1495 Capital NW Cir Tallahassee, FL 32303-1113

Property Details for 1495 Capital NW Cir

Year built

1983

Lot size

2.37 lot acres

Property size

2,040 SF

Property type

Commercial land

APN

21-20-20-628-000-0

APU

2120206280000

Description

This exceptional investment opportunity presents a brand-new, 5,943 square foot Wawa convenience store and gas station located at 1495 Capital Cir NW, Tallahassee, FL 32303. Boasting a prime location on a signalized, hard corner intersection with high visibility and traffic counts (44,800 VPD combined), this property benefits from its proximity to I-10 (59,000 VPD) and Tennessee St (31,700 VPD). The 2.39-acre lot features a 20-year absolute NNN lease commencing October 27, 2024, and expiring October 31, 2044, with 7% rent bumps every five years beginning in year 11. The property offers a strong NOI of $270,000 and a 4.50% cap rate, representing a compelling return on investment. This is Wawa's first Tallahassee location, situated within a high-growth metropolitan area with a robust demographic profile. The 5-mile trade area boasts over 115,000 residents and 70,000 employees, with an average household income of $62,746. The property's strategic location within a strong industrial corridor and near Capital West Shopping Center (ranking in the 88th percentile nationally) further enhances its appeal. Built in 2024, the property showcases high-quality materials and finishes. The lease includes six 5-year options, and the property is offered as a leased fee with a ground lease in place. This is a rare opportunity to acquire a high-performing asset in a rapidly expanding market. The asking price is $6,000,000.