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Wawa (GL)
611 Dal Hall Blvd, Lake Placid, FL 33852
$6,422,000
Cap Rate 4.50%
Summary
| Price $6,422,000 | Built/Renov 2021 | Tenant Wawa (GL) |
| Cap Rate 4.50% | Lease Type
Abs NNN | Guarantor Corporate |
| Size/SF
5,636
| Lease Start
08-01-2020
| #Units
950
|
| Price/SF $1,139.46 | Expiration
08-01-2040
| Tenant Type Convenience/Gas |
| NOI $289,000 | R. Term 16.7 | Ownership Ground Lease |
| Rent/SF
$51.28
| Increases 8.0%/8/yrs | Pop 5Mi 18,653 |
| Lot/AC 2.57 | Options 6/5yrs/8% | AHHI 5Mi $65,452 |
| | |
Lease Highlights
- Wawa has 16+ years remaining on the original 20-year ground lease with 6 (5-year) options to extend
- The lease features 8% rental increases every 5 years starting in lease year 11 and at the beginning of each option period
- Absolute NNN | Zero landlord responsibilities
- Corporate guaranteed lease
Location Description
Wawa is strategically located on Dal Hall Blvd, with access to 29,300 vehicles. The property is an outparcel to South Highlands Shopping Center, a modern Publix anchored center with nearby national/credit tenants such as Burger King, Subway, Dollar General, Domino’s, Tractor Supply Co. & more. Notably, this property and the Sebring site are the first Wawas in Highlands County. Additionally,...
...Features
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Signalized intersection
-
Dense retail corridor
-
Shopping Ctr out-parcel
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Big Box center
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Highway location
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Strong tenant synergy
-
Income tax free state
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Long 15+ yr lease
-
Absolute NNN
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Corporate Guarantee
...
Maps
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 2,935 | 10,745 | 18,934 |
| 2023 Total Population : | 2,969 | 10,690 | 18,653 |
| 2023 Employed Civilian Pop : | 813 | 3,390 | 6,224 |
| 2023 Total Businesses : | 384 | 571 | 668 |
| 2023 Average Household Income : | $ 58,712 | $ 66,731 | $ 65,452 |
| 2023 Total Consumer Spending : | $ 64 M | $ 287 M | $ 484 M |
| 2023 Median Age : | 43 | 57 | 57 |
| 2023 Total Households : | 1,253 | 4,903 | 8,437 |
| 2023 Pop Age 25+: Bachelor's Degree : | 293 | 1,088 | 1,708 |
| 2023 Average Home Value : | $ 203,253 | $ 225,478 | $ 236,609 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| E Phoenix Ave | Dal Hall Blvd | 2005 | 23,500 | 0.15 mi |
| Dal Hall Boulevard | Hillcrest St | 2022 | 3,400 | 0.20 mi |
| East Interlake Boulevard | S Magnolia Ave | 2022 | 6,400 | 0.29 mi |
| E Phoenix Ave | E Royal Palm Ave | 2005 | 24,000 | 0.33 mi |
| Heartland Boulevard | Hillcrest St | 2022 | 2,000 | 0.36 mi |
| North Main Avenue | Lakeview St | 2022 | 1,900 | 0.46 mi |
| Plumosa St | 2022 | 21,500 | 0.61 mi | |
| N Tangerine Drive | Chelsea St | 2022 | 2,200 | 0.96 mi |
| US 27 | Co Rd 17 N | 2022 | 18,700 | 1.32 mi |
| US 27 | Co Rd 17 N | 2021 | 18,800 | 1.32 mi |
