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WAWA Brand New Construction 20 Year NNN Ground Lease

102 N Tamiami Trail, Nokomis, FL 34236, USA
$4,263,736

Description

Marcus & Millichap is pleased to exclusively offer for sale a brand new WAWA, located at 102 North Tamiami Trail in Nokomis (Sarasota County), Florida. The property benefits from a 20-Year Corporate Ground
Lease with seven percent increases every five years during base term and in each of the six (five-year) option periods. This plus/minus 5,500 Square Feet convenience store is positioned on a large 1.71-acre-parcel of land. Furthermore, the site is positioned at the busy intersection of Albee Road and Tamiami Trail, and has outstanding visibility for the 42,000 plus cars that traverse this intersection daily.
There are numerous National and Regional retailers in the immediate area including Home 2 Suites, ExtraSpace Storage Ford dealership, RaceTrac, Hampton Inn & Suites, Chase bank, Walgreens and Bank of America among others.
Bordered by the beautiful cities of Sarasota and Venice, Nokomis is justifiably known for its beautiful seashore, many shopping opportunities and cultivated residential areas. The unincorporated town includes Nokomis Beach, at the south end of exclusive Casey Key.
WAWA is a chain of more than 800 convenience retail stores with over 365 sites offering gasoline as well. Wawa is an investment grade tenant with a BBB credit rating by Fitch, and 2016 revenue was approximately $9.68 billion. With an additional 50 locations planned for 2018, WAWA is a brand that is on the move, redefining the traditional view of a convenience store, creating a lifestyle brand.

  • Sarasota/Manatee Counties Rank among the fastest growing counties in the US. The University of Florida estimates a population explosion of 50% by 2045!
  • Located next to a brand new Hilton Home2Suites Hotel
  • Corporate Guaranteed WAWA with 20 Year Absolute NNN Ground Lease
  • Close to 72,730 Residents in the Market Area with An Average Household Income Exceeding $72,323
  • 7% Increases Every 5 Years
  • Features Easy Access and Visibility; Hard Corner Signalized Intersection to Daily Traffic Counts Exceeding 42,000 Vehicles Per Day
  • WAWA is a chain of more than 800 Convenience Stores with more than $9 Billion in Annual Revenue

Property Documents

  • City: Nokomis
  • State/county: Florida
  • Zip/Postal Code: 34275
  • Country: United States

Detail

  • Price: $4,263,736

Additional details

  • CAP Rate: 4.55%
  • NOI: $194,000

Features