This exceptional investment opportunity presents a brand-new, single-tenant Wawa convenience store and gas station in Tavares, Florida. Located on a 1.99-acre lot at a signalized intersection with 90,500 vehicles per day, this property boasts excellent visibility and multiple access points. The 5,641 square-foot building, constructed in 2024, features 50 parking spaces and benefits from a strong tenant synergy with nearby retailers including CVS, Home Depot, Publix, and Dollar General. The property is situated near Tavares High School, Tavares Middle School, and Lake County government offices, ensuring a consistent customer base. The 20-year absolute NNN ground lease, commencing October 1, 2024, includes 7% rent bumps every five years beginning in year 11, and six 5-year lease options. The property's NOI is $250,000, resulting in a 4.40% cap rate, and the asking price is $5,682,000. The tenant, Wawa, is credit-rated, minimizing risk. This is a compelling investment opportunity with significant long-term potential in a high-traffic location within the Orlando MSA. The proximity to AdventHealth Waterman, which recently announced a $3 million expansion, further enhances the property's value and long-term prospects. The Winn-Dixie located nearby is a top performer nationally, indicating a strong retail environment. This property offers a secure, passive income stream with built-in growth potential.
Highlights
Brand-new, single-tenant Wawa (credit-rated) on a 1.99-acre lot in Tavares, FL.
High-traffic location (90,500 VPD) at a signalized intersection with excellent visibility and multiple access points.
Strong tenant synergy with nearby CVS, Home Depot, Publix, Dollar General, and a top-performing Winn-Dixie.
Proximity to Tavares High School, Tavares Middle School, Lake County government offices, and AdventHealth Waterman (with a recent $3M expansion).
5,641 SF building (built 2024) with 50 parking spaces; 20-year absolute NNN ground lease with 7% rent bumps every five years (starting year 11) and six 5-year options. NOI of $250,000, 4.40% cap rate, $5,682,000 asking price.
and the seller will not be fixing it. With some TLC
this property presents a great opportunity. There is also an option to purchase this lot or all five available properties in total at a bulk price. Inquire for more information. Envision your business thriving in this vibrant community setting where old-world charm meets modern convenience. Contact us today to schedule a private tour and explore the potential of 113 E Main St. Your next chapter of success begins here.""""}"""
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Contacts
William Wamble
Patrick Nutt
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600 Burleigh Blvd, Tavares, Florida, 32778
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600 Burleigh Blvd
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