• An Award Winning Net Lease & Retail Commercial Real Estate Group

WAWA Brand New Construction 20 Year NNN Ground Lease

2853 West Norvell Bryant Highway, Lecanto, FL 34461, USA
$2,777,777

Description

Marcus & Millichap is pleased to exclusively offer for sale a brand new WAWA, located at 2853 West Norvell Bryant Highway in Lecanto, Florida.
The property benefits from a 20-Year Corporate Ground Lease with eight percent increases every five years during base term, starting Year 11 and in each of the six (five-year) option periods. This 5,363 SF convenience store is positioned on a large 1.80-acre-parcel of land. Furthermore, the site is positioned at the signalized intersection of North Lecanto Highway and West Norvell Bryant Highway, with combined daily traffic counts in excess of 27,000 vehicles per day, and benefits from over 39,134 full time residences with a house hold income exceeding $67,422 annually.
There are numerous National and Regional retailers in the immediate area including a brand new Wendy’s, Walmart Super Store, McDonalds, Circle K, and Shell among others.
WAWA is a chain of more than 800 convenience retail stores with over 500 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. WAWA is a brand that is on the move, redefining the traditional view of a convenience store, creating a lifestyle brand.

  • Corporate Guaranteed WAWA with 20 Year Absolute NNN Ground Lease
  • Brand New 2019 Construction (Rent Commencement – May 2019)
  • Directly across from Walmart Super Center
  • Explosive Population Growth with Numerous New Homes being Built in the Immediate Vicinity
  • Close to 39,134 Residents in the Market Area with An Average Household Income Exceeding $67,422
  • 8% Increases Every 5 Years, Starting Year 11
  • Features Easy Access and Visibility; Signalized Intersection to Daily Traffic Counts Exceeding 27,000 Vehicles Per Day
  • WAWA is a chain of more than 800 Convenience Stores with more than $9 Billion in Annual Revenue

Property Documents

  • City: Lecanto
  • State/county: Florida
  • Zip/Postal Code: 34461
  • Country: United States

Detail

  • Price: $2,777,777

Additional details

  • CAP Rate: 4.50%
  • NOI: $125,000

Features

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