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Wawa - Tallahassee FL (Old St Augustine) 1801 Capital Cir SE 6,119 SF Retail Building Tallahassee, FL 32301 $4,111,000 ($671.84/SF) 4.50% Cap Rate
Investment Highlights
- Brand New 20-Year Lease | Scheduled Rental Increases | Options to Extend | Established Brand and C-Store Operator
- Signalized, Four-Way Intersection | West Noble Ave (18,300 VPD) |Wawa - Strong Earnings Report and Continued Growth
- Strong Demographics in 5-mile Trade Area
- Absolute NNN Ground Lease | Land Ownership | No Landlord Responsibilities
- Capital Circle Infrastructure Improvements | Strong Development Pipeline
Executive Summary
• The lease is guaranteed by Wawa Inc., an investment grade (Fitch: BBB), nationally recognized, and an established convenience store and gas brand with over 1,260 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 7% rental increases every 5 years starting in lease year 11 and at the beginning of each option period
• Wawa was ranked No. 21 in Forbes 2025 Ranking of America’s largest private companies
• The company is currently in the midst of its “largest expansion ever,” aiming to reach 1,800 stores by 2030
• 2026 construction with high quality materials and distinct design elements
• Large 2.97-acre parcel
• 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 7% rental increases every 5 years starting in lease year 11 and at the beginning of each option period
• Wawa was ranked No. 21 in Forbes 2025 Ranking of America’s largest private companies
• The company is currently in the midst of its “largest expansion ever,” aiming to reach 1,800 stores by 2030
• 2026 construction with high quality materials and distinct design elements
• Large 2.97-acre parcel
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Building Size
6,119 SF
Year Built
2026
Price
$4,111,000
Price Per SF
$671.84
Cap Rate
4.50%
NOI
$185,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
2.97 AC
Zoning
C-2 - General Commercial
Parking
44 Spaces (7.19 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Pylon Sign
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
30/100
Nearby Major Retailers
1 of 11
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