Circle K

3106 Jenny Lind Road, Fort Smith, AR 72901

$4,187,000

Cap Rate 6.25%

Views: 71 DOM: 212 Updated: 05.06.24 Posted: 10.18.23 Status: Active

Summary

Price $4,187,000	Built/Renov 2023	Tenant Circle K
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,600	Lease Start 10-31-2023	#Units 200
Price/SF $1,163.06	Expiration 10-30-2043	Tenant Type Convenience/Gas
NOI $261,690	R. Term 19.5	Ownership Fee Simple
Rent/SF $72.69	Increases 10.0%/5/yrs	Pop 5Mi 84,594
Lot/AC 1.70	Options 4/5yrs/10%	AHHI 5Mi $74,708

Lease Highlights

Brand-new, state-of-the-art construction
Tenant recently signed a new 20-year lease with 4 (5-year) options to extend
The lease features rent increases of 10% every 5 years
Absolute NNN | Zero landlord responsibilities
Strong operator and guarantor | Gas Express, LLC is the largest Circle K franchisees in the country with 113 Circle K locations (with another 20 set to open by year-end) and 200+ units across all brands

Location Description

Circle K is situated on Jenny Lind Road, which has a daily traffic count of 7,800 vehicles. The subject property is conveniently located within walking distance of various amenities, including Harps Food Stores, a recently constructed Family Dollar, Ramsey Middle School, and Fairview Elementary School. Southside High School is also conveniently located approximately 1.5 miles away....

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Key Features

New construction
Signalized intersection
Major MSA
Brand new lease
Long 20+ yr lease
Absolute NNN
Accelerated depreciation
Traded and rated company
Investment grade tenant
Top franchise operator

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Links

Circle K Wikipedia Circle K Wikipedia Fort Smith, Arkansas Zip Code 72901 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Circle K
Guarantor:Franchisee
Company:Gas Express, LLC
# Units:200
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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	8,362	42,049	84,629
2023 Total Population :	8,336	42,105	84,594
2023 Employed Civilian Pop :	4,166	18,743	37,842
2023 Total Businesses :	331	2,913	4,139
2023 Average Household Income :	$ 72,109	$ 71,332	$ 74,708
2023 Total Consumer Spending :	$ 232 M	$ 1112 M	$ 2246 M
2023 Median Age :	41	37	38
2023 Total Households :	3,676	17,719	34,396
2023 Pop Age 25+: Bachelor's Degree :	1,279	4,138	8,862
2023 Average Home Value :	$ 204,319	$ 186,398	$ 197,458

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Old Jenny Lind Road	Houston St	2021	4,700	0.48 mi
Towson Ave	Independence St	2017	20,000	0.62 mi
Towson Avenue	W St S	2021	21,000	0.67 mi
South Fresno Street	Towson Ave	2021	3,400	0.69 mi
Jenny Lind Road	Jackson St	2021	7,700	0.70 mi
Towson Avenue	S Jackson St	2021	19,000	0.74 mi
Wheeler Ave	Y St S	2015	14,000	0.78 mi
S Street South	Wolfe Ln	2021	480	0.78 mi
Towson Ave	U St S	2017	20,000	0.79 mi
Wheeler Avenue	Y St S	2021	13,000	0.83 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

156 Listings
6759 Views
10 Sold

Calvin Short

Berkeley Capital Advisors

Contact

163 Listings
7107 Views
11 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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