Wawa Pompano Beach, Florida

$6,250,000
Cap Rate: 4.40%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 4.40%
Year Built: 2017
NOI: $275,000
Square Feet: 6,119
Rent/Square Foot: $44.91
Year Built: 2017
Land: 1.88 Acres
Lease Type: NNN Ground Lease
Lease Term: 20 Years
Option Periods: 6, 5-Year Options
Rental Increases: 10% Every 5 Years
Lease Expiration: 12/31/2037

Description

Address:

2201 West Sample Road
Pompano Beach, Florida 33073

Wawas new, 20-year, ground lease features six, five-year renewal options and 10 percent rental increases every five years in both base term and option periods. The lease is corporately guaranteed by Wawa, Inc., a chain of over 750 locations.

Consumers can easily access Wawa located at the intersection of Powerline Road and Sample Road, with a combined daily traffic count of more than 100,000 vehicles. The area boasts excellent demographics with a population of more than 350,000 within a five mile radius of the property.

Wawa is within immediate vicinity of interchange for two expressways; Interstate 95, which has a daily traffic count of more than 200,000, and Florida Turnpike, with a daily traffic count of more than 100,000. Major national retailers include Costco, CarMax, Home Depot, Save-a-Lot, Family Dollar, Bank of America, Bank United, CVS, Dunkin Donuts, McDonalds, Burger King and many more.

Wawa is strategically positioned one half mile from the Festival Flea Market Mall, which is a quarter-mile long with over 500 stores and restaurants. It is also two miles from Butterfly World – the worlds largest butterfly park, home to more than 20,000 live butterflies, three miles from Seminole Casino Coconut Creek and four miles from Broward College North Campus and Isle Casino Pompano Park the #1 attraction in Pompano Beach by Trip Advisor.

Wawa is a chain of more than 750 convenience retail stores with over 365 offering gasoline investment grade tenant with BBB credit rating by Fitch 2016 revenue was approximately $9.68 billion.

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