For Sale
$8,100,000

1891 Federal HwyHollywood, FL 33020

High-Yield Wawa Ground Lease, South Florida

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 5,636 square foot Wawa convenience store and gas station located at a signalized, hard corner intersection on US-1/N. Federal Highway in Hollywood, Florida. The property sits on a 1.37-acre lot and boasts a new 2023 construction. The absolute NNN lease with Wawa, Inc., a credit-rated tenant (Fitch: BBB), features a remaining term of 17.7 years with six 5-year options to extend, ensuring long-term stability. The lease commenced July 17, 2022, and expires July 31, 2042. The current annual net operating income (NOI) is $365,000, representing a 4.51% cap rate on the $8,100,000 asking price. Rent increases are built into the lease, with an 8% increase every five years beginning in lease year 11, and 10% increases at the beginning of each option period. The property's strategic location near Interstate 95 and South Broward High School (2,300+ students) ensures high traffic and visibility. This investment offers a compelling combination of a strong tenant, long-term lease, and prime location in a high-growth area. The property's APN is 51-42-10-54-0010. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant upside potential.

Highlights

  • $8,100,000 asking price for a Wawa convenience store and gas station.
  • 17.7 years remaining on a corporate-guaranteed, absolute NNN lease with six 5-year options.
  • Investment-grade tenant (Wawa, Inc., Fitch: BBB) with over 1,040 locations.
  • High-traffic location at a signalized intersection of US-1/N. Federal Hwy and Harding Street, near I-95 and South Broward High School.
  • Excellent visibility and accessibility with significant street frontage and multiple points of access.

Property Details for 1891 Federal Hwy

Property type
Retail properties, Grocery and convenience stores
Year Built
2023
Lot Size (sq. ft)
59,677 SF

Location Insight

City
Hollywood
County
Broward
State
Florida
Latitude
26.0279702
Longitude
-80.1430784
1891 Federal Hwy, Hollywood, Florida

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1891 Federal Hwy
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