2425 Highway 484 Ocala, FL 34473

Property Details for 2425 Highway 484

Year built

2024

Lot size

2.46 lot acres

Property type

Retail properties & Spaces

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a brand-new, 6,119-square-foot Wawa convenience store and gas station located at a prime, signalized hard corner intersection off I-75 in Ocala, Florida. The property boasts a 20.1-year absolute NNN lease commencing June 1, 2024, and expiring June 30, 2044, with a substantial remaining term of 19.6 years. The lease includes rent bumps of 5% every five years beginning in year 11, ensuring consistent income growth. The property sits on a 2.46-acre lot and benefits from its strategic location adjacent to a large, 4,000,000-square-foot industrial complex (with 1,000,000 square feet already completed), providing significant traffic and customer volume. The high-traffic location, directly off I-75 (104,500 vehicles per day), offers convenient access for travelers. Neighboring businesses include a McDonald's (top 98% of US locations), a Pilot Travel Center (top 87% nationally), and a Burger King (top 83% nationally), indicating a strong retail environment. The property generates a Net Operating Income (NOI) of $195,000, resulting in a 4.50% cap rate. The asking price is $4,333,000. The strong tenant (Wawa), long-term lease, and prime location make this a compelling investment with significant upside potential. The 5-mile trade area boasts a growing population of over 44,000 residents and 3,000 employees, with an average household income of $87,383. Ocala's population has increased by 5.28% since the last census, and the city experiences annual growth of 1.27%. The property's APN is 41200-060-02. The lease includes six 5-year options.

Location Insight

City

Ocala

County

Marion

State

Florida

Longitude

-82.1645

Latitude

29.026