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Views: 55 DOM: 57 Updated: 11.08.24 Posted: 09.25.24 Status: Active

Summary

Price $4,589,000
Built/Renov 2023
Tenant Circle K
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,600
Lease Start 05-28-2023
#Units 200
Price/SF $1,274.72
Expiration 08-26-2043
Tenant Type Convenience/Gas
NOI $275,339
R. Term 18.9
Ownership Fee Simple
Rent/SF $76.48
Increases 10.0%/5/yrs
Pop 5Mi 52,155
Lot/AC 1.06
Options 4/5yrs/10%
AHHI 5Mi $87,824

Lease Highlights

  • New 2023 construction
  • Circle K has 18+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods

  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Gas Express, LLC (200 units backed)

Location Description

Circle K is strategically located at the signalized, hard corner intersection of Broken Hill Drive and Highway 71, with access to a combined daily traffic count of 35,000 vehicles. The property is within a block of national tenants, including McDonald’s, Sonic, Taco Bell, Waffle House, and more. Additionally, it is within a 20-minute drive of downtown Fort Smith and the Fort Smith Regional...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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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Listing Broker

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