Listed by JLL Chicago | Americas Headquarters, JLL - Irvine (Orange County), California
$8,295,000
Wawa - West Palm Beach, FL
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 5,636
Net Rentable (SqFt) 5,636
Cap Rate 4.4%
NOI $365,000
Occupancy 100%
Tenancy Single
Brand/Tenant Wawa
Lease Type Absolute NNN
Lease Term 20
Remaining Term 20
Rent Bumps Yes
Lease Options 6 X 5-Year Options
Year Built 2026
Acreage 1.500
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/27/2026
Ground Lease Yes
Retail | 4.40% CAP | 5,636 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the brand-new construction Wawa located at the corner of 45th Street & North Military Trail in West Palm Beach, Florida ("Property" or "Asset"). The Property is situated on a large, 1.49-acre parcel that features 16 fuel pumps. Wawa will operate on a 20-year absolute NNN ground lease with 8.0% rent escalations every 5-years starting in the 11th lease year and continuing throughout all six, five-year renewal options.
Investment highlights
- Corporate-backed lease to the 3rd largest private Convenience and Gas in the U.S.
- 20.0 year absolute NNN ground lease with zero landlord responsibilities
- 230K Total Population & $108K avg. household income within a 5-mile radius
- Nearby Cacti Sports Park, Thomas H. Corey VA Medical Center, & Rapids Water Park
- Signalized intersection with direct visibility to 105,000+ VPD
- Dense residential corridor with 3,376 apartment units in development within a 7-mile radius
- 93% increase in millionaires since 2013 & $39B in new wealth & income post-pandemic (across Palm Beach County)
Listing Contacts
Listed by JLL Chicago | Americas Headquarters, JLL - Irvine (Orange County), California
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$365,000.00
$30,416.67/mo
Valuation Metrics
0
DSCR
4.4%
Cap Rate
4.4%
ROI
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