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

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