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Views: 75 DOM: 505 Updated: 04.28.24 Posted: 12.28.22 Status: Contract

Summary

Price $1,300,000
Built/Renov 1985
Tenant Circle K
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,903
Lease Start 03-01-1985
#Units 14,332
Price/SF $447.81
Expiration 02-28-2030
Tenant Type Convenience/Gas
NOI $65,000
R. Term 5.9
Ownership Fee Simple
Rent/SF $22.39
Increases 5.0%/5/yrs
Pop 5Mi 152,641
Lot/AC 0.64
Options 1/5yrs/5%
AHHI 5Mi $60,545

Lease Highlights

  • Circle K has been operating at this location since 1985
  • The tenant has over 7 years remaining on its current lease term with 1 (5-year) options to extend
  • Lease offers 5% increases throughout the initial term and option periods
  • Absolute NNN with zero landlord responsibilities
  • Guaranteed by investment grade company Circle K Stores (TSE: ATD) (S&P: BBB) with over 14,000 locations

Location Description

Circle K is strategically located on a hard corner at the signalized intersection of North Pace Boulevard (19,091 VPD) and West Fairfield Drive (35,760 VPD). Located within a dense retail corridor, the property is ideally situated near national/credit tenants including Checkers, Firestone, Whataburger, McDonalds, BMW, American Eagle, Wendy’s, Sam’s Club, Target, Michael’s and many more. The...

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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
2027 Total Population : 6,320 73,525 154,680
2022 Total Population : 6,296 73,378 155,116
2022 Employed Civilian Pop : 2,167 35,170 77,675
2022 Total Businesses : 699 5,572 8,818
2022 Average Household Income : $ 38,880 $ 66,756 $ 73,382
2022 Total Consumer Spending : $ 67 M $ 1657 M $ 4002 M
2022 Median Age : 34 38 39
2022 Total Households : 1,974 28,433 62,741
2022 Pop Age 25+: Bachelor's Degree : 187 6,934 17,289
2022 Average Home Value : $ 105,213 $ 236,404 $ 236,915
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Fairfield Dr N P St 2009 36,500 0.03 mi
480 N N St 2009 5,600 0.24 mi
West Fairfield Drive N S St 2020 30,000 0.25 mi
West Fairfield Drive N Pace Blvd 2020 35,000 0.25 mi
St Mary Ave N St Mary Ave 2009 1,900 0.28 mi
N T St W Fairfield Dr 2009 2,100 0.31 mi
North S Street Saint Mary Ave 2020 1,400 0.34 mi
West Leonard Street N L St 2020 5,200 0.41 mi
North T Street W Cross St 2020 1,800 0.49 mi
North Pace Boulevard Clarinda Ln 2020 14,200 0.50 mi

Listing Broker

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