Wawa Lake City
New 20-Year Wawa | High Traffic Signalized Intersection | Lake City, FL
Marketing description
CBRE is pleased to exclusively present a brand new 20 year absolute NNN ground lease with Wawa, one of the most highly sought after single tenant net lease tenants. The 5,915 SF building sits on a 4.93 acre parcel at a high traffic, signalized hard corner intersection in Lake City, FL with exceptional visibility and access. The new 20 year absolute NNN lease includes fixed rental increases throughout the term and provides truly hands off ownership with no landlord obligations.
The site is located directly on U.S. Highway 90 which generates substantial daily traffic and demand. Additionally, the asset benefits from proximity to I-75, which brings strong daily traffic counts, excellent regional connectivity, and consistent commuter exposure. This prime highway access enhances visibility, supports steady customer flow, and provides convenient ingress and egress for both local residents and through-travelers, making the location ideal for high-volume retail operations such as Wawa. The location is further enhanced by its access to the junction of Interstate 10 (I-10) and I-75, one of the region’s primary transportation corridors which provides exceptional east–west and north–south connectivity.
Investment highlights
• Brand New 20-Year lease with Wawa
• Corporate guaranty from Wawa, Inc. – Investment grade credit with a Fitch rating of ‘BBB’
• Absolute NNN ground lease – No landlord management obligations
• Fixed 7% rental increases every 5 years (starting in year 11) and including options
• Hard corner signalized intersection with excellent visibility & access
• Positioned on U.S. Highway 90 - the primary retail and commuter thoroughfare serving Lake City with over 33,000 VPD
• Situated only 2 miles East from an on/off ramp for I-75 (53,000 VPD)
• Large 5.16-acre parcel with 80 parking spaces & multiple access points
• No debt to assume
• Florida has NO STATE INCOME TAX
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