2530 E BAY DR Largo FL 33771-2406

SRS Capital Markets is pleased to exclusively present the first drive-thru Wawa location in Florida and the third-ever built in the world. This investment opportunity is being offered for $2,900,000, which represents a 5% capitalization rate.

The 2,500 sq. ft. upgraded construction double-drive-thru Wawa is located in the heart of Largo, FL. The tenant improved the site before occupying the premises and is paying below-market rents compared to their other locations.

The original 10-year lease has 9.6 years remaining, with a 7% rental increase in year 6. There are an additional six 5-year renewal options with 7% rental increases. This is an Absolute NNN lease with no landlord responsibilities.

Wawa, Inc. chose the Tampa/St. Petersburg MSA over other markets in the state to establish their first drive-thru location after extensive research. According to Placer AI, Wawa gas stations within the region rank among the top in the country in terms of visitations, attracting millions of visitors annually. There are over 60,000 vehicles passing the site each day, with over 254,000 residents within 5 miles.

Winn-Dixie Cross-Access | Excellent Visibility & Ease of Access

· Wawa is located at the hard signalized corner of East Bay Drive (65,500 VPD) & Keene Road (33,900 VPD)

· The asset benefits from significant street frontage and multiple points of access, providing convenience and ease for customers

· Wawa stands to gain significant advantages with its cross-access to the neighboring Winn-Dixie, resulting in increased consumer exposure

Strong Demographics In 5-mile Trade Area

· More than 256,000 residents and 157,000 employees support the trade area

· $85,054 average household income

Fronting East Bay Drive | Part of Larger Development | Primary Thoroughfare | Surrounding National/Credit Tenants

· Wawa is strategically fronting East Bay Drive averaging 60,500 VPD

· The site is part of a larger development that features a Winn-Dixie, Bank of America, Amped Fitness, and more

· East Bay Drive is a primary retail thoroughfare serving the city of Largo with surrounding national/credit tenants such as Publix, Ross, Walmart Supercenter, and more

· Strong tenant synergy increases consumer draw to the immediate trade area

Wawa Drive-Thru | Convenience Driven Prototype

· Wawa plans to double its unit county by end of the decade, an expansion that will include more drive-thru locations

· This store offers extra convenience and focuses on fresh food through drive-thru service and curbside pickup only

This free-standing 2,952 heated square foot building was built in 2002 and sits on 0.905 acres. With direct frontage on E Bay Dr, the property has exceptional visibility and boasts 64,000 AADT (FDOT 2019 Data). Right-in right-out access only; left-in requires U-turn. The building is currently built out as a fast-food restaurant with functioning drive-through. Currently occupied by KFC of America, Inc., the Tenant has vacated the property but is continuing rent payments through their end of term lease expiring October 2021. The property is being offered for Sale or Lease. Signed confidentiality agreement required. Please contact Broker for additional information.

• Densely populated Pinellas County, FL.
• State Road 686 is home to numerous retail businesses.
• Nearby access to US HWY 19, major corridor.
• Central to the Beaches and Tampa Bay.