Circle K (GL)

803 North Main Street, Chiefland, FL 32626

$2,000,000

Cap Rate 4.70%

$2,265,000

Cap Rate 4.15%

DOM: 54 Updated: 05.06.23 Posted: 12.22.22 Status: Sold 02.14.23

Summary

Price $2,000,000 $2,265,000	Built/Renov 2022	Tenant Circle K (GL)
Cap Rate 4.70% 4.15%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 5,187	Lease Start 04-01-2022	#Units 15,000
Price/SF $385.58 $436.67	Expiration 04-01-2037	Tenant Type Convenience/Gas
NOI $94,000	R. Term 11.9	Ownership Ground Lease
Rent/SF $18.12	Increases 5.0%/11/yrs	Pop 5Mi 7,479
Lot/AC 4.25	Options 7/5yrs/5%	AHHI 5Mi $46,645

Patrick Nutt

SRS National Net Lease Group

Contact

Highlights

New Construction 2022
Brand new 15-year ground lease with 7 (5-year) options to extend
The ground lease features 5% rental increases every 5 years beginning in March 2032
Absolute NNN with zero landlord responsibilities
The lease is guaranteed by Alimentation Couche-Tard Inc., (TSX: ATD) (S&P: BBB) with over 15,000 units backed

Location Description

This newly constructed Circle K is strategically located at the signalized, hard corner intersection of N. Main Street and N. Young Boulevard with a combined 26,200 vehicles per day. N. Young Boulevard is the primary thoroughfare serving Chiefland and the immediate trade area with nearby national/credit tenants including Walmart Supercenter, Tractor Supply Co., Save A Lot, Winn-Dixie,...

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Key Features

New construction
Signalized intersection
Hard corner intersection
Major thoroughfare
Income tax free state
Brand new lease
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Circle K Wikipedia Circle K Wikipedia Chiefland, Florida Zip Code 32626 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:15,000
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...

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Demographics

	1 Miles	3 Miles	5 Miles
2027 Total Population :	1,699	3,609	6,688
2022 Total Population :	1,727	3,672	6,732
2022 Employed Civilian Pop :	761	1,477	2,691
2022 Total Businesses :	241	375	442
2022 Average Household Income :	$ 57,128	$ 55,912	$ 53,966
2022 Total Consumer Spending :	$ 34 M	$ 75 M	$ 130 M
2022 Median Age :	37	42	46
2022 Total Households :	685	1,522	2,750
2022 Pop Age 25+: Bachelor's Degree :	81	203	408
2022 Average Home Value :	$ 225,066	$ 212,116	$ 181,934

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
US 31	Hwy 19	2020	5,300	0.02 mi
Young Boulevard		2020	15,000	0.13 mi
Main Street	NE 5th Ave	2020	9,400	0.23 mi
Young Boulevard	NW 5th St	2019	14,200	0.48 mi
Young Boulevard	NE 8th St	2019	6,200	0.59 mi
Main Street	S Main St	2020	6,200	0.68 mi
Southeast 4th Avenue	Hwy 345	2020	2,000	0.80 mi
Southeast 4th Avenue	SE 2nd St	2019	1,800	0.80 mi
Southeast 4th Avenue	Hwy 345	2018	1,600	0.82 mi
Southwest 4th Avenue	Hardee	2020	3,900	0.84 mi

Listing Broker

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