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Available For Sale - Retail

6,119 SF | Show Pricing $

AVAILABILITY DETAILS

Size
6,119 SF
Price/SF
Show Pricing $
Listing ID
SA427150
Notes
Investment Overview



Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Wawa, currently under construction in Miami, Florida. This Wawa offers a new, 20-year, triple net ground lease. The lease features six, five-year renewal options with eight percent rent increases every five years beginning year 11. The lease is corporately guaranteed by Wawa, Inc. This is a brand-new location and opened on June 25, 2020.



The demographics in the immediate area are very strong, with the population over 500,000 within a five-mile radius of the property. The subject property is located at the signalized intersection of 167th Street and 6th Avenue with a combined daily traffic count of 89,000 vehicles. Surrounding national retailers in the area include Walmart Supercenter, Home Depot, Publix, Aldi, Rent-A-Center, Krispy Kreme, Taco Bell, McDonald’s, Popeyes, Dunkin’ Donuts, Starbucks, Bank of America, Chase Bank, Advance Auto Parts, Pep Boys, Walgreens, CVS and many more.



The subject property is within close proximity to Interstate 95 which has a daily traffic count of 178,000 vehicles. This Wawa is one mile from Jackson North Medical Center, a 382-bed acute care center serving North Miami-Dade and South Broward counties. It is also four miles from Hard Rock Stadium, home to NFL’S Miami Dolphins, and recently hosted the Super Bowl LIV. Miami is the most populous city in Miami-Dade County with slightly more than 443,000 residents. The Miami metro area has a population of roughly 2.7 million people.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Barry Wolfe, Wolfe-Lipsky Retail Group of Marcus & Millichap