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30066819
30046210

1518 West US Highway 90, Lake City, FL 32055 For Sale

RR
FL FL 3041785
CBRE - Orlando
MD
FL 684111
CBRE - Orlando
Listed by CBRE - Orlando
$6,105,000
138 days on market
Updated 12 days ago

Wawa Lake City

Details
Property Type Retail
Sub Type Gas Station
Square Footage 5,919
Units 1
Cap Rate 4.75%
NOI $290,000
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, Wawa (+1)
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 03/31/2046
Remaining Term 20.1
Rent Bumps Yes
Lease Options (6) 5-Year Options
Class A
Year Built 2026
Buildings 1
Stories 1
Acreage 5.160
Parking Spaces 80 spaces
Parking per 1,000 SqFt 13.52
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 04/01/2026
Occupancy Date 04/02/2026
Ground Lease No
Ownership Fee Simple

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

Listing Contacts

RR
FL FL 3041785
CBRE - Orlando
MD
FL 684111
CBRE - Orlando
Listed by CBRE - Orlando

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$290,000.00
$24,166.67/mo

Valuation Metrics

0
DSCR
4.75%
Cap Rate
4.75%
ROI

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Additional Information

Name
Raymond Romano
License
FL 3041785
Brokerage
CBRE
Brokerage Phone
4074045022
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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