ASKING PRICE: $6,823,529
CAP RATE: 4.25%
- PROMINENT LOCATION — New construction at the signalized intersection of SR 7/U.S. 441, a major north-south artery in South Florida, & Loxahatchee Rd. (66.9K ADT combined). Located near major retailers including Publix, BJ’s Wholesale Club & Walmart. Future residential development located directly behind the site.
- AFFLUENT TRADE AREA — Parkland is an affluent city in Broward County. Over 288,000 people, with an average household income of nearly $90K, within 5 miles.
- LOW TAX BURDEN — No state income tax in Florida provides a low tax burden for the investor.
- ABSOLUTE NNN LEASE — Corporate guarantee; zero landlord responsibilities with structured rent increases throughout the base term and options.
- STRONG BARRIERS TO ENTRY — Parkland zoning laws are designed to protect the “parklike” character of the city. While Parkland’s features are predominantly residential, small portions are zoned for commercial and industrial development.
- SUCCESSFUL TENANT — Wawa owns and runs 730+ Wawa Food Markets in DE, MD, NJ, PA, VA, & Central FL. The company recently announced an approximately $150M investment to begin its expansion into N. Florida with up to 5 stores by the end of 2017 & intentions of adding an additional 30–40 locations, eventually. Additionally, the company has recently expanded into S. Florida, with hopes to have over 50 locations in the next 5 years.
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