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Wawa (GL)
2530 East Bay Drive, Largo, FL 33771
$2,990,000
Cap Rate 4.85%
Summary
| Price $2,990,000 | Built/Renov 2023 | Tenant Wawa (GL) |
| Cap Rate 4.85% | Lease Type
Abs NNN | Guarantor Corporate |
| Size/SF
2,016
| Lease Start
05-01-2023
| #Units
983
|
| Price/SF $1,483.13 | Expiration
04-30-2033
| Tenant Type Convenience/Gas |
| NOI $145,000 | R. Term 9.4 | Ownership Ground Lease |
| Rent/SF
$71.92
| Increases 7.0%/5/yrs | Pop 5Mi 256,657 |
| Lot/AC 0.91 | Options 6/5yrs/7% | AHHI 5Mi $85,054 |
| | |
Lease Highlights
- Brand-new 2023 construction with drive-thru
- Brand-new 10-year ground lease with 6 (5-year) options to extend
- Lease features 7% rental increases every 5 years and at the beginning of each option
- Absolute NNN lease | Zero landlord responsibilities
- Corporate guaranteed by Wawa, Inc.
- Income tax free state
Location Description
Wawa is strategically fronting East Bay Drive/Highway 686, averaging 60,500 vehicles passing by daily. The subject property is part of a larger development that features Winn-Dixie, Bank of America, Amped Fitness, and more. East Bay Drive is a primary retail thoroughfare serving the city of Largo with surrounding national/credit tenants such as Publix, Ross, Walmart Supercenter, and many more....
...Features
-
New construction
-
High traffic 50M+ VPD
-
Major thoroughfare
-
Highway location
-
Dense 200M+ pop 5 mi
-
Top 100 MSA
-
Affluent AHHI $100K 5 Mi
-
Brand new lease
-
Absolute NNN
-
Corporate Guarantee
...
Maps
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 15,970 | 123,354 | 256,648 |
| 2023 Total Population : | 16,165 | 123,865 | 257,530 |
| 2023 Employed Civilian Pop : | 7,808 | 63,952 | 130,524 |
| 2023 Total Businesses : | 546 | 5,517 | 14,781 |
| 2023 Average Household Income : | $ 68,419 | $ 79,403 | $ 86,803 |
| 2023 Total Consumer Spending : | $ 498 M | $ 4028 M | $ 8734 M |
| 2023 Median Age : | 56 | 51 | 49 |
| 2023 Total Households : | 8,368 | 58,174 | 115,588 |
| 2023 Pop Age 25+: Bachelor's Degree : | 2,631 | 19,904 | 40,521 |
| 2023 Average Home Value : | $ 246,618 | $ 284,083 | $ 346,603 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Starkey Rd | E Bay Dr | 2011 | 33,928 | 0.12 mi |
| E Bay Dr | Starkey Rd | 2011 | 58,500 | 0.14 mi |
| E Bay Dr | Royal Palm Dr | 2011 | 58,500 | 0.23 mi |
| East Bay Drive | Alt Keene Rd | 2021 | 52,500 | 0.47 mi |
| East Bay Drive | Floral Dr SE | 2021 | 58,500 | 0.58 mi |
| Lake Avenue Northeast | E Bay Dr | 2021 | 52,500 | 0.65 mi |
| McMullen Road | Imperial Dr | 2021 | 4,500 | 0.67 mi |
| Keene Rd | E Rosery Rd | 2011 | 24,003 | 0.84 mi |
| E Bay Dr | Belcher Rd S | 2011 | 60,500 | 0.85 mi |
| E Bay Dr | 8th St NE | 2011 | 43,500 | 1.00 mi |
