A Belleview property containing an extremely busy and successful minimart is on the market for just under $4.07 million.
SRS National Net Lease Group is listing the parcel at 5726 SE Abshier Blvd. that is home to one of the many new Wawa convenience stores in the Central Florida area. Wawa Inc. recently signed a corporate-guaranteed 20-year ground lease on the property, with six five-year options to extend.
The triple net lease agreement with the company calls for Wawa to pay all the expenses of the property including common-area maintenance, real estate taxes and insurance on the 6,119-square-foot building.
The long-term lease with Wawa also features eight percent rental increases every five years beginning in year 11 and at the start of each option period. It also is listed as an “ideal, management-free investment for an out-of-state, passive investor.”
The Belleview Wawa celebrated its grand opening in September 2019. The state-of-the-art store features 16 gas pumps and is located at the intersection of Abshier Boulevard and County Road 484, where more than 42,800 vehicles pass by on a daily basis. Nearby businesses include Publix, Winn-Dixie, Starbucks, CVS, Subway, McDonald’s, Burger King and Dunkin’ Donuts, to name just a few.
The listing also states that more than 53,700 residents and 10,000 employees support the trade area where the Wawa is located. The average household income in the area is $60,300, the listing says.
SRS National Net Lease Group recently posted a similar listing for the property containing a new Wawa at 1001 S Pine Ave. in Ocala. That minimart is just four miles from Interstate 75 and is located in a five-mile trade area that includes a population of about 94,000 residents and an average household income of close to $65,000.
In the past year, Wawa has flooded the Central Florida market. In addition to the two stores listed above, the chain opened new locations in Ocala at 3601 East Silver Springs Blvd., 3312 W. Silver Springs Blvd. and 4025 SW College Rd. Those openings followed groundbreaking ceremonies in September 2018 that were heavily attended by Ocala and Marion County officials.
Further south, Wawa has opened stores in Oxford at the corner of U.S. 301 and County Road 466, at the corner of U.S. Hwy. 27/441 and County Road 466 and at 13535 U.S. Hwy. 27/441 in Lady Lake, not far from the Sharon L. Morse Medical Building and the soon-to-be UF Health The Villages Hospital.
Another store in Leesburg, at the corner of U.S. Hwy. 27/441 and Griffin Road where a Citizens First Bank branch and a Sonny’s BBQ used to be located, is nearing completion and is expected to open in the near future.
In late December, Wawa announced that a large-scale data breach had compromised the payment information of customers who used a debit or credit card at any of its more than 850 locations since March. Company officials sent letters to customers saying they discovered malware that was capable of capturing customers names, card numbers and expiration dates at both the inside pay stations and the gas pumps. They said the breach has been in place since March 4 but did not affect debit card PINs, credit card security codes or driver’s license information that was obtained when verifying age-restricted purchases like alcohol.
Wawa is a privately held company that began in 1803 as an iron foundry in New Jersey. Toward the end of the 19th Century, owner George Wood took an interest in dairy farming and the family began a small processing plant in Wawa, Pa., in 1902. The milk business was a huge success, due to its quality, cleanliness and “certified” process. As home delivery of milk declined in the early 1960s, Grahame Wood, George’s grandson, opened the first Wawa Food Market in 1964 as an outlet for dairy products. Wawa adopted the Canada goose in flight as its mascot.