Circle K

226 Georgia Avenue, North Augusta, SC 29841

$1,747,000

Cap Rate 6.50%

$1,907,896

Cap Rate 5.95%

DOM: 49 Updated: 05.18.23 Posted: 12.07.22 Status: Sold 01.25.23

Summary

Price $1,747,000 $1,907,896	Built/Renov 1986/2005	Tenant Circle K
Cap Rate 6.50% 5.95%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,269	Lease Start 12-20-2007	#Units 14,200
Price/SF $769.94 $840.85	Expiration 12-31-2028	Tenant Type Convenience/Gas
NOI $113,520	R. Term 3.6	Ownership Fee Simple
Rent/SF $50.03	Increases 1.5%/1/yrs	Pop 5Mi 98,489
Lot/AC 0.83	Options 5/5yrs/1.5%	AHHI 5Mi $71,916

Highlights

Circle K’s absolute NNN lease features 6 years of term remaining with 1.5% annual rent increases throughout the primary term and in each of the first five (5-year) options
Fair market value rent in the last two (10-year) options
Lease is corporately guaranteed by Alimentation Couche-Tard Inc. (S&P: BBB)

Location Description

Positioned 1 mile north of downtown Augusta, Circle K is located with excellent access and visibility on a hard corner at the intersection of Georgia Avenue (19,800 VPD) and Clifton Avenue (3,300 VPD), which intersects 0.1 miles north with Buena Vista Avenue (6,100 VPD). Retailers with a presence in the immediate vicinity include Walmart Supercenter, Lowe’s Home Improvement, Belk, Lidl,...

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Key Features

Hard corner intersection
Dense retail corridor
Near major nationals
Strong tenant synergy
Top 100 MSA
Absolute NNN
Annual rent increases
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Circle K Wikipedia Circle K Wikipedia North Augusta, South Carolina Zip Code 29841 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Circle K
Guarantor:Corp T and Rated
Company:Alimentation Couche-Tard
# Units:14,200
Tenant S&P: BBB
Moody’s: Baa2
Stock:TSE: ATD

About Tenant

Circle K Stores, Inc. is an international chain of convenience stores, Founded in 1951, Circle K has become one of the most widely recognized convenience store brands, known worldwide for quality...

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Demographics

	1 Miles	3 Miles	5 Miles
2027 Total Population :	5,515	48,950	98,839
2022 Total Population :	5,608	48,169	98,489
2022 Employed Civilian Pop :	2,863	20,496	43,781
2022 Total Businesses :	506	2,658	4,510
2022 Average Household Income :	$ 77,879	$ 66,479	$ 71,916
2022 Total Consumer Spending :	$ 197 M	$ 1233 M	$ 2731 M
2022 Median Age :	41	40	39
2022 Total Households :	2,917	21,336	43,641
2022 Pop Age 25+: Bachelor's Degree :	933	6,628	12,928
2022 Average Home Value :	$ 376,805	$ 242,272	$ 230,208

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Ave	W Main St	2019	4,500	0.09 mi
E Buena Vista Ave	Victoria Ln	2010	8,600	0.22 mi
West Ave	W Pine Grove Ave	2008	6,200	0.26 mi
Georgia Ave	W Railroad Ave	2008	18,700	0.33 mi
W Buena Vista Ave	Crystal Lake Dr	2019	3,600	0.37 mi
Georgia Avenue	E Spring Grove Ave	2019	18,300	0.37 mi
West Avenue	Jackson Ave	2019	6,600	0.41 mi
Cumberland Avenue	W Spring Grove Ave	2019	100	0.42 mi
Jackson Ave	West Aly	2019	800	0.44 mi
East Buena Vista Avenue	Riverside Blvd	2019	7,500	0.46 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
31810 Views
80 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
31174 Views
77 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
32060 Views
79 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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