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    Wawa
    $4,222,222
    Plus Vero Beach, FL
    Lease Type
    Ground
    Cap Rate
    4.50%
    Property Type

    Retail

    Building Size
    6,119 SF
    NOI
    $190,000
    Land Area
    2.36 AC
    Remaining Term
    20 Years
    Status
    Sold
    Michael Zimmerman
    Michael Zimmerman
    Founder
    Property Highlights
    New Wawa Under Construction

    This brand new Wawa is currently under construction along U.S. Highway 1 in Vero Beach, Florida. The site has full access via Old Dixie Highway and additional exposure on three main roadways. The tenant recently signed a 20-year Ground lease that requires no landlord maintenance for ease of investment. The lease has scheduled seven percent rental increases within the base term and each of the six options to extend.

    Ideal Treasure Coast Location

    Although the surrounding area is mostly zoned for industrial use, the site is located within close proximity to Vero Beach Regional Airport. This Wawa is also less than 10 miles from Disney’s popular Vero Beach Resort. Visitors to the site benefit from access to plentiful shopping opportunities thanks to the nearby presence of the Indian River Mall and the Vero Beach Outlets, Florida’s premier outlet shopping destination.

    Within Indian River County

    Relatively small in size in terms of population, Indian River County happens to be Florida’s seventh-richest county by per capita income. The average annual household income within just three miles of this Wawa site is nearly $85,000. Additionally, the area immediately surrounding the property has seen a population boom, growing an average of around 18 percent within five miles over the past decade.

    Wawa
    Vero Beach, FL
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