For Sale
$6,000,000

1495 Capital CirTallahassee, FL 32303

High-Yield Wawa, 20-Year Lease

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, 5,943 square foot Wawa convenience store and gas station located at 1495 Capital Cir NW, Tallahassee, FL 32303. Boasting a prime location on a signalized, hard corner intersection with high visibility and traffic counts (44,800 VPD combined), this property benefits from its proximity to I-10 (59,000 VPD) and Tennessee St (31,700 VPD). The 2.39-acre lot features a 20-year absolute NNN lease commencing October 27, 2024, and expiring October 31, 2044, with 7% rent bumps every five years beginning in year 11. The property offers a strong NOI of $270,000 and a 4.50% cap rate, representing a compelling return on investment. This is Wawa's first Tallahassee location, situated within a high-growth metropolitan area with a robust demographic profile. The 5-mile trade area boasts over 115,000 residents and 70,000 employees, with an average household income of $62,746. The property's strategic location within a strong industrial corridor and near Capital West Shopping Center (ranking in the 88th percentile nationally) further enhances its appeal. Built in 2024, the property showcases high-quality materials and finishes. The lease includes six 5-year options, and the property is offered as a leased fee with a ground lease in place. This is a rare opportunity to acquire a high-performing asset in a rapidly expanding market. The asking price is $6,000,000.

Highlights

  • Brand new, 5,943 SF Wawa convenience store and gas station on a 2.39-acre lot.
  • Located at a signalized, hard corner intersection with 44,800 VPD, near I-10 (59,000 VPD) and Tennessee St (31,700 VPD).
  • 20-year absolute NNN lease starting October 27, 2024, with 7% rent increases every five years starting year 11, plus six 5-year options.
  • Strong NOI of $270,000 and a 4.50% cap rate; asking price $6,000,000.
  • First Wawa in Tallahassee, within a high-growth area; 5-mile trade area has over 115,000 residents and 70,000 employees, with an average household income of $62,746.

Property Details for 1495 Capital Cir

Property type
Retail properties, Grocery and convenience stores
Year Built
2024
Lot Size (sq. ft)
104,108 SF

Location Insight

City
Tallahassee
County
Leon
State
Florida
Latitude
30.4699579
Longitude
-84.3607091
1495 Capital Cir, Tallahassee, Florida

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1495 Capital Cir
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