Wawa (GL)

611 Dal Hall Blvd, Lake Placid, FL 33852

$6,422,000

Cap Rate 4.50%

Views: 103 DOM: 313 Updated: 07.09.24 Posted: 11.08.23 Status: Active

Summary

Price $6,422,000	Built/Renov 2021	Tenant Wawa (GL)
Cap Rate 4.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,636	Lease Start 08-01-2020	#Units 950
Price/SF $1,139.46	Expiration 08-01-2040	Tenant Type Convenience/Gas
NOI $289,000	R. Term 15.10	Ownership Ground Lease
Rent/SF $51.28	Increases 8.0%/8/yrs	Pop 5Mi 18,653
Lot/AC 2.57	Options 6/5yrs/8%	AHHI 5Mi $65,452

Lease Highlights

Wawa has 16+ years remaining on the original 20-year ground lease with 6 (5-year) options to extend
The lease features 8% rental increases every 5 years starting in lease year 11 and at the beginning of each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Wawa is strategically located on Dal Hall Blvd, with access to 29,300 vehicles. The property is an outparcel to South Highlands Shopping Center, a modern Publix anchored center with nearby national/credit tenants such as Burger King, Subway, Dollar General, Domino’s, Tractor Supply Co. & more. Notably, this property and the Sebring site are the first Wawas in Highlands County. Additionally,...

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Key Features

Signalized intersection
Dense retail corridor
Shopping Ctr out-parcel
Big Box center
Highway location
Strong tenant synergy
Income tax free state
Long 15+ yr lease
Absolute NNN
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Lake Placid, Florida Zip Code 33852 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wawa
Guarantor:Corporate
Company:Wawa, Inc.
# Units:950
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, V22. Wawa, a...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,935	10,745	18,934
2023 Total Population :	2,969	10,690	18,653
2023 Employed Civilian Pop :	813	3,390	6,224
2023 Total Businesses :	384	571	668
2023 Average Household Income :	$ 58,712	$ 66,731	$ 65,452
2023 Total Consumer Spending :	$ 64 M	$ 287 M	$ 484 M
2023 Median Age :	43	57	57
2023 Total Households :	1,253	4,903	8,437
2023 Pop Age 25+: Bachelor's Degree :	293	1,088	1,708
2023 Average Home Value :	$ 203,253	$ 225,478	$ 236,609

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E Phoenix Ave	Dal Hall Blvd	2005	23,500	0.15 mi
Dal Hall Boulevard	Hillcrest St	2022	3,400	0.20 mi
East Interlake Boulevard	S Magnolia Ave	2022	6,400	0.29 mi
E Phoenix Ave	E Royal Palm Ave	2005	24,000	0.33 mi
Heartland Boulevard	Hillcrest St	2022	2,000	0.36 mi
North Main Avenue	Lakeview St	2022	1,900	0.46 mi
	Plumosa St	2022	21,500	0.61 mi
N Tangerine Drive	Chelsea St	2022	2,200	0.96 mi
US 27	Co Rd 17 N	2022	18,700	1.32 mi
US 27	Co Rd 17 N	2021	18,800	1.32 mi

Listing Broker

William Wamble

SRS National Net Lease Group

Contact

174 Listings
15570 Views
40 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

250 Listings
20780 Views
83 Sold

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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