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Wawa

9501 Bay Pines Blvd, St. Petersburg, FL 33708

Listing Price: $5,720,000

Cap Rate
4.25%
Tenant Name
Wawa
Years Remaining On Lease
11.2
Guarantor
Corporate Guarantee
Rentable SF
5,600
Lease Type
Absolute Net
Rent Per Square Feet
$43.41

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wawa Ground Lease located at 9501 Bay Pines Boulevard, St. Petersburg, FL. The property consists of roughly 5,600 rentable square feet of building space on an estimated 1.69-acre parcel of land. Wawa is subject to an original 20-year Absolute Triple-Net (NNN). The current rent is $221,000 and increases 10% every 5 years starting in year 11 (2023). There are six (6), five (5)-year tenant renewal options, extending the total possible lease term to 50 years.

Investment Highlights

  • Original 20-Year Absolute Triple-Net (NNN) Ground Lease | 11+ Years Remaining
  • Six (6), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 50 Years
  • 10% Rental Increases Every Five (5) Years Beginning Year 11 (2023)

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Auto Service - Gas-Conv

Wawa

Listing Price: $5,720,000

Cap Rate
4.25%
Tenant Name
Wawa
Years Remaining On Lease
11.2
Guarantor
Corporate Guarantee
Rentable SF
5,600
Lease Type
Absolute Net
Rent Per Square Feet
$43.41

Investment Highlights

  • Original 20-Year Absolute Triple-Net (NNN) Ground Lease | 11+ Years Remaining
  • Six (6), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 50 Years
  • 10% Rental Increases Every Five (5) Years Beginning Year 11 (2023)

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wawa Ground Lease located at 9501 Bay Pines Boulevard, St. Petersburg, FL. The property consists of roughly 5,600 rentable square feet of building space on an estimated 1.69-acre parcel of land. Wawa is subject to an original 20-year Absolute Triple-Net (NNN). The current rent is $221,000 and increases 10% every 5 years starting in year 11 (2023). There are six (6), five (5)-year tenant renewal options, extending the total possible lease term to 50 years.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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