NEW CONSTRUCTION: The stand-alone convenience store and gas station is under construction with an anticipated opening date in May 2022. The Property will consist of a 5,537 square foot building and a gas station with twenty (20) fueling stations on 2.42 acres of land.
LONG TERM LEASE: Wawa has a new 20 year, corporately backed, ground lease (Absolute NNN) with six (6), 5-Year Options.
ATTRACTIVE RENT INCREASES: The lease features 8% rent increases every five years beginning in year 11 of the lease and continuing throughout both the primary term and the option periods providing the investor with an attractive increase in revenue and a hedge against inflation.
ZERO LANDLORD RESPONSIBILITIES: The Wawa ground lease is Absolute NNN and requires zero landlord responsibilities. The tenant is solely responsible for all service, maintenance, repairs, and replacements, making it an attractive investment for the passive real estate investor.
STRATEGIC RETAIL LOCATION: Wawa is strategically positioned along W Oakland Park Boulevard, with excellent visibility and access along a dense retail corridor with average traffic counts of more than 54,500 vehicles per day. The property is also located less 0.5-miles from Interstate 95. Wawa is a pad site to a high-volume Home Depot and is surrounded by other national retailers driving traffic to the area.
Ethan Cole | FL Broker of Record | License BK3382287
Information concerning the property described herein has been obtained from sources other than Horvath & Tremblay and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information.
