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

WAWA – WalMart Market Outparcel with 87,000 VPD Traffic Counts

9715 Beach Blvd, Jacksonville, FL 32246, USA
$4,615,000

Description

Marcus & Millichap is pleased to exclusively offer a brand new Wawa located at 9715 Beach Boulevard in Jacksonville, Florida. The property benefits from a new 20 – Year Ground Lease with 6.5% increases in year 11 and 16 of the base term and each of the six (five-year) option periods. The subject property consist of a newly constructed 6,119 Square Foot Convenience Store that sits on a large 1.75 Acre Parcel on the busy intersection of Southside Boulevard (33,500 VPD) and Beach Boulevard (52,500 VPD). This Wawa has multiple points of ingress and egress on both Beach  Boulevard and Southside Boulevard.

The centralized location also allows for easy access from I-95, Butler Boulevard, I-295, Downtown and Jacksonville’s Beaches. A Wal-Mart Supercenter is located on the opposing corner along with several other leading national retailers that have established a presence in the Southside-Beach corridor including Sam’s Club, Winn Dixie, Walgreens, CVS, McDonalds, and Advanced Auto. Furthermore, The Saint John’s Town Center, a 200-acre open-air regional mall which boasts more than 100retailers, is located only a few miles to the southeast as well as the University of North Florida which boasts a total enrollment of 15,839 students.

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.

  • Brand New Construction Corporate Guaranteed Wawa with 20 Years of Lease Term
  • Located at a Hard Corner Signalized Intersection with Exposure to More than 90,000 Vehicles Per Day
  • Close to 206,000 Residents in the Market Area with an Average Household Income Exceeding $63,000
  • Located a few Miles Away from The University of North Florida with a Total of 15,839 Students
  • St. John’s Town Center, a Simon Owned Upscale Open Air Lifestyle Center with Tenants that Include Apple, Microsoft, Tesla and Target, is Located 4 Miles from this Wawa
  • WAWA is a Chain of More than 800 Convenience Stores with more than $9 Billion in Annual Revenue
  • The Seven-County Greater Jacksonville Area can Realistically Aspire to Become the “Highest Performing Economy in the Country” Over the Next Five Years, According to an Elevate Northeast Florida Report.

Property Documents

  • City: Jacksonville
  • State/county: Florida
  • Zip/Postal Code: 32246
  • Country: United States

Detail

  • Price: $4,615,000

Additional details

  • CAP Rate: 4.55%
  • NOI: $210,000

Features