Orlando Wawa | Brand New Construction | 20 Year Absolute NNN Lease

Boggy Creek Rd & Lake Nona Blvd, Florida 32824, USA
$4,239,130

Description

Marcus & Millichap is pleased to exclusively offer for sale a brand new Wawa Ground Lease located at the signalized intersection of Boggy Creek Road and Lake Nona Boulevard in Orlando, Florida.
Wawa recently signed a 20-year corporate ground lease with 7.5 percent increases every five years starting in Year 11 of the base term and in each of the six (Five-Year) option periods.
This Wawa will have a 3,030 square feet convenience store that sits on a large 2.52-acre parcel.
The subject property is strategically located on the busy signalized intersection of Lake Nona Boulevard and Boggy Creek Road which benefits from traffic counts exceeding 40,500 vehicles per day. It is also the first service station for the newly built exit from Central Florida Greeneway (417), a major East-West highway which sees an excess of 46,000 vehicles per day. Wawa is adjacent to a newly developed Publix anchored center with notable tenants such as AT&T, 7-Eleven, Chase, Wendy’s, and more. There is also a proposed development plan for a 120-room hotel right across the street.
Wawa is a chain of more than 800 convenience retail stores with over 500 sites offering gasoline as well. Wawa’s revenue was approximately $9.68 billion in 2016 and they are the 36th largest privately-owned company in the United States.
This is a great opportunity to acquire a newly constructed, corporate guaranteed Wawa in Orlando, Florida. With recordbreaking visitor volume and a thriving local economy fueled by one of the nation’s highest population growth, Orlando’s retail demand is continuously strong as the booming population growth fuels increasingly high personal consumption. In addition, the metro is also one of the tightest labor markets in the country, with an unemployment rate that is one of the best in Florida.

  • Corporate Guaranteed Wawa: 20 Year Absolute NNN Ground Lease with Six (5 Year) Renewal Options
  • Brand New Construction – Opening Slated for May 2020
  • Favorable 7.5% Rental Increases Every Five Years Starting Year 11
  • Located 10 Minutes away from Orlando International Airport
  • Adjacent to a newly constructed Publix Anchored center with tenants including AT&T, Chase, Wendy’s, and more
  • Wawa is a chain of more than 800 locations and more than $9 Billion in Annual Revenue
  • Features Easy Access and Visibility, Hard Corner Signalized Intersection with Traffic Counts Exceeding 40,500 Vehicles Per Day
  • Florida Has No State Income Tax

Property Documents

  • City: Orlando
  • State/county: Florida
  • Zip/Postal Code: 32824
  • Country: United States

Detail

  • Price: $4,239,130

Additional details

  • CAP Rate: 4.60%
  • NOI: $195,000

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