AI starting opinion
AI gives the value. This worksheet lets you prove it or adjust it. Use the research, choose comps and refine assumptions to support your conversations with a banker, lender, partner or buyer.
Estimated market value as of September 17, 2026. The property is actively offered at $8,520,000 with $426,000 NOI, but its extended marketing period supports a modest discount from asking price. This is an appraisal-style estimate, not a verified sale or formal appraisal.
Starting assumptions and sources
- The reported $426,000 NOI and lease terms are accurate.
- Wawa remains obligated under an absolute NNN ground lease with approximately 17 years remaining.
- No undisclosed environmental, title, financing, or lease issues materially impair value.
- The active asking price is not evidence of a completed arm's-length sale.
Research basis
Exact subject is the Wawa fuel/convenience property on parcel 15-00-01619-02; no unit/parent-address mismatch identified. Lot area uses the public-record legal description of 1.944 acres; the sale listing rounds it to 1.94 acres. Public asking price as of 2026-09-17 is $8,520,000, per Forged Real Estate's LoopNet listing ID 39661154, dated on market 2026-03-04.
Sales starting assumptions and sources
- Comparable Wawa transactions are broadly similar corporate-backed NNN or ground-lease investments.
- A buyer would discount the active asking price approximately 0%-9%.
- The subject's signalized corner and airport/I-95 access offset its lower-income immediate trade area.
Use the details below to prove or adjust this opinion. In Value summary, choose the AI opinion, your worksheet calculation or your own value.
Reconciled starting assumptions: The selected-comp calculation starts at $6,110,249. The editable overall adjustment of 35.019036% was calculated to reproduce the $8,250,000 AI Sales opinion. It is not an independently supported comp adjustment. Original comp prices and selections remain available to review. These assumptions reproduce the AI opinion; they are not independent confirmation of it.
How Sales works: Sales starts with the AI opinion above. Compare the property with similar properties using prices per square foot or per unit, then choose Worksheet calculation in Value summary to use your selected comps. Asking prices are seller expectations, not completed transactions; the price basis is shown below.
Improve your estimate: Click any property address to see what Google finds, then fill in or correct the comp’s price, building size and other details here. Our research focuses on your subject property, so we don’t fully investigate every comparable. Verifying and completing the comps you choose is one of the best ways to make your estimate more accurate.
All comps are selected to start, with equal weights. Change any selection or weight. Grades are guidance and do not change weights. All candidates stay in this table. Use selects a comp for calculations and print; unchecking it keeps the row here. A/B/C filters only change visibility. $/SF and $/unit work independently.
| Use | Address | Status | Price | Building SF | Units | $/SF | $/unit | Sold date | Miles | Grade | Weight |
|---|---|---|---|---|---|---|---|---|---|---|---|
910 MacDade Blvd, Collingdale, PADetailsBroker exclusive-listings page reports a Wawa ground lease offered at $8,103,000, 5.25% cap rate, 5,585 SF, with lease expiration August 31, 2039. Exact tenant, use and 5,585-SF scale in the immediate Delaware County submarket. | activeAsking price | $1,450.85 | $8,103,000 | — | 1.2 | ||||||
690 Crescent Blvd, Brooklawn, NJDetailsSRS reported the sale for $8.82 million at a 4.05% closing cap rate; property was built in 2019 on 1.49 acres. Exact Wawa gas/ground-lease use and closely similar 4,950-SF size in the Philadelphia regional market. | soldClosed sale price | $1,781.82 | $8,820,000 | — | 8.0 | ||||||
Wawa, Oaklyn, NJDetailsJLL offering memorandum identifies a free-standing 5,051-SF Wawa grocery/convenience store with fueling station in Oaklyn; focused search did not verify a closed price or current availability. Exact tenant/use, 5,051-SF building and Philadelphia MSA location; transaction outcome is incomplete. | unknownPrice type unknown | — | — | — | 10.0 | ||||||
2515 Delsea Dr, Franklinville, NJ 08322DetailsEquity CRE announced the June 2024 sale of the 2022 redevelopment. Marketing evidence identifies a 3,905-SF Wawa with five double-sided fueling stations and a long-term absolute NNN ground lease; sale price was not disclosed. Exact use and Philadelphia MSA location; 3,905 SF is somewhat smaller but remains relevant. | soldClosed sale price | — | — | 2024-06 | 21.8 | ||||||
1 N Virginia Ave, Penns Grove, NJ 08069DetailsEquity CRE property inventory labels the newly constructed Wawa as sold. Other marketing described a Wawa/McDonald's condominium offering, but no defensible Wawa-only closed price was found. Exact tenant/use within the Philadelphia regional market; individual building size and allocated price are unavailable. | soldClosed sale price | — | — | — | 16.0 | ||||||
690 E Lincoln Hwy, Exton, PA 19341DetailsFormer marketing identified a 2023-built Wawa on a 20-year absolute NNN ground lease at a signalized US-30 corner; focused search did not establish current status or price. Exact use, 5,585-SF scale and Philadelphia MSA/Chester County location. | unknownPrice type unknown | — | — | — | 20.5 | ||||||
412 S York Rd, Hatboro, PADetailsLocal reporting states Altimari Properties purchased the 2023-built Hatboro Wawa for $7.4 million; the report was published January 31, 2026. Exact tenant/use, recent construction and Montgomery County Philadelphia-suburban location. | soldClosed sale price | — | $7,400,000 | 2026-01 | 20.5 | ||||||
101 Easton Rd, Willow Grove/Horsham Township, PA 19090DetailsCurrent Crexi marketing reports a 5,585-SF, 2018-built Wawa offered at $7,179,000 and a 5.50% cap rate, with an absolute NNN lease and corporate guarantee. Exact tenant/use and 5,585-SF scale in the Philadelphia suburban market. | activeAsking price | $1,285.41 | $7,179,000 | — | 18.7 | ||||||
605 Yorklyn Rd, Hockessin, DE 19707DetailsCrexi marks the former offering closed/no longer for sale but does not verify a sale. The property is a 5,160-SF Wawa on 1.61 acres operating since 2001. Exact tenant, closely similar 5,160-SF size and Philadelphia MSA location; gasoline service is not clearly stated in the source. | unknownPrice type unknown | — | — | — | 24.3 | ||||||
1800 Naamans Rd, Wilmington, DE 19810DetailsCrexi identifies a newly constructed Wawa operating on an NNN ground lease and marks the property no longer for sale; no closed transaction or price was verified. Exact use in the Philadelphia MSA and northern Delaware; size and transaction result remain unavailable. | unknownPrice type unknown | — | — | — | 13.1 | ||||||
22929 Sussex Hwy, Seaford, DEDetailsHorvath & Tremblay reported a $5,494,595 sale. The 2021-built property includes a convenience store and gas station on 1.84 acres with 19 years remaining on an absolute NNN ground lease. Exact use and comparable 5,512-SF size, but farther from Sharon Hill in southern Delaware. | soldClosed sale price | $996.84 | $5,494,595 | 2022-09 | 87.5 | ||||||
320 PA-313, Blooming Glen/Perkasie, PADetailsNet-Trade reports the property sold March 28, 2024 for $6.4 million after a $6.661 million offering, with a 5.20% closing cap rate and 2021 construction. Exact tenant and lease structure in the broader Philadelphia suburban market; building size is unavailable. | soldClosed sale price | — | $6,400,000 | 2024-03-28 | 33.4 | ||||||
Wawa, Perkasie, PA (address not reported)DetailsQuantum Retail Intelligence report lists a Perkasie Wawa sale at $7,241,000, 4.60% cap rate and 5,585 SF. The report does not provide the street address. Exact tenant/use, 5,585-SF size and Philadelphia suburban location; exact address is missing. | soldClosed sale price | $1,296.51 | $7,241,000 | 2021-08-19 | Unresolved | ||||||
1937 York Rd, Jamison, PADetailsCBRE reported a $12.17 million sale of the Wawa/Tractor Supply retail property. The aggregate price should not be treated as a Wawa-only sale price. Contains the exact Wawa use in the Philadelphia suburbs, but the reported price covers a multi-property/multi-tenant transaction. | soldClosed sale price | — | $6,085,000 | — | 25.7 | ||||||
Wawa site, Royersford, PA (exact address not reported)DetailsPhiladelphia Business Journal reported that a Montgomery County Wawa site in Royersford was acquired for $3.5 million; accessible evidence did not provide the exact address or building size. Exact tenant in Montgomery County, but street address, building size and lease details are incomplete. | soldClosed sale price | — | $3,500,000 | 2024-04 | Unresolved | ||||||
801 Hill Ave, Wyomissing, PADetailsMid Atlantic Real Estate Journal reported the stand-alone, long-term leased Wawa sold for $7.37 million and described the investment as an NNN ground lease. Exact tenant and lease structure with a regional Pennsylvania location, but size is unavailable and the site is farther from the subject. | soldClosed sale price | — | $7,370,000 | — | 47.5 | ||||||
10 Stonegate Dr, Allen Township, PADetailsNorthampton County transaction reporting states the 2.7-acre Wawa property sold for $5.9 million, recorded June 11, 2026. Exact tenant in eastern Pennsylvania, but building size and detailed lease structure were not reported. | soldClosed sale price | — | $5,900,000 | 2026-06-11 | Unresolved | ||||||
Wawa property on E Broad St, Bethlehem, PA (street number not reported)DetailsRegional transaction reporting states the Wawa property on East Broad Street in Bethlehem sold for $4 million in 2023. Exact tenant in eastern Pennsylvania, but exact street number, size and lease terms are missing. | soldClosed sale price | — | $4,000,000 | 2023 | Unresolved | ||||||
Wawa ground lease, Coatesville, PA (address not reported)DetailsBroker offering memorandum's sold-comparable section reports a Coatesville Wawa NNN ground lease sold for $5,051,546 at a 4.85% cap rate in April 2019. Exact tenant and ground-lease structure in Chester County, but address and size are unavailable. | soldClosed sale price | — | $5,051,546 | 2019-04 | Unresolved | ||||||
Wawa ground lease, Reading, PA (address not reported)DetailsBroker sold-comparable section reports a Reading Wawa NNN ground lease sold for $3,333,485 at a 5.25% cap rate in February 2019. Exact tenant/lease form in southeastern Pennsylvania, but address and size are unavailable. | soldClosed sale price | — | $3,333,485 | 2019-02 | Unresolved | ||||||
Wawa ground lease, Cain Township, PA (address not reported)DetailsBroker sold-comparable section reports a Cain Township Wawa NNN ground lease sold for $2.3 million at a 5.14% cap rate in September 2017. Exact tenant and lease structure in the broader Philadelphia regional market, but address and size are missing. | soldClosed sale price | — | $2,300,000 | 2017-09 | Unresolved | ||||||
Wawa ground lease, Camp Hill, PA (address not reported)DetailsBroker sold-comparable section reports a Camp Hill Wawa NNN ground lease sold for $4,856,415 at a 5.05% cap rate in April 2019. Exact use and lease form in Pennsylvania, but materially farther from Sharon Hill and missing address/size. | soldClosed sale price | — | $4,856,415 | 2019-04 | Unresolved | ||||||
Wawa ground lease, York, PA (address not reported)DetailsBroker sold-comparable section reports a York Wawa NNN ground lease sold for $4,856,415 at a 5.50% cap rate in July 2018. Exact use and lease form in Pennsylvania, but farther from the subject and missing address/size. | soldClosed sale price | — | $4,856,415 | 2018-07 | Unresolved | ||||||
Wawa, Narberth, PA (exact address not reported)DetailsSEC filing reports the acquisition of the Narberth Wawa for $4.206 million on March 29, 2006. Portfolio description identifies an approximately 4,500-SF store on 0.9 acre. Exact tenant, 4,500-SF scale and very close Main Line/Philadelphia suburban location, though the transaction is older. | soldClosed sale price | $934.67 | $4,206,000 | 2006-03-29 | Unresolved | ||||||
Wawa, Manahawkin, NJ (exact address not reported)DetailsSEC filing reports acquisition for $4.414 million on March 29, 2006. Portfolio description identifies an approximately 4,700-SF single-tenant Wawa on 6.5 acres. Exact tenant and comparable 4,700-SF size, but farther from Sharon Hill and an older transaction. | soldClosed sale price | $939.15 | $4,414,000 | 2006-03-29 | Unresolved | ||||||
14910 Silver Trail Ln, Laurel, MDDetailsHorvath & Tremblay reported the sale for $5.143 million. The 2023-built convenience store/gas station had 19 years remaining on an absolute NNN ground lease. Exact tenant/use and modern construction, but outside the immediate Philadelphia region and size is unavailable. | soldClosed sale price | — | $5,143,000 | 2024-11-01 | 103.4 | ||||||
1512 US Route 202, Wayne, NJDetailsTraded reports a $6,655,052 sale of the newly built Wawa, with eight fueling pumps and a 20-year corporate ground lease. Exact use and comparable 4,736-SF scale, but northern New Jersey is outside the subject's local market. | soldClosed sale price | $1,405.21 | $6,655,052 | 2024-10-28 | 88.7 | ||||||
800 E Edgar Rd, Linden, NJDetailsTraded reports the Wawa ground lease sold for $7.4 million at a 5.07% cap rate on December 17, 2024; property is on a 1.55-acre parcel. Exact use and closely similar 5,585-SF size, but northern New Jersey location is relatively distant. | soldClosed sale price | $1,324.98 | $7,400,000 | 2024-12-17 | 74.2 | ||||||
1921 E Edgar Rd, Linden, NJ 07036DetailsCrexi markets a 2023-built, 5,051-SF Wawa on a 20-year absolute NNN lease. The current asking price is withheld; the marketing text also references 1951 Edgar Road, creating an address discrepancy that requires verification. Exact use and nearly identical 5,051-SF size, but northern New Jersey location is relatively distant. | activeAsking price | — | — | — | 75.0 | ||||||
195 W White Horse Pike, Berlin, NJ 08009DetailsRealmo preserves former offering information showing a $5,333,335 asking price, 5.25% cap rate and 4,131 SF. The page is currently labeled off-market, so present availability is unverified. Exact use, 4,131-SF building and close South Jersey/Philadelphia MSA location. | unknownAsking price | $1,291.05 | $5,333,335 | — | 17.9 | ||||||
Wawa, Dover, DE (exact address not reported)DetailsTD Commercial Group reports a developer Wawa NNN sale-leaseback in Dover closed for $4.5 million at a 5.10% cap rate; exact address and closing date are not supplied. Exact tenant/use in Delaware, but address, size and gasoline details are incomplete. | soldClosed sale price | — | $4,500,000 | — | Unresolved | ||||||
3530 Conowingo Rd, Street, MDDetailsAuction marketing identifies an existing Wawa triple-net ground lease dated March 8, 1999 at a signalized US-1/MD-136 intersection. Focused search did not verify the auction result. Exact tenant and ground-lease form in the Mid-Atlantic region, but building size, gasoline service and auction result are unavailable. | unknownPrice type unknown | — | — | — | 56.4 | ||||||
1150 5th St SW, Charlottesville, VADetailsPublic transaction reporting states the Wawa ground lease at 5th Street Station sold for $9.1 million on May 20, 2026. Retained only as a distant same-tenant benchmark. Exact tenant/use and recent ground-lease sale, but well outside the Philadelphia regional market and size is unavailable. | soldClosed sale price | — | $9,100,000 | 2026-05-20 | 217.4 | ||||||
1095 Route 1, Edison, NJDetailsPublic transaction lead reports a $8.823 million sale of the newly built Edison Wawa. Exact closing date and building size were not established in the focused search. Exact use and a recent New Jersey transaction, but outside the immediate Philadelphia market and building size is unavailable. | soldClosed sale price | — | $8,823,000 | — | 64.3 | ||||||
1437 Montour Blvd, Danville, PA 17821DetailsCrexi markets a 6,049-SF Wawa with sixteen multi-product fuel dispensers and a new 20-year corporate NNN ground lease; statewide search results report a $5,231,429 asking price. Exact tenant/use and comparable 6,049-SF size, but north-central Pennsylvania is outside the local market. | activeAsking price | $864.84 | $5,231,429 | — | 101.3 | ||||||
164 Maynard St, Williamsport, PA 17701DetailsCrexi marks the unpriced 6,049-SF Wawa offering under contract. The listing identifies one unit and single tenancy; the visible record does not clearly confirm gasoline service. Exact tenant and comparable 6,049-SF size, but distant north-central Pennsylvania location and gasoline details are incomplete. | pendingAsking price | — | — | — | 130.4 | ||||||
9009 Bridge Rd, Hummelstown, PA 17036DetailsCrexi offers the new-construction Wawa for $5.8 million at a 5.10% cap rate. Listing reports 5,585 SF, 2.46 acres and a 20-year NNN lease commencing August 1, 2026. Exact tenant/use and closely similar 5,585-SF size, but Harrisburg/Hershey location is outside the local market. | activeAsking price | $1,038.50 | $5,800,000 | — | 81.4 | ||||||
799 Valley Forge Rd, Phoenixville, PA 19460DetailsLoopNet reports a $8,969,072 asking price and 4.85% cap rate for the 2026 prototype, with a 20-year corporately guaranteed NNN ground lease. Exact use, comparable 5,680-SF scale and Chester County/Philadelphia suburban location. | activeAsking price | $1,579.06 | $8,969,072 | — | 19.9 | ||||||
457 Stanton Christiana Rd, Newark, DEDetailsCrexi offers the Royal Farms for $5 million at a 5.50% cap rate. Property has 20 fuel pumps, 5,371 SF and a corporate NNN ground lease. Very similar convenience/gas ground-lease format and 5,371-SF scale in nearby northern Delaware, but a different tenant. | activeAsking price | $930.93 | $5,000,000 | — | 25.2 | ||||||
21779 Tulagi Pl, Lexington Park, MD 20653DetailsCrexi offers the newly constructed Royal Farms for $5.2 million at a 5.00% cap rate, with a 20-year absolute NNN ground lease and corporate guarantee. Highly similar convenience/gas ground-lease format and 4,659-SF size, but different tenant and distant Maryland location. | activeAsking price | $1,116.12 | $5,200,000 | — | 129.6 |
Research basis
The strongest evidence is concentrated in Delaware County and the broader Philadelphia-Camden-Wilmington MSA, including Collingdale, Brooklawn, Oaklyn, Exton, Hatboro/Horsham, Hockessin, northern Delaware and South Jersey. Exact Wawa transactions frequently omit street address, building size or price in public announcements; those leads are retained with null fields rather than inferred. Asking prices are explicitly separated from closed-sale prices. Two Royal Farms listings are included only after the closer Wawa evidence, as same-format convenience-store/gas-station ground-lease benchmarks. Distances remain null because a consistent defensible straight-line geocoding calculation was not available from the focused source set.
Broker exclusive-listings page reports a Wawa ground lease offered at $8,103,000, 5.25% cap rate, 5,585 SF, with lease expiration August 31, 2039.
SRS reported the sale for $8.82 million at a 4.05% closing cap rate; property was built in 2019 on 1.49 acres.
JLL offering memorandum identifies a free-standing 5,051-SF Wawa grocery/convenience store with fueling station in Oaklyn; focused search did not verify a closed price or current availability.
Equity CRE announced the June 2024 sale of the 2022 redevelopment. Marketing evidence identifies a 3,905-SF Wawa with five double-sided fueling stations and a long-term absolute NNN ground lease; sale price was not disclosed.
Equity CRE property inventory labels the newly constructed Wawa as sold. Other marketing described a Wawa/McDonald's condominium offering, but no defensible Wawa-only closed price was found.
Former marketing identified a 2023-built Wawa on a 20-year absolute NNN ground lease at a signalized US-30 corner; focused search did not establish current status or price.
Closed sales
Selected closed sales only. Each calculation uses the available SF or unit count independently.
Asking market check
Active and pending asking prices are shown separately here so you can compare them with closed sales. The comp calculations use all selected priced comps; the AI estimate remains separate.
Income starting assumptions and sources
- Stabilized NOI is $426,000 with negligible landlord expenses.
- Market capitalization rate is approximately 5.0%-5.4%.
- The next 10% rent increase occurs in roughly two years and is enforceable.
- No near-term tenant default or lease rejection is anticipated.
Use the details below to prove or adjust this opinion. In Value summary, choose the AI opinion, your worksheet calculation or your own value.
Reconciled starting assumptions: The AI opinion uses $426,000 annual NOI/base rent and negligible landlord expenses under the absolute NNN ground lease. The reported NOI is consistent with the $8.52M asking price × 5% quoted cap rate; the underlying lease must confirm it. Here that rent is converted to $/SF. The retained worksheet default of 95% occupancy reduces NOI to $404,700. To reproduce $8.2M at that default, the calculation cap rate is explicitly derived at 4.935366%; this is NOT the AI market-cap assumption of 5.0%–5.4%. For the AI leased-income scenario, change occupancy to 100% and cap rate to 5.195122% (approximately 5.2%). Rent, occupancy and cap rate remain editable; no automatic fitting occurs. Annual expenses of $0 were calculated to reproduce $8,200,000. These are editable starting assumptions, not actual operating accounts. These assumptions reproduce the AI opinion; they are not independent confirmation of it.
How Income works: Estimate the annual income left after vacancy and operating expenses, before loan payments and income taxes. This net operating income (NOI), divided by a market capitalization rate (cap rate), gives an income-based value indication.
Commercial lane: rent is handled by rentable square feet per year.
Research basis
Estimated as of September 17, 2026 from modern Wawa NNN ground-lease observations, emphasizing the immediate Delaware County comparable at 910 MacDade Boulevard ($76.17/SF/year) and secondary Philadelphia-region observations in Hatboro ($69.62/SF/year) and Harleysville ($69.11/SF/year). The $74.00 conclusion gives greatest weight to the nearby Collingdale property and recognizes the subject's newer construction, dense infill trade area, signalized corner, and proximity to I-95 and Philadelphia International Airport. The subject's inferred in-place asking rent was excluded from the independent market-rent estimate.
A 0% stabilized vacancy input is estimated for the specialized, corporately guaranteed Wawa absolute-NNN ground-lease interest. This is not based on the subject's occupancy: the current Collingdale Wawa offering has approximately 13 years remaining, and the current Hatboro Wawa offering reports 100% occupancy. No vacant modern Wawa-with-gas ground-lease comparable was identified in the focused local search. This input represents physical vacancy under an existing long-term lease, not tenant-credit or lease-renewal risk.
The subject is marketed as an absolute NNN ground lease with no landlord responsibilities. Comparable Wawa lease documentation assigns taxes, insurance, CAM, maintenance, roof, structure and parking lot to the tenant and reports $0 landlord operating expenses. Expenses are therefore entered at $0, with no reimbursement income, because the tenant pays or handles these costs directly rather than the owner paying and collecting reimbursements. Administrative, legal, accounting, financing and income-tax costs are excluded from property NOI.
Estimated from published NOI capitalization rates for current Wawa investment offerings: 5.00% for the subject, 5.35% for the immediate Collingdale comparable, 5.15% for Hatboro and 5.40% for Robesonia. The 5.25% conclusion is near the center of the local and regional range and gives greatest weight to Delaware County and Philadelphia-region properties with comparable corporate Wawa ground leases. These are published asking NOI cap rates rather than confirmed closed-sale rates; gross yields were not used.
No tax benefit is quantified. The marketed interest is an absolute-NNN ground lease, and land basis is generally nondepreciable; any depreciable basis attributable to owner-owned site improvements or other components requires review of the deed, lease, cost allocation and taxpayer-specific records.
Subject: Wawa Store #8160, 1100 Calcon Hook Road, Sharon Hill, Pennsylvania; 5,026 rentable SF on approximately 1.94 acres, built 2023. The current $8,520,000 asking price and 5.00% published NOI cap rate imply annual NOI/base rent of approximately $426,000, or $84.76/SF/year, assuming the advertised zero-landlord-responsibility lease. Because the source does not separately publish contractual rent, this is reported as inferred subject asking-rent context, not independent market rent. No potential income, NOI or income-approach value is calculated here.
Subject current investment offering and implied asking rent · 1100 Calcon Hook Road, Sharon Hill, PA 19079 · 84.76 USD/SF/year · Current offering publishes an $8,520,000 price, 5.00% NOI cap rate, 5,026 SF, 2023 construction, absolute NNN ground lease, more than 17 years remaining, 10% increases every five years and no landlord responsibilities. Price multiplied by cap rate implies $426,000 annual NOI/rent, or $84.76/SF/year. Subject evidence was kept separate from independent market rent.
Immediate Delaware County Wawa rent comparable · 910 MacDade Boulevard, Collingdale, PA 19023 · 76.17 USD/SF/year · Current Wawa ground-lease offering reports 5,585 SF, $425,425 NOI, $7,951,000 asking price, 5.35% cap rate, zero landlord responsibilities and approximately 13 years remaining. NOI divided by building area equals $76.17/SF/year.
Cost starting assumptions and sources
- The 5,026-square-foot building and fuel improvements are in good condition.
- Physical depreciation is limited due to the 2023 construction date.
- Underlying 1.94-acre commercial corner land contributes approximately $1-$2 million.
- The estimate reflects physical real estate; lease provisions may limit the landlord's present ownership of tenant improvements.
Use the details below to prove or adjust this opinion. In Value summary, choose the AI opinion, your worksheet calculation or your own value.
Reconciled starting assumptions: The AI starting opinion uses approximately $7M–$7.5M of prototype tenant investment. The worksheet uses the $7.25M midpoint for the store, fuel systems, canopy and site improvements, converted to an equivalent rate across 5,026 SF; this is not a building-only construction quote. Land is assumed at $1.5M. The separate saved Cost research has a narrower $440/SF hard-cost scope and remains available in Research basis. Physical replacement cost does not establish the ground landlord’s present interest in tenant-owned improvements; lease ownership and reversion terms need review. The original AI assigns Cost only 10% weight. Total depreciation of 11.724138% was calculated to reproduce $7,900,000 including land. These assumptions reproduce the AI opinion; they do not independently verify it. These assumptions reproduce the AI opinion; they are not independent confirmation of it.
How Cost works: Estimate what it would cost to replace the building today, subtract depreciation for age, condition and obsolescence, then add the land value.
Research basis
As of 2026-09-17, a practical blended hard-cost equivalent is $440 per gross building SF. It reflects the upper end of a current $250-$400/SF convenience-store building range plus an allowance within the blended rate for integral fuel-canopy and forecourt systems. It is also consistent with recent Wawa permit observations near $1.56 million to $2.20 million per project. Excludes land, soft costs, contingency and entrepreneurial profit; permit valuations may omit owner-furnished equipment or portions of sitework.
The operating Class A/4-star store opened in June 2023 and was approximately 3.3 years old as of 2026-09-17. An effective-age/total-life indication near 3.3 years divided by approximately 40-45 years supports roughly 7%-8% depreciation, rounded to 8%. No renovations are indicated or needed, and no material functional obsolescence is evident for the current Wawa prototype. Historical environmental remediation activity in the 1100-1200 Calcon Hook Road area is noted, but available records indicate reports intended to document attainment of applicable remediation standards; no separate external-obsolescence deduction is supportable from the available evidence.
Estimated market land value for the 84,681-SF signalized corner site. Three nearby larger commercial/industrial land observations cluster near $14.88-$15.16/SF, while a much smaller MacDade Boulevard commercial pad listing is substantially higher. Applying a modest retail-corner premium produces approximately $16.53/SF, or $1.40 million. The subject's $154,980 land assessment is retained only as assessment context and was not treated as market value.
2026 convenience-store building cost benchmark—low end · 250 USD/gross building SF · Current 2026 benchmark reports $250-$400/SF for convenience-store building construction and distinguishes building costs from total fueling-site development economics.
2026 convenience-store building cost benchmark—high end · 400 USD/gross building SF · Upper end is relevant to a high-spec prepared-food Wawa with substantial refrigeration, kitchen, electrical and mechanical requirements.
Recent Wawa permit-cost observation · 7142 Commonwealth Avenue, Jacksonville, FL · 1,560,000 USD project permit valuation · February 2025 report states permit applications covering the building, gas canopy, retail fuel system and dumpster enclosure totaled almost $1.56 million. Gross building area was not stated in the available report, so no unsupported per-SF conversion was made.
Recent Wawa permit observation reported per location · 2,200,000 USD per Wawa location · The source reports an estimated cost of $2.2 million for each Wawa location based on permits. Exact store size and full scope were not exposed, so the observation is used as project-level support only.
Highly local ground-up Wawa construction example · Ridley Park, PA · 4,500 gross building SF · Delaware County-area contractor documents a 4,500-SF ground-up Wawa completed in six months. No project cost is published, but the project closely supports local prototype, size and construction applicability.
Value summary
These editable worksheet assumptions start at the AI approach opinions. Changing inputs changes the calculated values below. Original AI opinions remain visible; select one again at any time. Your final conclusion is yours.
AI suggested weights: 35% Sales · 55% Income · 10% Cost. Income receives the greatest weight because buyers price this asset primarily as a long-term Wawa income stream. Sales receives substantial secondary weight. Cost receives limited weight because specialized fuel improvements and ground-lease ownership provisions weaken its direct relationship to investment value.