600 Burleigh BlvdTavares, FL 32778

Property Details for 600 Burleigh Blvd

Year built

1979

Construction

CONCRETE

Lot size

0.94 AC

Property size (Sq ft)

2,906 SF

Property type

Retail properties

Property subtype

Retail space

APN

29-19-26-0700-00E-00100

APU

291926070000E00100

Description

This exceptional investment opportunity presents a brand-new, single-tenant Wawa convenience store and gas station in Tavares, Florida. Located on a 1.99-acre lot at a signalized intersection with 90,500 vehicles per day, this property boasts excellent visibility and multiple access points. The 5,641 square-foot building, constructed in 2024, features 50 parking spaces and benefits from a strong tenant synergy with nearby retailers including CVS, Home Depot, Publix, and Dollar General. The property is situated near Tavares High School, Tavares Middle School, and Lake County government offices, ensuring a consistent customer base. The 20-year absolute NNN ground lease, commencing October 1, 2024, includes 7% rent bumps every five years beginning in year 11, and six 5-year lease options. The property's NOI is $250,000, resulting in a 4.40% cap rate, and the asking price is $5,682,000. The tenant, Wawa, is credit-rated, minimizing risk. This is a compelling investment opportunity with significant long-term potential in a high-traffic location within the Orlando MSA. The proximity to AdventHealth Waterman, which recently announced a $3 million expansion, further enhances the property's value and long-term prospects. The Winn-Dixie located nearby is a top performer nationally, indicating a strong retail environment. This property offers a secure, passive income stream with built-in growth potential.

Location Insight

City

Tavares

County

Lake

State

Florida

Latitude

28.8103

Longitude

-81.7339

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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