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Views: 80 DOM: 405 Updated: 04.22.24 Posted: 04.07.23 Status: Active

Summary

Price $3,245,000
Built/Renov 2023
Tenant Circle K (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,200
Lease Start 04-02-2023
#Units 14,332
Price/SF $624.04
Expiration 04-01-2043
Tenant Type Convenience/Gas
NOI $146,000
R. Term 18.10
Ownership Ground Lease
Rent/SF $28.08
Increases 5.0%/5/yrs
Pop 5Mi 158,927
Lot/AC 1.85
Options 6/5yrs/5%
AHHI 5Mi $77,220

Lease Highlights

  • New 2023 construction
  • Brand new 20-year lease with 6 (5-year) options to extend
  • Lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option
  • 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

Circle K is strategically located off the signalized, hard corner intersection of Little Road and Trouble Creek Road with a combined 48,100 vehicles passing by daily. The asset is located within close proximity to multiple housing developments: River Crossing, Park Lake Estates, Cattlemans Crossing, Southern Oaks, Hunters Ridge, River Side Village, and more, providing a direct consumer base...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Circle K
  • Guarantor:Corp T and Rated
  • Company:Alimentation Couche-Tard
  • # 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....


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,756 59,375 168,808
2023 Total Population : 6,860 58,668 159,109
2023 Employed Civilian Pop : 2,670 25,338 70,789
2023 Total Businesses : 169 1,835 5,941
2023 Average Household Income : $ 81,704 $ 72,818 $ 78,698
2023 Total Consumer Spending : $ 224 M $ 1649 M $ 4647 M
2023 Median Age : 61 50 48
2023 Total Households : 3,172 25,946 67,549
2023 Pop Age 25+: Bachelor's Degree : 1,076 6,782 19,234
2023 Average Home Value : $ 277,856 $ 257,478 $ 294,523
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
River Crossing Blvd Easthaven Ct 2011 9,100 0.12 mi
Little Road River Crossing Blvd 2021 40,000 0.14 mi
River Crossing Boulevard Easthaven Ct 2021 9,500 0.14 mi
Trouble Creek Rd Spring Side Dr 2011 9,100 0.25 mi
Little Rd Rancho del Rio Dr 2010 36,755 0.38 mi
River Crossing Boulevard Redhawk Dr 2021 6,600 0.71 mi
Cecelia Dr Farnsworth Ln 2011 2,000 0.74 mi
Little Deer Parkway Worth Ct 2021 1,700 0.78 mi
Plathe Road Leota la 2021 10,500 0.89 mi
Little Rd Lindy Ln 2007 32,824 0.96 mi

Listing Broker

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