Winter Garden Convenience Store with
For Sale
Contact for pricing
Pending
13501 W Colonial Dr, Winter Garden, FL 34787
Single-tenant Wawa with long-term lease in Winter Garden, Florida.
Property Size13,919 SF
Lot Size2.06 Acres
Days on Market201
Property Features for 13501 W Colonial Dr
General Information
Standard status
Pending
Size
13,919 SF
Lot size
2.06 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$214,000
Building Details
Tenancy
Single
Listing Agency:
Nova Real Estate Services, Inc
(720) 980-0124
Listed By:
Fernanda Negromonte · License #BK3380709
Source:
Crexi
Added: Feb 9
Changed: Aug 13
Last Checked: Aug 29 at 7:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nova Real Estate Services, Inc
Investment Insights
Based on property information with market context.
This property features a 13,919 square foot free-standing convenience store with fuel, situated on approximately 89,564 square feet (approximately 2.06 acres). Located at the signalized hard corner of SR 50 and S. Dillard Street in Winter Garden, Florida, the property is secured by a long-term Absolute NNN ground lease with approximately 10.9 years remaining in the primary term. The lease includes six five-year extension options and scheduled rent escalations of approximately 7% every five years. The lease is corporately guaranteed by Wawa Florida, LLC.
Key Highlights
- Long‑term Absolute NNN ground lease with approximately ±10.9 years remaining
- Corporately guaranteed by Wawa Florida, LLC
- Located at a signalized hard corner of SR 50 and S. Dillard Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$273,325
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,466,500
$5.5M
Cap Rate 7%
$3,904,643
$3.9M
Cap Rate 9%
$3,036,944
$3.0M
Market Conditions
NOI Build-Up for 13,919 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$404.2K $29.04/SF
− Vacancy
−$13.7K −$0.99/SF
EGI
$390.5K $28.05/SF
− OpEx
−$117.1K −$8.42/SF
NOI
$273.3K $19.64/SF
Area
Orange County, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,466,500
Cap Rate 7%
$3,904,643
Cap Rate 9%
$3,036,944
Alternative Uses
Best Use
Retail
$3.90M
$3.42M – $4.56M
NOI $273,325 @ 7.0% cap · market cap 4.97%
Second Best
Specialty Retail
$3.83M
$3.36M – $4.47M
NOI $268,441 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$3.96M
$3.47M – $4.62M
NOI $277,266 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,246
Businesses Nearby
526k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 33%
Groceries 21%
Superstores 4%
Wawa
Shops & Services
59,587 visits/mo
0.1 miles
Publix
Groceries
52,759 visits/mo
0.3 miles
Dollar Tree
Shops & Services
36,394 visits/mo
0.4 miles
Burger King
Dining
35,499 visits/mo
0.1 miles
Culver's
Dining
33,071 visits/mo
0.1 miles
Demographics for 34787, FL
88,636
Population
33,141
Households
2.7
Avg Household Size
36
Median Age
49%
College-Educated
94%
High-School Grad
67.3 sq mi
ZIP Area
1,317
Density / Sq Mi
$114,988
Median Household Income
$53,995
Median Earnings
$1,994
Median Rent
$475,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Single-tenant Wawa with long-term lease in Winter Garden, Florida.
Where is this grocery and convenience store located?
The property is located at 13501 W Colonial Dr Winter Garden, FL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Long‑term Absolute NNN ground lease with approximately ±10.9 years remaining; Corporately guaranteed by Wawa Florida, LLC; Located at a **signalized hard corner** of SR 50 and S. Dillard Street
