Circle K

2457 Whitesville Road, LaGrange, GA 30240

$5,952,000

Cap Rate 6.35%

Views: 67 DOM: 199 Updated: 04.26.24 Posted: 10.31.23 Status: Active

Summary

Price $5,952,000	Built/Renov 2023	Tenant Circle K
Cap Rate 6.35%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 5,000	Lease Start 12-01-2023	#Units 200
Price/SF $1,190.40	Expiration 12-01-2043	Tenant Type Convenience/Gas
NOI $377,913	R. Term 19.6	Ownership Fee Simple
Rent/SF $75.58	Increases 1.5%/1/yrs	Pop 5Mi 32,772
Lot/AC 1.42	Options 4/5yrs/1.5%	AHHI 5Mi $59,780

Lease Highlights

Brand-new construction, opening 2023
Tenant will execute a brand new 20-year lease with 4 (5-year) options to renew upon close of escrow
Lease features annual 1.5% rent increases
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Gas Express, LLC (200+ units)

Location Description

This brand-new Circle K, equipped with a drive-thru, is conveniently located on Whitesville Rd. (10,800 VPD), directly off Interstate 85 N. (37,500) with multiple points of ingress and egress, as well as monument sign visibility. It is within immediate proximity to Great Wolf Lodge which sees 400,000+ visitors annually. Nearby national tenants include Arby’s, McDonalds, Wendy’s and more,...

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Key Features

New construction
Hard corner intersection
Highway location
Brand new lease
Long 20+ yr lease
Absolute NNN
Accelerated depreciation
Annual rent increases
Investment grade tenant
Top franchise operator

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Links

Circle K Wikipedia Circle K Wikipedia LaGrange, Georgia Zip Code 30240 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 :	123	10,797	33,211
2023 Total Population :	127	10,659	32,758
2023 Employed Civilian Pop :	35	4,223	13,987
2023 Total Businesses :	44	430	1,817
2023 Average Household Income :	$ 64,632	$ 56,726	$ 65,076
2023 Total Consumer Spending :	$ 2 M	$ 194 M	$ 711 M
2023 Median Age :	37	35	37
2023 Total Households :	44	3,888	12,469
2023 Pop Age 25+: Bachelor's Degree :	3	412	2,562
2023 Average Home Value :	$ 217,857	$ 169,072	$ 230,537

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	I- 85	2021	3,230	0.12 mi
	Whitesville St	2021	3,300	0.15 mi
	Whitesville St	2021	4,020	0.23 mi
	Whitesville St	2021	4,010	0.29 mi
Whitesville St	Pegasus Pkwy	2018	36,400	0.54 mi
I 85	Pegasus Pkwy	2021	36,800	0.54 mi
Old Hutchinson Mill Road	Pegasus Pkwy	2021	1,030	0.57 mi
Whitesville Street	Bryant Rd	2021	5,750	0.79 mi
Whitesville Street	Buck Murphy Rd	2019	11,000	1.02 mi
I- 85	Hamilton Rd	2019	2,790	1.05 mi

Listing Broker

Jared Kaye

Marcus & Millichap: MKRG

Contact

21 Listings
1053 Views
10 Sold

Sonny Molloy

Marcus & Millichap: MKRG

Contact

21 Listings
1053 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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