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Views: 153 DOM: 388 Updated: 08.07.24 Posted: 11.29.23 Status: Active

Summary

Price $2,617,000
Built/Renov 1987
Tenant Circle K
Cap Rate 5.35%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,050
Lease Start 04-12-2007
#Units 16,700
Price/SF $858.03
Expiration 05-31-2032
Tenant Type Convenience/Gas
NOI $140,000
R. Term 7.5
Ownership Fee Simple
Rent/SF $45.90
Increases 5.0%/5/yrs
Pop 5Mi 343,493
Lot/AC 0.84
Options 6/5yrs/5%
AHHI 5Mi $76,344

Lease Highlights

  • Circle K has been operating in this location since 2007
  • Tenant has 7+ years of firm term remaining with 6 (5-year) options to extend
  • The lease features 5% rent increases every 5 years | Next rent bump in 2027
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Circle K is strategically located at the signalized, hard-corner intersection of Grant Street and 19 th Avenue averaging a combined 40,870 vehicles passing by daily. Additionally, the site is less than a ½ mile from an I-17 on/off-ramp (116,300 VPD), and within walking distance to the Arizona Capitol Museum. The 5-mile trade area is supported by a dense population of more than 340,000...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 14,011 105,568 357,461
2023 Total Population : 13,881 95,862 343,493
2023 Employed Civilian Pop : 4,902 40,498 151,575
2023 Total Businesses : 764 6,433 14,731
2023 Average Household Income : $ 50,061 $ 79,518 $ 76,344
2023 Total Consumer Spending : $ 192 M $ 2406 M $ 8004 M
2023 Median Age : 29 32 31
2023 Total Households : 4,321 34,310 118,700
2023 Pop Age 25+: Bachelor's Degree : 487 10,821 29,374
2023 Average Home Value : $ 294,064 $ 386,919 $ 376,606
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South 19th Avenue W Lincoln St 2018 18,805 0.08 mi
W Grant St S 17th Ave 2015 7,636 0.16 mi
S 19th Ave W Harrison St 2011 15,236 0.17 mi
S 19th Ave W Hadley St 2016 18,863 0.17 mi
S 17th Ave W Buchanan St 2015 1,920 0.24 mi
S 17th Ave W Tonto St 2012 2,617 0.29 mi
W Grant St S 21st Ave 2015 9,435 0.30 mi
Buckeye Rd S 18th Ave 2010 17,605 0.34 mi
Buckeye Rd S 19th Ave 2010 16,482 0.35 mi
S 19th Ave W Jefferson St 2010 15,267 0.35 mi

Listing Broker

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