addition to its product offerings, Wawa is known for its community involvement and customer-focused approach. The company actively participates in local events and charities, fostering a strong connection with the communities it serves. This commitment enhances Wawa’s brand reputation and customer loyalty.

Wawa's ambitious expansion strategy includes opening new stores and entering new markets. Recent plans to significantly increase its store count and geographic reach demonstrate Wawa's dedication to growth and market penetration while maintaining its signature customer experience and community focus.

Financially, Wawa exhibits robust performance and resilience, underpinning its attractiveness as a tenant in the commercial real estate market. The combination of Wawa’s innovative business model, commitment to community, and financial stability makes it a desirable and reliable tenant, offering significant growth and partnership opportunities for real estate investors and landlords.

Average Asking Cap Rate


3 mo avg (103 properties)

Typical Investment/Lease

Average Sale Price




$/Square Foot

$900 - $1,500

Building SF

5,000 - 6,200

Approx. Store Count


Lease Term

20 Years


10% Every 5 Years

Stock Symbol


Credit Quality



Average Asking Cap Rate Trend





Reflect only properties with long-term lease.

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