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Views: 62 DOM: 127 Updated: 10.29.24 Posted: 08.17.24 Status: Active

Summary

Price $4,111,000
Built/Renov 2024
Tenant Circle K (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,625
Lease Start 02-01-2025
#Units 16,700
Price/SF $888.86
Expiration 01-31-2040
Tenant Type Convenience/Gas
NOI $185,000
R. Term 15.1
Ownership Ground Lease
Rent/SF $40.00
Increases 10.0%/5/yrs
Pop 5Mi 110,152
Lot/AC 1.26
Options 3/5yrs/10%
AHHI 5Mi $79,355

Lease Highlights

  • Brand new 2024 construction
  • New 15-year ground lease with 3 (5-year) and 1 (4-year, 11 month) 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
  • Corporate guarantee | Investment grade tenant

Location Description

Circle K is strategically located at the signalized, hard corner intersection of Cesar Chavez Street and 1st Street, with access to a daily traffic count of 33,000 vehicles. The property is surrounded by top-performing tenants, including Cardenas Market (ranked in the top 23% within the chain according to Placer.ai), Planet Fitness (top 22% nationwide, Placer.ai), Smart & Final (ranked #1 of 5...

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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....


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 18,090 64,580 127,794
2024 Total Population : 17,130 62,162 124,139
2024 Employed Civilian Pop : 7,083 26,062 52,677
2024 Total Businesses : 439 1,216 2,951
2024 Average Household Income : $ 66,421 $ 77,982 $ 89,389
2024 Total Consumer Spending : $ 249 M $ 1127 M $ 2830 M
2024 Median Age : 31 32 34
2024 Total Households : 4,193 16,248 35,656
2024 Pop Age 25+: Bachelor's Degree : 306 2,495 7,039
2024 Average Home Value : $ 355,581 $ 426,974 $ 498,745
*ESRI data is presented for informational purposes only

Listing Broker

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