Wawa (GL)

1891 North Federal Highway, Hollywood, FL 33020

$8,100,000

Cap Rate 4.51%

Views: 57 DOM: 55 Updated: 11.04.24 Posted: 09.21.24 Status: Active

Summary

Price $8,100,000	Built/Renov 2023	Tenant Wawa (GL)
Cap Rate 4.51%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,636	Lease Start 07-17-2022	#Units 1,050
Price/SF $1,437.19	Expiration 07-31-2042	Tenant Type Convenience/Gas
NOI $365,000	R. Term 17.8	Ownership Ground Lease
Rent/SF $64.76	Increases 8.0%/9/yrs	Pop 5Mi 279,127
Lot/AC 1.37	Options 6/5yrs/10%	AHHI 5Mi $91,356

Lease Highlights

New 2023 construction which features high quality materials, latest design elements, and state-of-the-art features
Wawa has 17+ years remaining on the current ground lease term with 6 (5-year) options to extend
The lease features 8% rental increases every 5 years beginning in year 11, 10% at the start of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Wawa is strategically located at the signalized, hard corner intersection of N Federal Hwy and Harding Street, with access to a combined daily traffic count of 36,500 vehicles. US 1/N. Federal Hwy is a major thoroughfare that serves the entire East Coast of Florida. The property is less than two miles east of Interstate 95, which sees 222,000 VPD, and is directly across from South Broward High...

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Key Features

New construction
Signalized intersection
Dense retail corridor
Highway location
Strong demographics
Income tax free state
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Hollywood, Florida Zip Code 33020 Broker Site Page

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
2027 Total Population :	21,836	129,552	282,507
2022 Total Population :	21,775	125,762	278,276
2022 Employed Civilian Pop :	11,525	65,634	142,277
2022 Total Businesses :	1,308	11,394	25,358
2022 Average Household Income :	$ 74,256	$ 85,640	$ 90,929
2022 Total Consumer Spending :	$ 639 M	$ 4138 M	$ 9128 M
2022 Median Age :	45	45	44
2022 Total Households :	9,948	55,987	116,615
2022 Pop Age 25+: Bachelor's Degree :	3,547	20,680	43,458
2022 Average Home Value :	$ 387,400	$ 394,808	$ 404,163

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N Federal Hwy	Harding St	2009	28,000	0.07 mi
Taft St	N Federal Hwy	2008	1,400	0.13 mi
Taft Street	N 16th Ct	2020	2,300	0.20 mi
Taft Street	N 20th Ave	2020	4,100	0.30 mi
Federal Highway	Cleveland St	2020	29,500	0.35 mi
Taft St	N 21st Ave	2008	6,600	0.41 mi
Sheridan St	SE 3rd Ave	2008	23,500	0.42 mi
East Sheridan Street	SE 3rd Ave	2020	27,500	0.43 mi
North 14th Avenue	Sherbrooke Blvd	2020	1,700	0.43 mi
North 21st Avenue	Wilson St	2020	4,300	0.45 mi

Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
26671 Views
93 Sold

William Wamble

SRS National Net Lease Group

Contact

186 Listings
20363 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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