Wawa (GL)

7707 24th Court East, Sarasota, FL 34243

$5,113,636

Cap Rate 4.30%

Views: 21 DOM: 23 Updated: 04.23.24 Posted: 04.23.24 Status: Active

Summary

Price $5,113,636	Built/Renov 2024	Tenant Wawa (GL)
Cap Rate 4.30%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 6,119	Lease Start 06-01-2024	#Units 1,032
Price/SF $835.70	Expiration 05-31-2044	Tenant Type Convenience/Gas
NOI $220,000	R. Term 20.0	Ownership Ground Lease
Rent/SF $35.95	Increases 7.0%/5/yrs	Pop 5Mi 173,421
Lot/AC 2.05	Options 6/5yrs/7%	AHHI 5Mi $85,946

Lease Highlights

Brand new 2024 construction
Wawa recently executed a brand new 20-year ground lease with 6 (5-year) options to extend
The lease features 7% rental escalations throughout hate initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Wawa is strategically located at the signalized, hard corner intersection of Tallevast Road and US-301, with access to a substantial combined daily traffic count of 49,000 vehicles. The property features a branded convenience store with 12 fuel stations and a Tesla supercharger station. Its surroundings include well-known national retailers such as Publix, Culver’s, Walmart, Walgreens, and...

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Key Features

New construction
Signalized intersection
Near major nationals
Trophy location
Top 100 MSA
Strong demographics
Income tax free state
Long 20+ yr lease
Accelerated depreciation
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Sarasota, Florida Zip Code 34243 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wawa
Guarantor:Corporate
Company:Wawa, Inc.
# Units:1,032
Stock:Private

About Tenant

Wawa, Inc. is an American chain of convenience stores and gas stations located along the East Coast of the United States, operating in Pennsylvania, New Jersey, Delaware, Maryland, Virginia,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	1,938	57,181	173,526
2023 Total Population :	1,972	58,399	174,451
2023 Employed Civilian Pop :	947	26,260	74,922
2023 Total Businesses :	327	3,602	10,636
2023 Average Household Income :	$ 97,879	$ 85,210	$ 85,832
2023 Total Consumer Spending :	$ 79 M	$ 1817 M	$ 5828 M
2023 Median Age :	48	46	50
2023 Total Households :	939	24,607	77,999
2023 Pop Age 25+: Bachelor's Degree :	356	7,865	25,534
2023 Average Home Value :	$ 325,970	$ 337,241	$ 360,325

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Tallevast Road	Alumni Trl	2022	10,000	0.53 mi
	24th Ct E	2022	39,000	0.55 mi
West University Parkway	W University Pkw	2022	14,200	0.88 mi
Tallevast Rd	Clyde Jones Rd	2018	10,500	0.94 mi
United States Highway 301	Whitfield Ave	2005	36,500	1.05 mi
University Parkway	Desoto Rd	2022	25,500	1.06 mi
Washington Boulevard	57th St	2022	40,500	1.13 mi
Whitfield Avenue	Hwy 301	2022	7,200	1.18 mi
Tuttle Avenue	Tallevast Rd	2022	4,400	1.28 mi
Tallevast Road	Pennsylvania Ave	2022	9,800	1.30 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

149 Listings
7399 Views
42 Sold

Jereme Snyder

Colliers NNN Group

Contact

138 Listings
6821 Views
40 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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