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Views: 14 DOM: 21 Updated: 04.26.24 Posted: 04.26.24 Status: Active

Summary

Price $1,140,000
Built/Renov 1995
Tenant Circle K
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,279
Lease Start 04-19-1995
#Units 16,700
Price/SF $347.67
Expiration 04-30-2025
Tenant Type Convenience/Gas
NOI $68,363
R. Term 0.11
Ownership Fee Simple
Rent/SF $20.85
Increases 10.0%/5/yrs
Pop 5Mi 59,245
Lot/AC 0.42
Options 1/10yrs/10%
AHHI 5Mi $54,177

Lease Highlights

  • Circle K has been operating in this location since 1995
  • The tenant has 1 year remaining on the current lease term with 1 (10-year) option to extend
  • The lease features a 10% rental escalation at the start of the remaining option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Circle K is strategically located at the signalized, hard corner intersection of W Garfield Ave and N Lafayette Ave, with access to 9,450 vehicles passing by daily. The property is surrounded by well-known national tenants, including Subway, McDonald's, Kroger, Dairy Queen, Dollar General, Dollar Tree, ALDI, and more. The 5-mile trade area is supported by a population of 59,245 residents with...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,481 17,151 58,182
2023 Total Population : 4,618 17,582 58,790
2023 Employed Civilian Pop : 2,297 7,562 25,551
2023 Total Businesses : 179 560 1,804
2023 Average Household Income : $ 74,133 $ 70,322 $ 68,465
2023 Total Consumer Spending : $ 133 M $ 453 M $ 1454 M
2023 Median Age : 42 41 38
2023 Total Households : 2,071 7,400 24,280
2023 Pop Age 25+: Bachelor's Degree : 396 1,274 4,559
2023 Average Home Value : $ 146,846 $ 141,966 $ 138,175
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Garfield Avenue S Lafayette Ave 2018 7,500 0.02 mi
North Lafayette Avenue Gulf Stream Ave 2022 1,550 0.03 mi
S Lafayette Ave Lauterbach Cir 2008 2,650 0.04 mi
N Lafayette Ave Collins Ct 2008 1,900 0.04 mi
Garfield Ave Dorothy Ave 2008 9,300 0.10 mi
S Lafayette Ave Lauterbach Cir 2008 2,650 0.11 mi
South Lafayette Avenue Pfeiffer Rd 2022 1,850 0.12 mi
Garfield Ave Granville Ave 2002 10,900 0.12 mi
Ricketts Ave Garfield Ave 2002 10,100 0.23 mi
Ricketts Ave Hatterman St 2008 2,250 0.26 mi

Listing Broker

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