- The tenant has 17+ years remaining with 6 (5-year) options to extend
- 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 1,100+ locations
- The ground lease features scheduled rental increases throughout the initial term and each option to extend, increasing NOI and hedging against inflation
- Wawa merchandise sales per store averaged $7.1M for the year ended 2024 versus an industry average of $2.7M for 2023 (Source: NACS)
- Gasoline sales totaled 3.1 billion gallons for the year 2024, an average of 69,042 gallons sold a week per store, over two times the industry average of 32,726 per store per week in 2023 (Source: NACS)
- Wawa was ranked No. 22 in Forbes 2024 Ranking of America’s Largers
Investment Offering
West Palm Beach, FL - Wawa
8115 Southern Blvd | West Palm Beach, FL 33411
$8,977,000
Price4.4%
Cap Rate$395,000
NOI2023
Year Built5,537
± SF Offering GLA1.95
± AC Land AreaDescription
Location
- Subject property is strategically fronting Southern Blvd / US-98, a primary East/West thoroughfare serving West Palm Beach and averaging more than 84,100 vehicles passing by daily
- Wawa is directly off Florida’s Turnpike (84,000 VPD)
- The asset is positioned near The Shoppes at Southern Palms, a 230,000 SF, 25
- acre Kohl’s and Dick’s Sporting Goods anchored retail center
- Several national/credit tenants support the immediate trade area such as Dunkin’, Chick-fil-A, McDonald’s, Lowe’s, The Home Depot, and more
- This location ranks in the 77th percentile (233 out of 1,030) of all nationwide Wawa locations via Placer.ai
Documents & Links
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 Offering Memorandum |  |  |
Contact
Patrick Nutt
Sr Managing Principal & Co-Head of National Net Lease
954.302.7365954.302.7365[email protected]FL #: BK3120739