1518 U.S. Highway 90 - Freestanding FOR SALE


Lake City, FL 32055
$6,105,000 USD
954-302-7365
1518 U.S. Highway 90, Lake City, FL for Sale
$6,105,000 USD
Freestanding - FOR SALE
1/8
null | 4.75% Cap Rate

1518 U.S. Highway 90
Lake City, FL 32055


HIGHLIGHTS

  • Brand New 20-Year Lease | Scheduled Rental Increases | Wawa - Strong Earnings Report and Continued Growth
  • Signalized, Hard Corner Intersection | Off I-75 | Surrounding Retailers | Main Retail Corridor
  • Absolute NNN Ground Lease | No State Income Tax |No Landlord Responsibilities | Land Ownership
  • Demographics in 5-mile Trade Area

OVERVIEW

• The lease is guaranteed by Wawa Inc., an investment grade (Fitch: BBB), nationally recognized, and an established convenience store and gas brand with over 1,100+ locations • Brand new 20-year ground lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site • The ground lease features 7% rental increases every 5 years starting in lease year 11 • Wawa was ranked No. 22 in Forbes 2024 Ranking of America’s largest private companies • Wawa merchandise sales per store averaged $7.1M for the year ended 2024 versus an industry average of $2.7M for 2023 (Source: NACS) • Gasoline sales totaled 3.1 billion gallons for the year 2024, an average of 69,042 gallons sold a week per store, over two times the industry average of 32,726 per store per week in 2023 (Source: NACS) • Large 4.93-acre parcel

FOR SALE DETAILS

PRICE

$6,105,000 USD

PRICE/SF

$1,032 USD /SF

CAP RATE

4.75%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Wawa - Lake City FL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

80

LAND DETAILS

LAND ACRES

4.93 AC

LAND SF

214,751 SF

ZONING

CI

APN/PARCEL ID

31-3S-17-06185-000

ASK ABOUT THIS PROPERTY

Patrick NuttSRS Real Estate PartnersMore Info
954-302-7365

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Patrick NuttSRS Real Estate PartnersMore Info
954-302-7365

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.