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Views: 27 DOM: 27 Updated: 04.20.24 Posted: 04.20.24 Status: Active

Summary

Price $2,632,000
Built/Renov 2024
Tenant Circle K (GL)
Cap Rate 4.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,200
Lease Start 04-01-2024
#Units 16,700
Price/SF $506.15
Expiration 04-01-2039
Tenant Type Convenience/Gas
NOI $125,000
R. Term 14.10
Ownership Ground Lease
Rent/SF $24.04
Increases 5.0%/5/yrs
Pop 5Mi 119,414
Lot/AC 2.85
Options 5/5yrs/5%
AHHI 5Mi $84,006

Lease Highlights

  • Brand new 2024 construction
  • Circle K recently executed a brand new 15-year ground lease with 5 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Circle K is strategically located at the signalized, hard corner intersection of 103rd Street & Samaritan Way, with access to a substantial combined daily traffic count of 56,700 vehicles. The immediate trade area is surrounded by well-known national retailers such as Family Dollar, Publix, and Planet Fitness, among others. Additionally, the site serves as an outparcel to The Villas at Bishops...

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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:16,700
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: TSX: 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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