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Views: 66 DOM: 381 Updated: 04.22.24 Posted: 05.02.23 Status: Active

Summary

Price $3,000,000
Built/Renov 2023
Tenant Circle K (GL)
Cap Rate 4.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,476
Lease Start 12-02-2022
#Units 14,332
Price/SF $547.85
Expiration 12-01-2037
Tenant Type Convenience/Gas
NOI $142,500
R. Term 13.6
Ownership Ground Lease
Rent/SF $26.02
Increases 5.0%/5/yrs
Pop 5Mi 307,515
Lot/AC 0.69
Options 6/5yrs/5%
AHHI 5Mi $78,348

Lease Highlights

  • Brand-new construction with high-quality materials and distinct Circle K design elements
  • New 15-year ground lease with 6 (5-year) options to extend
  • The ground lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option
  • The lease is corporate signed by Circle K Stores, Inc.
  • Circle K is an investment grade tenant (S&P: BBB)

Location Description

This newly constructed Circle K is strategically located at the signalized, hard corner intersection of W. Waters Ave. and N. Himes Ave. averaging 65,000 vehicles per day. State Highway 580 runs parallel to Circle K and sees more than 72,000 VPD. The asset features high-quality materials and distinct Circle K design elements, and benefits from significant street frontage and multiple points of...

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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 : 18,242 103,414 311,063
2023 Total Population : 18,270 104,228 311,420
2023 Employed Civilian Pop : 10,278 57,904 167,171
2023 Total Businesses : 1,172 7,406 17,497
2023 Average Household Income : $ 65,538 $ 78,341 $ 79,839
2023 Total Consumer Spending : $ 434 M $ 2909 M $ 8693 M
2023 Median Age : 36 40 39
2023 Total Households : 7,563 42,512 124,739
2023 Pop Age 25+: Bachelor's Degree : 2,694 15,891 48,061
2023 Average Home Value : $ 305,673 $ 361,945 $ 362,150
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Waters Ave N Dale Mabry Hwy 2011 32,994 0.09 mi
N Dale Mabry Hwy W Waters Ave 2019 70,500 0.20 mi
N Dale Mabry Hwy W Waters Ave 2016 67,000 0.21 mi
W Waters Ave N Dale Mabry Hwy 2011 45,888 0.27 mi
N Himes Ave Grand Cayman Dr 2017 14,521 0.32 mi
N Dale Mabry Hwy W Kirby St 2016 68,500 0.43 mi
W Waters Ave Claonia St 2017 33,775 0.48 mi
North Dale Mabry Highway Foxcroft Dr 2021 64,000 0.50 mi
FL 580 W Kirby St 2021 64,500 0.53 mi
N Himes Ave W Broad St 2013 15,000 0.61 mi

Listing Broker

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