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Views: 0 DOM: 73 Updated: 11.28.23 Posted: 09.29.23 Status: Active

Summary

Price $2,209,000
Built/Renov 2023
Tenant Circle K (GL)
Cap Rate 4.40%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,200
Lease Start 10-01-2023
#Units 14,332
Price/SF $424.81
Expiration 10-01-2038
Tenant Type Convenience/Gas
NOI $97,200
R. Term 14.9
Ownership Ground Lease
Rent/SF $18.69
Increases 5.0%/5/yrs
Pop 5Mi 40,113
Lot/AC 1.58
Options 8/5yrs/5%
AHHI 5Mi $90,005

Lease Highlights

  • Brand-new construction with high-quality materials and distinct Circle K design elements
  • Tenant will sign a brand-new 15-year lease with 8 (5-year) options to extend
  • Lease features 5% rental increases every 5 years and at the beginning of each option period
  • Absolute NNN ground lease | Zero landlord responsibilities
  • Corporate guaranteed lease
  • Income tax free state

Location Description

Circle K is situated on the northwest corner of Highway 85 N & Old Bethel Rd, with a traffic count of 3100 vehicles. It shares the same intersection with a newly constructed Publix-anchored shopping center, which encourages cross-traffic without any Publix-related use restrictions. The Publix Supermarket at this location is ranked as the top grocer within a 15-mile radius and is in the 87th...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Circle K
  • Guarantor:Corp T and Rated
  • Company:Circle K Stores Inc.
  • # Units:14,332
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock:TSE: ATD

About Tenant

Circle K Stores, Inc. is an international chain of convenience stores, and the largest independent convenience store operator in the U.S. in terms of the number of company-operated stores. Founded...


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