Circle K

1106 North Jefferson Street, Dublin, GA 31021

$4,742,400

Cap Rate 6.25%

Views: 81 DOM: 212 Updated: 04.26.24 Posted: 10.18.23 Status: Active

Summary

Price $4,742,400	Built/Renov 2023	Tenant Circle K
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,297	Lease Start 04-01-2024	#Units 200
Price/SF $1,438.40	Expiration 03-31-2044	Tenant Type Convenience/Gas
NOI $296,400	R. Term 19.10	Ownership Fee Simple
Rent/SF $89.90	Increases 1.5%/1/yrs	Pop 5Mi 25,899
Lot/AC 1.16	Options 4/5yrs/1.5%	AHHI 5Mi $65,442

Lease Highlights

Brand-new construction featuring Circle K’s latest prototype
Tenant will sign a new 20-year lease with 4 (5-year) options to extend upon close of escrow
The lease features rent increases of 1.5% annually
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Gas Express, LLC (200+ units)

Location Description

This brand-new Circle K is fundamentally located with multiple points of ingress and egress at the signalized intersection of N. Jefferson St. and Hillcrest Pkwy., which see a combined 29,300 vehicles passing by daily. The site features 4 MPDs with 8 fueling stations. The property is surrounded by major nationals including Family Dollar, Advance Auto Parts, Auto Zone, American Freight and...

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Key Features

Signalized intersection
New prototype
Strategically located
Long 20+ yr lease
Absolute NNN
Accelerated depreciation
Annual rent increases
Traded and rated company
Investment grade tenant
Top franchise operator

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Links

Circle K Wikipedia Circle K Wikipedia Dublin, Georgia Zip Code 31021 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 :	5,617	20,780	27,382
2023 Total Population :	5,276	20,446	26,959
2023 Employed Civilian Pop :	1,569	7,022	9,319
2023 Total Businesses :	358	1,201	1,438
2023 Average Household Income :	$ 63,692	$ 69,638	$ 69,737
2023 Total Consumer Spending :	$ 126 M	$ 501 M	$ 654 M
2023 Median Age :	35	39	40
2023 Total Households :	2,230	8,169	10,648
2023 Pop Age 25+: Bachelor's Degree :	191	1,544	2,007
2023 Average Home Value :	$ 275,418	$ 214,218	$ 199,974

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North Jefferson Street	Brookdale Dr	2019	9,780	0.18 mi
Hillcrest Dr	Central Ave	2005	1,110	0.19 mi
N Jefferson St	Arnau St	2005	14,800	0.27 mi
Hillcrest Drive	Woodlawn Dr	2021	1,000	0.28 mi
North Franklin Street	Romine Ct	2021	1,290	0.29 mi
Woodlawn Drive	Hillcrest Dr	2021	1,780	0.30 mi
N Jefferson St	Brookdale Dr	2005	14,680	0.33 mi
Woodlawn Dr	Hillcrest Dr	2005	1,860	0.42 mi
Hillcrest Parkway	Hillcrest Pkwy	2019	9,840	0.42 mi
East Mary Street	N Washington St	2021	1,260	0.44 mi

Listing Broker

Jared Kaye

Marcus & Millichap: MKRG

Contact

21 Listings
1052 Views
10 Sold

Sonny Molloy

Marcus & Millichap: MKRG

Contact

21 Listings
1052 Views
10 Sold

Jared Kaye

Jared entered into the commercial real estate industry as an intern with Marcus & Millichap during the summer of 2011. Following graduation from the University of Florida in June of 2012, he accepted a full-time position to work with Sonny Molloy and began his career with Marcus & Millichap as an Associate. In August of 2020, he was promoted to First Vice President Investments. Jared is both client-centric and relationship-driven in his approach to working with clients. He leverages cut

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Sonny Molloy

Sonny Molloy leads a talented group of investment sales professionals on behalf of the Molloy Kaye Retail Group (“MKRG”). As a Senior Vice President of Investments, a firm-wide distinction, Sonny has completed an excess of $1.86 Billion in investment real estate assignments throughout 28 states across the US. Both he and his team consistently rank in the top echelon of agents at Marcus & Millichap and have established themselves as a top producer in the Atlanta office since launching their

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