Convenience Store NNN Ground
For Sale
Contact for pricing
14650 South US Highway 441, Summerfield, FL 32495
Brand new 20-year absolute NNN lease to Wawa for a convenience store at a signalized intersection.
Property Size5,915 SF
Price / SF$696.14
Days on Market198
Property Features for 14650 South US Highway 441
General Information
Standard status
Active
Size
5,915 SF
Class
A
Total Parking Spaces
53
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$175,000
Building Details
Year Built
2026
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
CBRE - Orlando
Listed By:
Raymond Romano · License #FL 3041785
(407) 808-1657
Source:
Crexi
Added: Feb 19
Changed: Aug 23
Last Checked: Aug 31 at 3:55PM
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 CBRE - Orlando
Investment Insights
Based on property information with market context.
CBRE is pleased to exclusively present a brand new 20-year absolute NNN ground lease with Wawa, a single-tenant convenience store opportunity. The property is offered at approximately 5,915 square feet and features an absolute NNN structure with a long-term term of 20 years.
The location is described as being at a high-traffic signalized intersection just north of The Villages, within a metro area that has been highlighted in the remarks for strong growth.
This offering is positioned as part of Wawa’s planned expansion, with the seller noting the company’s disclosed intent to open as many as 280 new stores over the next decade.
The location is described as being at a high-traffic signalized intersection just north of The Villages, within a metro area that has been highlighted in the remarks for strong growth.
This offering is positioned as part of Wawa’s planned expansion, with the seller noting the company’s disclosed intent to open as many as 280 new stores over the next decade.
Key Highlights
- Year built: 2026
- Brand new 20‑year absolute NNN ground lease to Wawa
- Convenience store lease at a high‑traffic signalized intersection
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
$148,770
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
3.61%
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%
$2,975,400
$3.0M
Cap Rate 7%
$2,125,286
$2.1M
Cap Rate 9%
$1,653,000
$1.7M
Market Conditions
NOI Build-Up for 5,915 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
$219.3K $37.08/SF
− Vacancy
−$6.8K −$1.15/SF
EGI
$212.5K $35.93/SF
− OpEx
−$63.8K −$10.78/SF
NOI
$148.8K $25.15/SF
Area
Marion County, FL
Vacancy
3.10%
Lease Rate
$37.08 /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%
$2,975,400
Cap Rate 7%
$2,125,286
Cap Rate 9%
$1,653,000
Alternative Uses
Best Use
Retail
$2.13M
$1.86M – $2.48M
NOI $148,770 @ 7.0% cap · market cap 3.61%
Second Best
Specialty Retail
$1.02M
$895.8K – $1.19M
NOI $71,663 @ 7.0% cap · market cap 1.74%
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,103 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
53k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
34,708 visits/mo
0.2 miles
Dollar General
Shops & Services
8,842 visits/mo
0.5 miles
Exxon
Shops & Services
7,985 visits/mo
0.1 miles
The Tire Choice
Shops & Services
1,016 visits/mo
0.0 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Brand new 20-year absolute NNN lease to Wawa for a convenience store at a signalized intersection.
Where is this nnn property located?
The property is located at 14650 South US Highway 441 Summerfield, FL.
What is the asking price?
The asking price for this property is $4,117,650.
What are key features of this property?
This property features: Year built: 2026; Brand new 20‑year absolute NNN ground lease to Wawa; Convenience store lease at a high‑traffic signalized intersection
