Available For Sale - Retail

6,141 SF | Show Pricing $

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LISTED BY

Barry Wolfe
Wolfe-Lipsky Retail Group of Marcus & Millichap, 954-245-3493
Ashley Anaya
Wolfe-Lipsky Retail Group of Marcus & Millichap,

AVAILABILITY DETAILS

Size
6,141 SF
Price/SF
Show Pricing $
Listing ID
SA416110
Notes
INVESTMENT OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Wawa, currently under construction in Hialeah, 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. This Wawa is a gas station and convenience store with corporately guaranteed lease by Wawa, Inc. Brand New Location Under Construction; Tenant Will Commence Paying Rent in March 2021.

The subject property is part of a new, mixed-use development that includes a 260-unit apartment community and retail, scheduled for completion in 2021. This new Wawa is one mile from Westland Mall, with other surrounding national retailers including Walmart Supercenter, Home Depot, Staples, Lowe’s, Target, Best Buy, LA Fitness, BJ’s Wholesale, Dollar General, T-Mobile, Tire Kingdom, Applebee’s, Arby’s, McDonald’s, Burger King and many more.

The demographics and traffic counts in the immediate area are strong, with the population over 400,000 within a five-mile radius of the property. The subject property is located at the signalized intersection of West 16th Avenue, West 29th Street and Okeechobee Road, with a combined traffic count of more than 87,000 vehicles. This Wawa is also within close proximity to Palmetto Expressway which is a major roadway that runs through Hialeah and Miami and has a traffic count of more than 275,000 vehicles.

The subject property is one mile from Miami Dade College Hialeah campus, and six miles from Miami International Airport, the third busiest airport in America for international passengers and is the top U.S. airport for international freight. The city of Hialeah is the sixth largest municipality in Florida, and it serves over 224,000 residents. Hialeah is part of the Miami Metropolitan Statistical Area with a population of more than 2.7 million.
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