1300 Memorial DrGreenville, NC 27834

Property Details for 1300 Memorial Dr

Year built

1990

Lot size

1.44 AC

Property size (Sq ft)

2,453 SF

Zone code

CH

Property type

Retail properties

Property subtype

Drive through restaurants

APN

53231

APU

53231

Description

This exceptional investment opportunity presents a 5,915 square foot Wawa convenience store and gas station located at 1300 N Memorial Dr, Greenville, NC 27834. Boasting a 20-year absolute NNN ground lease commencing December 12, 2024, and expiring December 31, 2044, this property offers significant long-term stability and predictable cash flow. The property sits on a 3.03-acre lot and benefits from a corporate guarantee from Wawa, Inc. The current Net Operating Income (NOI) is $190,000, yielding a 5.00% cap rate on the $3,800,000 asking price. Rent bumps are included in the lease agreement. The property enjoys a prime location just five miles from East Carolina University (over 32,000 students and faculty), near ECU Health Medical Center (900+ beds), and within Greenville's thriving retail hub, including major retailers like Walmart, Target, and Best Buy. This strategic location ensures consistent high traffic volume from students, faculty, healthcare professionals, patients, and the broader community. The property is also situated in a growing residential area, further enhancing its appeal and long-term prospects. This is an ideal, low-management investment opportunity suitable for a 1031 exchange.

Location Insight

City

Greenville

County

Pitt

State

North Carolina

Latitude

35.6331

Longitude

-77.3777

CBSA code

24780

CBSA name

GREENVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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