2530 Bay DrLargo, FL 33771

Property Details for 2530 Bay Dr

Year built

2002

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.91 AC

Property size (Sq ft)

3,156 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

36-29-15-46618-001-0010

APU

362915466180010010

Description

This exceptional investment opportunity presents a 2,016 sq ft Wawa convenience store and gas station with a drive-thru, located at 2530 E Bay Dr, Largo, FL 33771. The property sits on a 0.91-acre lot and boasts a strong location within the Tampa/St. Pete MSA, benefiting from high daily traffic counts exceeding 60,000 vehicles on East Bay Drive. This Class A asset features a credit-rated tenant with a 9.6-year remaining lease term (expiring 06/30/2034) on an absolute NNN lease, eliminating landlord responsibilities. The lease includes six 5-year renewal options with a 7% rent increase every five years, ensuring consistent income growth. The current annual net operating income (NOI) is $145,000, representing a 5.00% capitalization rate on the $2,900,000 asking price. Built in 2023, this Wawa is the first drive-thru location in Florida, strategically positioned within a larger development including Winn-Dixie, Bank of America, and Amped Fitness, creating synergistic tenant relationships. The property's prime location and strong demographics, with over 254,000 residents within a 5-mile radius and an average household income of $85,054, contribute to its exceptional investment potential. The property's APN is 36-29-15-46618-001-0010. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with a nationally recognized brand in a rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $904,426

  6.5%

  $834,855

  7%

  $775,222

• Comparable approach

  Method

  Valuation

  Relative Method

  $877,070

  Geo Method

  $877,070

• Alternative Use

  Use

  Valuation

  Residential

  $704,231

  Hospitality

  $645,072

  Educational

  $536,692

  Medical

  $555,150

  Retail

  $834,855

Location Insight

City

Largo

County

Pinellas

State

Florida

Latitude

27.917

Longitude

-82.7609

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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