2000 State RteMargate, FL 33063

  • Retail properties
  • 5,943 SF
For Sale
$7,647,059 View listing

Property Details for 2000 State Rte

Lot size
1.92 AC
Property size (Sq ft)
5,943 SF
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents a 5,943 square foot Wawa gas station and convenience store located at 2000 State Route 7, Margate, FL 33063. The property sits on a 1.92-acre lot at a signalized intersection with high daily traffic volume (over 90,000 vehicles). This absolute triple-net (NNN) ground lease boasts a corporate guarantee from Wawa, Inc., a nationally recognized investment-grade (Fitch: BBB) company. The lease, commencing January 19, 2018, and expiring January 31, 2038, has over 13 years remaining, with six 5-year renewal options. The current annual net operating income (NOI) is $325,000, representing a 4.25% cap rate and a price per square foot of $1,286.73. Rent escalates 8% every five years, starting in year 11, providing significant long-term growth potential. The property benefits from its location in Margate, Florida, an income tax-free state, within a 5-mile radius boasting a population of 414,327 and an average household income of $93,849. This is a secure, high-performing investment with substantial upside. The asking price is $7,647,059.

2000 State Rte, Margate, Florida

Location Insight

City
Margate
County
Broward
State
Florida
Latitude
26.253
Longitude
-80.2009

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].