5735 Philips Hwy
Jacksonville, FL 32216
WAWA Jacksonville · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- #1 RANKED WAWA IN JACKSONVILLE
- PROMINENT RETAIL LOCATION WITH OVER 1.2M SF OF RETAIL
- LOCATED ON US HWY 1
- ATTRACTIVE RENT INCREASES
- LARGE FORMAT WAWA OPEN 24HRS WITH TESLA SUPERCHARGERS
EXECUTIVE SUMMARY
The subject property is a 5,735 square-foot Wawa convenience store with gas-station (16 fueling stations and 12 Tesla Superchargers) located in Jacksonville, Florida. Jacksonville, which is part of the Jacksonville Metro Area, is the largest city by population in Florida with over 1,330,000 residents. Wawa signed a 20-year lease, which commenced in November 2019, leaving approximately 15.50 years remaining on the tenant’s initial lease term. The lease features extremely attractive 5% rent increases every 5 years throughout the remaining primary term, and between each of the six, five-year renewal options. The Tenant operates under a highly passive absolutely NNN ground lease with zero landlord responsibilities for operating or capital expenses.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
6,119 SF
Building Class
B
Year Built
2020
Price
$5,263,157
Price Per SF
$860.13
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.95 AC
Zoning
PUD
Parking
9.15 Spaces per 1,000 SF Leased
AMENITIES
- Corner Lot
- Freeway Visibility
- Signage
PROPERTY TAXES
| Parcel Number | 152997-0010 | Improvements Assessment | $10,182,025 |
| Land Assessment | $1,279,575 | Total Assessment | $11,461,600 |
