Chesterfield Retail for Sale - Outlying Chesterfield
Corporate Ground Lease with Increases- The Tenant, Wawa Inc., is subject to a 20-year NNN ground lease that commenced in November of 2018 and has 12 years remaining. The lease features 10 percent (10%) rental increases every five years during the base term and in each of the six;; five-year options, providing revenue growth and a hedge against inflation. Wawa operates 24- hours per day, seven-days per week in a 5,915 square-foot store upon a large 3.46-acre site with eight multi-product dispensers (MPDs). The tenant boasts an investment- grade shadow rating of “BBB+” by the S&P.
Low Rent Rate for Large Parcel- The Subject Site presents a rare opportunity to purchase a modern Wawa prototype station in a growing, affluent Richmond suburb with a rental rate under $200,000/year. Today, ground rental rates for new Wawa stores average near $300,000/year in Virginia. This large 3.4 acre site is much larger than many Wawa sites, and is leased at a rate that is 30-40% less than the average rent rate Wawa pays in its Virginia stores.
Top 15% of Chain Store! - Wawa is one of two major convenience stores supporting this immediate area. The other, 7-Eleven across the street, reports 215K visits annually, while the subject property boasts 1.3M visits annually, ranking in the top 15% of the chain nationally (and in the sState) and demonstrating the vast difference in customer preference and strength of this location for Wawa compared to the competing 7-Eleven. The subject site was developed in 2018 with the neighboring Aldi and Dunn Tire and Auto. Wawa has the prime corner pad at the intersection of Hull Street Rd (23,000 VPD) and Otterdale Rd (10,000 VPD). Across the intersection sits both Cosby Village and Cosby Village Square, which were constructed in 2018 and 2025, respectively. Publix anchors Cosby Village and includes names such as Great Clips, AutoZone, 7-Eleven, Aveda, The Sand Dollar, and additional local tenants. Cosby Village Square consists of national names including Chipotle, Starbucks, Panera, Mezeh, Heartland Dental, The Learning Experience, and Panda Express.
Within 3 Miles of 13 Many Residential Developments- The Property is in the growing Chesterfield suburb of Richmond. Within five miles of the property there is a population of 92,253 people with an average household income of $127,479. Within three miles of the property there are 14 new and existing residential developments totaling 15,443 units that consist of single-family homes, townhomes, apartment units, assisted living units, and lots to be developed. Serving this large area, there are two schools within one mile of Wawa, Cosby High School and Millwood School, that have a total enrollment of 2,760 students. This positioning, supported by strong demographic fundamentals and consistent daytime traffic along Hull Street, provides sustained consumer demand and visibility that support long-term tenant performance.
Best-In-Class Retailer – Wawa, Inc. is a best-in-class tenant within the highly sought-after convenience sector and a tier- one retailer that is both online and recession resistant. Wawa operates over 1,000 locations in the Mid-Atlantic and Florida and reported more than $18.8 billion in Gross Annual Sales Revenue. Wawa is currently #2 on CSP Magazine’s “Fuels 50” list, which ranks convenience store brands by market efficiency, as well as Food & Wine Magazine’s America’s Best Convenience Stores, 2nd only to Texas-based Buc-ee’s on both. In 2025, Forbes Magazine, ranked the company number 21 on its list of America’s Largest Private Companies. The company maintains a shadow credit rating from Fitch, which is investment grade.
