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Wawa 3743 Reid St

6,119 SF Retail Building Palatka, FL 32177 $7,104,387 CAD ($1,161 CAD/SF) 4.75% Cap Rate

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Investment Highlights

Brand New Construction
Absolute NNN Ground Lease

Signalized, Hard Corner Intersection
Local Demographics 5 Mile Trade Area

Executive Summary

• 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 1,040+ locations
• Brand new 20-year ground lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site
• The ground lease features 5% rental increases every 5 years starting in lease year 11 and at the beginning of each option period
• There are 1,044 Wawa stores in the United States as of January 9, 2024

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