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DOM: 1 Updated: 05.06.23 Posted: 03.29.23 Status: Sold     03.31.23

Summary

Price $3,976,000 $3,976,000
Built/Renov 2023
Tenant Circle K (GL)
Cap Rate 4.15% 4.15%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,200
Lease Start 01-01-2023
#Units 15,000
Price/SF $764.62 $764.62
Expiration 01-01-2043
Tenant Type Convenience/Gas
NOI $165,000
R. Term 17.6
Ownership Ground Lease
Rent/SF $31.73
Increases 5.0%/5/yrs
Pop 5Mi 140,717
Lot/AC 2.81
Options 6/5yrs/5%
AHHI 5Mi $92,293

Highlights

  • New 2023 construction
  • Circle K recently signed a brand-new 20-year lease with 6 (5-year) options to extend
  • Lease features 5% rental increases throughout the initial term and at each option period
  • Absolute NNN ground lease with zero landlord responsibilities
  • Corporate guarantee by Alimentation Couche-Tard (TSE: ATD)
  • Circle K is an investment grade tenant (S&P: BBB)

Location Description

This Circle K is located at the signalized, hard corner intersection of Veronica South Shoemaker Boulevard and Winkler Avenue seeing over 35,000 vehicles per day. The asset is located less than 2 miles from Edison Mall (1,000,000+ SF) with anchor tenants such as Dillard’s, Macy’s, JCPenney, and more. Other national/credit tenants in the area include Walmart Supercenter, Lowe’s, Publix,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Circle K (GL)
  • 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 quality...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 12,545 70,297 151,382
2023 Total Population : 11,398 67,257 145,251
2023 Employed Civilian Pop : 4,802 27,913 62,006
2023 Total Businesses : 461 5,214 10,809
2023 Average Household Income : $ 72,289 $ 81,954 $ 91,778
2023 Total Consumer Spending : $ 313 M $ 2001 M $ 5019 M
2023 Median Age : 32 38 43
2023 Total Households : 4,908 27,838 62,673
2023 Pop Age 25+: Bachelor's Degree : 1,601 9,513 21,168
2023 Average Home Value : $ 334,130 $ 340,892 $ 367,857
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Winkler Avenue Wilmont Pl 2021 24,000 0.35 mi
Palmetto Ave Executive Cir 2001 800 0.39 mi
Colonial Boulevard Colonial Blvd 2021 60,500 0.48 mi
Winkler Ave Ford St 2001 14,900 0.48 mi
Ford St Kernel Cir 2001 1,400 0.53 mi
Metro Pky Winkler Ave 2005 24,500 0.66 mi
Metro Parkway Castilla Cir 2021 21,500 0.67 mi
Colonial Blvd Ford St 2005 63,000 0.67 mi
Metro Parkway Pine Oak Cir 2021 21,500 0.69 mi
Winkler Ave Center Point Dr 2001 19,500 0.75 mi

Listing Broker

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