ASKING PRICE: $3,888,888
CAP RATE: 4.5%
- DENSE TRADE AREA — Over 124,750 households and 292,000 people, with an average household income of $65K+, within five miles of the property. Part of the Orlando-Kissimmee-Sanford MSA (26th largest MSA in the U.S., 6th largest in the Southern U.S., & 3rd largest in FL). Orlando area tourist attractions and events drew over 62 million visitors in 2014.
- QUALITY INVESTMENT — New construction at the intersection of S. Semoran Blvd. & La Costa Dr. with high traffic counts (64K+ ADT). Less than 1 mile from SR 408 (Spessard L. Holland East-West Expressway) running east-west through Orlando. No state income tax in Florida provides a low tax burden to the investor.
- ABSOLUTE NNN LEASE — Corporate guarantee; zero landlord responsibilities with structured rent increases throughout the base term and options.
- SUCCESSFUL TENANT — Wawa owns and runs 730+ Wawa Food Markets in Delaware, Maryland, New Jersey, Pennsylvania, Virginia, and Central Florida. The company recently announced an approximately $150 million investment to begin its expansion into North Florida with up to five stores by the end of 2017 and intentions of adding an additional 30–40 locations, eventually. Additionally, the company has recently expanded into South Florida, with hopes to have over 50 locations in the next 5 years.
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