Wawa - Tallahassee FL (Capital Circle)
Brand New Construction | Neighboring FSU and FAMU | Directly Off I-10 (59,000 VPD)
Marketing description
Introducing an exceptional investment opportunity - 1495 Capital Circle NW in Tallahassee, Florida, featuring the first Wawa location in the city. With brand new construction and a prime location directly off I-10, this single-tenant absolute NNN ground lease property presents a lucrative chance for investors. The site, with a rentable area of 5,943 SF on 2.39 acres, is leased by Wawa Florida, LLC, a subsidiary of Wawa Inc., an acclaimed convenience store operator with over 1,100 locations nationwide. This 20-year lease comes with 6 (5-year) extension options, showcasing Wawa's long-term commitment. Boasting a cap rate of 4.50% and net operating income of $270,000, the property promises scheduled rental increases and a solid tenant in an industrial corridor.
Investment highlights
Demographics 5-Mile Trade Area | High-Growth Metropolitan Area | Proximity to Downtown Tallahassee
More than 115,000 residents and 70,000 employees support the trade area
Features an average household income of $62,746
Located 6 miles West of Downtown Tallahassee
Tallahassee is currently the 12th fastest growing metropolitan area in Florida with a growth rate of 12.4%, which is higher than Miami and Tampa
Signalized, Hard Corner Intersection | Industrial Corridor | Off I-10 & Tennessee St | First Wawa Location in Tallahassee
Located at the signalized, hard corner intersection of Capital Circle NW and Hartsfield Rd averaging a combined 44,800 VPD
The strong industrial corridor to the East will provide a direct consumer base from which to draw
This is Wawa’s first location in Tallahassee
Just South of I-10 (59,000) and just North of Tennessee St (31,700 VPD), two major commuter thoroughfares serving Tallahassee and the surrounding trade areas
Capital West Shopping Center, located just South of the Wawa, ranks in the 88th percentile (4,341 out of 39,215) of all nationwide shopping centers according to Placer.ai
2024 construction which features high quality materials, distinct design elements, and high-level finishes
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