1518 U.S. Highway 90 - Freestanding FOR SALE


Lake City, FL 32055
$5,800,000 USD
415-690-5522
1518 U.S. Highway 90, Lake City, FL for Sale
$5,800,000 USD
Freestanding - FOR SALE
1/6
null | 5% Cap Rate

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


HIGHLIGHTS

  • New 20-year absolute NNN ground lease to Wawa, a leading chain of convenience stores and fuel stations that is aggressively expanding its presence bey
  • Tenant covers all taxes, insurance, and maintenance, including roof, structure, and parking lot, providing a fully passive investment
  • Corporate-backed lease by Wawa, Inc., ranked #20 on the Forbes Largest Private Companies List, providing investor confidence in a proven brand.
  • Wawa plans to add 600+ stores by 2030, totaling 1,800+ locations.

OVERVIEW

This property is a Wawa convenience store located at a highly visible signalized intersection of NW Ridgewood Avenue and US Highway 90, benefiting from approximately 38,000 vehicles per day and multiple access points. The site is supported by a strong local demographic base, with nearly 35,000 residents within a five-mile radius and average household incomes approaching $100,000 within one mile. The location benefits from proximity to major healthcare employers, including HCA Florida Lake City Hospital and the Lake City VA Medical Center, which together employ more than 1,000 people. The property is also surrounded by prominent national retailers such as Publix, Home Depot, Lowe’s, and Walmart, creating significant cross-shopping traffic. From an investment perspective, the asset features an absolute NNN ground lease, placing responsibility for maintenance, structural components, and parking areas on the tenant and minimizing landlord obligations. Additionally, projected population and income growth in the surrounding area support the long-term outlook for both the property and the Lake City market.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$981 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wawa Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Service Station, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

80

LAND DETAILS

LAND ACRES

5.16 AC

LAND SF

224,770 SF

ZONING

CI

APN/PARCEL ID

31-3S-17-06185-000

ASK ABOUT THIS PROPERTY

Vincent AicaleCushman & WakefieldMore Info
415-690-5522

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Vincent AicaleCushman & WakefieldMore Info
415-690-5522

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