8861 Pine Forest RdPensacola, FL 32534

Property Details for 8861 Pine Forest Rd

Year built

2024

Lot size

2.00 AC

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 6,000 square-foot Wawa convenience store and gas station located in Pensacola, Florida. Situated on a 2-acre lot at 8861 Pine Forest Rd, 32534, this property benefits from a 20-year absolute NNN lease commencing November 1, 2024, and expiring November 1, 2044. The lease includes six 5-year renewal options and a 7% rent increase starting in the eleventh year. The property boasts a strong 4.50% cap rate and a current NOI of $156,816. This Wawa is strategically positioned as an outparcel within the 40+ acre Ransley Station mixed-use development, enjoying high visibility and accessibility directly off Interstate 10 (81,500 vehicles per day). The development includes significant residential components such as The Waters at Ransley (336 units) and Avalon Apartments (276 units), ensuring a substantial customer base. The property's location is further enhanced by its proximity to other established retailers, including a Walmart Neighborhood Market, Publix, Wendy's, and Starbucks. The nearby Publix consistently ranks in the top 70% of all locations nationwide. This is a credit-rated tenant with a single tenancy, offering a secure and lucrative investment opportunity in a rapidly growing area. The property was built in 2024 and is part of a ground lease.

Location Insight

City

Pensacola

County

Escambia

State

Florida

Latitude

30.527

Longitude

-87.3138

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