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Wawa Lake City 1518 U.S. Highway 90 5,915 SF Retail Building Lake City, FL 32055 $6,105,000 ($1,032.12/SF) 4.75% Cap Rate
Investment Highlights
- Brand New 20-Year lease with Wawa
- Absolute NNN ground lease – No landlord management obligations
- Large 5.16-acre parcel with 80 parking spaces
- Corporate guaranty from Wawa, Inc. – Investment grade credit with a Fitch rating of ‘BBB’
- Hard corner signalized intersection with excellent visibility & access
- Florida has NO STATE INCOME TAX
Executive Summary
CBRE is pleased to exclusively present a brand new 20 year absolute NNN ground lease with Wawa, one of the most highly sought after single tenant net lease tenants. The 5,919 SF building sits on a 5.16 acre parcel at a high traffic, signalized hard corner intersection in Lake City, FL with exceptional visibility and access. The new 20 year absolute NNN lease includes fixed rental increases throughout the term and provides truly hands off ownership with no landlord
obligations.
The site is located directly on U.S. Highway 90 which generates substantial daily traffic and demand. Additionally, the asset benefits from proximity to I-75, which brings strong daily traffic counts, excellent regional connectivity, and consistent commuter exposure. This prime highway access enhances visibility, supports steady customer flow, and provides convenient ingress and egress for both local residents and through-travelers, making the location ideal for high-volume retail operations such as Wawa. The location is further enhanced by its access to the junction of Interstate 10 (I-10) and I-75, one of the region’s primary transportation corridors which provides exceptional east–west and north–south connectivity.
obligations.
The site is located directly on U.S. Highway 90 which generates substantial daily traffic and demand. Additionally, the asset benefits from proximity to I-75, which brings strong daily traffic counts, excellent regional connectivity, and consistent commuter exposure. This prime highway access enhances visibility, supports steady customer flow, and provides convenient ingress and egress for both local residents and through-travelers, making the location ideal for high-volume retail operations such as Wawa. The location is further enhanced by its access to the junction of Interstate 10 (I-10) and I-75, one of the region’s primary transportation corridors which provides exceptional east–west and north–south connectivity.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,915 SF
Building Class
C
Year Built
2026
Construction Status
Under Construction
Price
$6,105,000
Price Per SF
$1,032.12
Cap Rate
4.75%
NOI
$290,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
5.16 AC
Zoning
CI - Commercial Intensive
Parking
80 Spaces (13.52 Spaces per 1,000 SF Leased)
Frontage
363’ on West US Highway 90
Amenities
- Signalized Intersection
- Monument Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 31-3S-17-06185-000 | Improvements Assessment | $0 |
| Land Assessment | $711,989 | Total Assessment | $711,989 |
Property Taxes
Parcel Number
31-3S-17-06185-000
Land Assessment
$711,989
Improvements Assessment
$0
Total Assessment
$711,989
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Wawa Lake City | 1518 U.S. Highway 90
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