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Views: 85 DOM: 268 Updated: 04.26.24 Posted: 08.22.23 Status: Active

Summary

Price $5,007,875
Built/Renov 2023
Tenant Circle K
Cap Rate 6.35%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,600
Lease Start 02-01-2024
#Units 200
Price/SF $1,391.08
Expiration 01-31-2044
Tenant Type Convenience/Gas
NOI $318,000
R. Term 19.8
Ownership Fee Simple
Rent/SF $88.33
Increases 1.5%/1/yrs
Pop 5Mi 157,639
Lot/AC 1.52
Options 4/5yrs/1.5%
AHHI 5Mi $65,630

Lease Highlights

  • Brand-new construction | Opening Q4 of 2023
  • Circle K to sign a new 20-year lease with 4 (5-year) options to extend upon close of escrow
  • Lease features rental increases of 1.5% annually
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Gas Express, LLC (200+ units)
  • Circle K is an investment grade tenant (S&P: BBB)

Location Description

This newly constructed Circle K is strategically located at the signalized, hard corner intersection of Crestview Avenue and Federal Drive which sees a combined 24,828 vehicles passing by daily. The property is located on a large ±1.52-acre parcel with multiple points of ingress and egress and features a large fueling station with 6 MPDs/12 hoses. The site is positioned in a dense residential...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,570 48,527 109,922
2023 Total Population : 7,702 49,298 112,050
2023 Employed Civilian Pop : 2,701 19,755 48,149
2023 Total Businesses : 162 3,126 5,890
2023 Average Household Income : $ 54,483 $ 62,246 $ 66,892
2023 Total Consumer Spending : $ 149 M $ 1075 M $ 2744 M
2023 Median Age : 37 37 37
2023 Total Households : 3,114 19,722 46,845
2023 Pop Age 25+: Bachelor's Degree : 550 5,319 13,048
2023 Average Home Value : $ 127,748 $ 142,972 $ 176,676
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Crestview Street Crestview Ave 2021 8,267 0.05 mi
Fairground Road Speigle St 2018 7,250 0.15 mi
Fairground Road Speigle St 2021 6,551 0.15 mi
Federal Dr Montrose Ave 2018 16,020 0.17 mi
Upper Wetumpka Road Rosedale Dr 2018 8,883 0.18 mi
Upper Wetumpka Road Rosedale Dr 2021 7,098 0.18 mi
Upper Wetumpka Road Harmon St 2014 8,300 0.19 mi
Biltmore Avenue Rosedale Dr 2018 1,477 0.30 mi
Biltmore Ave Federal Dr 2018 2,135 0.31 mi
Upper Wetumpka Road Clarmont Ave 2014 10,500 0.33 mi

Listing Broker

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