Current Use by Public Records
- BLOCKBUSTER / Electronics & Wireless Store / (Bike/Boat/Book/etc) Store
- Kritter Sitters Services / Kennel & Boarding Facility
- Apex Air Duct Cleaning Hollywood / HVAC Service / General Contractor
Property Details for 1891 Federal Hwy
- Year built
- 2023
- Lot size
- 1.37 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 5,636 square foot Wawa convenience store and gas station located at a signalized, hard corner intersection on US-1/N. Federal Highway in Hollywood, Florida. The property sits on a 1.37-acre lot and boasts a new 2023 construction. The absolute NNN lease with Wawa, Inc., a credit-rated tenant (Fitch: BBB), features a remaining term of 17.7 years with six 5-year options to extend, ensuring long-term stability. The lease commenced July 17, 2022, and expires July 31, 2042. The current annual net operating income (NOI) is $365,000, representing a 4.51% cap rate on the $8,100,000 asking price. Rent increases are built into the lease, with an 8% increase every five years beginning in lease year 11, and 10% increases at the beginning of each option period. The property's strategic location near Interstate 95 and South Broward High School (2,300+ students) ensures high traffic and visibility. This investment offers a compelling combination of a strong tenant, long-term lease, and prime location in a high-growth area. The property's APN is 51-42-10-54-0010. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant upside potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hollywood
- County
- Broward
- State
- Florida
- Longitude
- -80.1431
- Latitude
- 26.028
