5735 Philips Hwy Jacksonville, FL 32216-5912

Property Details for 5735 Philips Hwy

Year built

2020

Construction

STEEL FRAME

Lot size

1.95 lot acres

Property size

5,967 SF

Zone code

PUD

Property type

Grocery and convenience stores

APN

152997-0020

APU

1529970020

Description

This exceptional investment opportunity presents a prime retail property featuring a Wawa convenience store and gas station in Jacksonville, Florida. The property boasts a 5,967 square-foot building on a 1.95-acre lot, constructed in 2020. It benefits from a highly favorable Absolute NNN ground lease with Wawa, a financially strong tenant (BBB investment grade rating by Finch), with approximately 15 years remaining on the 20-year lease term. The lease includes attractive 5% rent increases every five years, providing a hedge against inflation. This "Super Wawa" format location includes 16 fueling stations and 12 Tesla Superchargers, operating 24 hours a day. Its strategic location at a signalized intersection on Philips Highway (US-1) and Bowden Road, with over 51,000 vehicles daily, offers exceptional visibility and accessibility. The property enjoys direct access to I-95, a major north-south interstate, and is situated within a densely populated area with strong growth, boasting over 68,000 residents within a three-mile radius and over 172,000 within five miles. The surrounding area includes numerous other retail establishments, creating a robust commercial environment. This top-performing Wawa, ranked #1 in Jacksonville and within the top percentiles nationally, presents a compelling investment opportunity with a 4.75% cap rate and a $5,263,157 asking price. Jacksonville's significant development pipeline, including projects like 1 Riverside and the Four Seasons hotel, further enhances the long-term value of this property. The property's strong tenant, long lease term, and prime location make it an attractive investment for discerning buyers.