Largo, FL - Wawa Drive Thru

2530 E. Bay Drive, Largo, FL

$2,990,000

Price

4.85%

Cap Rate

$145,000

NOI

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Street
Map
Overview
Cap Rate
4.85%
NOI
$145,000
Building Size
2,016 sqft
Lot Area
0.91 acres
Description

• Brand new 10-year ground lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease is corporate guaranteed by Wawa, Inc., an investment grade
(Fitch: BBB), nationally recognized, and an established convenience store
and gas brand with over 950+ locations
• The ground lease features 7% rental increases every 5 years and at the beginning of each option, increasing NOI and hedging against inflation
• Forbes.com Ranks Wawa as #24 of America’s Largest Private Companies in 2021 and #12 on Forbes 100 Halo List in 2022

• Wawa is strategically fronting East Bay Drive averaging 60,500 VPD
• The site is part of a larger development that features a Winn-Dixie, Bank of America, Amped Fitness, and more
• East Bay Drive is a primary retail thoroughfare serving the city of Largo with surrounding national/credit tenants such as Publix, Ross, Walmart Supercenter, and more
• Strong tenant synergy increases consumer draw to the immediate trade area

This listing was syndicated through:

Listing ID: a288X000002lzHfQAI
Location
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