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8115 Southern Blvd
West Palm Beach, FL 33411
Wawa - West Palm Beach FL · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 17+ Years Remaining of Firm Term | Corporate Guaranteed | Investment Grade Tenant | Scheduled Rental Increases
- Fronting Southern Blvd/US-98 | Directly Off Florida’s Turnpike | Near The Shoppes at Southern Palms | Strong Retail Corridor
- Dense Demographics In 5-mile Trade Area | Affluent 1-Mile Radius
- Absolute NNN Ground Lease | Land Ownership | Zero Landlord Responsibilities | No State Income Tax
- Adjacent To Burger King | Crossover Synergy | Excellent Visibility & Access
EXECUTIVE SUMMARY
• The tenant has 17+ years remaining with 6 (5-year) options to extend
• The lease is corporate guaranteed by Wawa, Inc., an investment grade
(Fitch: BBB), nationally recognized, and an established convenience store and gas brand with over 1,100+ locations
• The ground lease features scheduled rental increases throughout the initial term and each option to extend, increasing NOI and hedging against inflation
• 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)
• Wawa was ranked No. 22 in Forbes 2024 Ranking of America’s Largers
• The lease is corporate guaranteed by Wawa, Inc., an investment grade
(Fitch: BBB), nationally recognized, and an established convenience store and gas brand with over 1,100+ locations
• The ground lease features scheduled rental increases throughout the initial term and each option to extend, increasing NOI and hedging against inflation
• 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)
• Wawa was ranked No. 22 in Forbes 2024 Ranking of America’s Largers
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
5,537 SF
Building Class
C
Year Built
2023
Price
$12,785,012 CAD
Price Per SF
$2,309.01 CAD
Cap Rate
4.25%
NOI
$543,370 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.95 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
43 Spaces (7.77 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Freeway Visibility
- Signage
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 00-42-43-32-20-001-0010 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $2,165,959 CAD |
PROPERTY TAXES
Parcel Number
00-42-43-32-20-001-0010
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,165,959 CAD
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