Wawa (GL)

2500 Davie Road, Davie, FL 33317

$5,054,000

Cap Rate 4.65%

Views: 111 DOM: 155 Updated: 11.04.24 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 16.1	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 every 5 years throughout the primary 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 20+ 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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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	10,883	113,932	386,033
2024 Total Population :	10,686	112,602	382,179
2024 Employed Civilian Pop :	6,405	63,881	207,735
2024 Total Businesses :	766	8,806	22,591
2024 Average Household Income :	$ 96,026	$ 103,538	$ 102,069
2024 Total Consumer Spending :	$ 388 M	$ 3862 M	$ 12825 M
2024 Median Age :	35	39	39
2024 Total Households :	4,521	42,634	143,405
2024 Pop Age 25+: Bachelor's Degree :	2,785	20,075	58,091
2024 Average Home Value :	$ 508,004	$ 486,011	$ 504,478

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Davie Road	Reese Rd	2022	20,500	0.11 mi
Davie Road	Reese Rd	2020	20,600	0.11 mi
	SW 24th Pl	2022	17,500	0.15 mi
State Hwy 84	SW 64th Ave	2008	17,500	0.25 mi
	SW 21st St	2022	8,500	0.26 mi
Port Everglades Expressway	SW 21st Ln	2022	218,500	0.31 mi
I- 595	Sr84	2008	218,000	0.37 mi
Nova Dr	Palm TrceLandings Dr	2008	22,000	0.42 mi
Nova Drive	Palm TrceLandi	2022	11,500	0.47 mi
	SW 51st Ter	2022	25,500	0.48 mi

Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
27372 Views
93 Sold

William Wamble

SRS National Net Lease Group

Contact

186 Listings
20945 Views
49 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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