1891 Federal HwyHollywood, FL 33020

Property Details for 1891 Federal Hwy

Year built

2023

Lot size

1.37 AC

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

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.

Location Insight

City

Hollywood

County

Broward

State

Florida

Latitude

26.028

Longitude

-80.1431

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