Wawa (GL)

2500 Davie Road, Davie, FL 33317

$5,054,000

Cap Rate 4.65%

Views: 93 DOM: 121 Updated: 10.16.24 Posted: 06.18.24 Status: Active

Summary

Price $5,054,000	Built/Renov 2019/2020	Tenant Wawa (GL)
Cap Rate 4.65%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,636	Lease Start 01-01-2020	#Units 1,050
Price/SF $896.74	Expiration 12-31-2040	Tenant Type Convenience/Gas
NOI $235,000	R. Term 16.2	Ownership Ground Lease
Rent/SF $41.70	Increases 8.0%/5/yrs	Pop 5Mi 382,415
Lot/AC 1.43	Options 6/5yrs/8%	AHHI 5Mi $95,852

Lease Highlights

Wawa has 16+ years remaining on the current ground lease term with 6 (5-year) options to extend
The lease features 8% rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Wawa is strategically located on Davie Road, with access to 20,500 vehicles passing by daily. The property is strategically located off Interstate 595 (218,500 VPD) and Florida’s Turnpike (211,000 VPD). It is just north of Nova Southeastern University, Broward College, and Nova High School. Additionally, it is in proximity to Tower Shops, a community shopping center that ranks in the top 99%...

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Key Features

Signalized intersection
Build to suit
Near major nationals
Freeway visibility
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Davie, Florida Zip Code 33317 Broker Site Page Drone Video

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wawa
Guarantor:Corporate
Company:Wawa, Inc.
# Units:1,050
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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Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

259 Listings
24382 Views
90 Sold

William Wamble

SRS National Net Lease Group

Contact

182 Listings
18482 Views
47 Sold

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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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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