1500 Harrisburg PikeMiddletown, PA 17057

Property Details for 1500 Harrisburg Pike

Year built

2024

Lot size

1.30 AC

Property size (Sq ft)

5,585 SF

Property type

Retail properties

Property subtype

Gas stations

Description

This exceptional investment opportunity presents a brand-new, 2024-constructed Wawa gas station, boasting 5,585 square feet on a 1.3-acre lot in Middletown, Pennsylvania (zip code 17057). Located at 1500 W Harrisburg Pike, this single-tenant, absolute NNN ground lease offers a secure, long-term investment with a 20-year lease term and 10% rent bumps every five years. The property benefits from a strong location, situated across from Harrisburg International Airport, Penn State University - Harrisburg (with over 5,000 students), and Amtrak Middletown Station, plus nearby off-campus student housing. Its prime accessibility is further enhanced by its position at the signalized intersection of Route 230 (13,200 vehicles per day) and Meade Avenue, providing easy access to the Pennsylvania Turnpike (28,400 VPD) and Route 283 (53,500 VPD). The property's strong demographics are highlighted by an average household income of $87,000 within a three-mile radius. The asking price is $5,386,138, representing a price per square foot of $964.39 and a 5.05% cap rate, with a current Net Operating Income (NOI) of $272,000 and 100% occupancy. Lease options include six, five-year options. This is a turnkey investment with significant upside potential, ideal for investors seeking a stable, high-performing asset in a thriving market. The property is currently under construction and slated to open in Summer 2024.

Location Insight

City

Middletown

County

Dauphin

State

Pennsylvania

Latitude

40.1987

Longitude

-76.7574

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