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Views: 120 DOM: 133 Updated: 08.22.24 Posted: 07.04.24 Status: Active

Summary

Price $2,990,400
Built/Renov 2024
Tenant Circle K (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,666
Lease Start 05-01-2024
#Units 16,700
Price/SF $815.71
Expiration 04-30-2039
Tenant Type Convenience/Gas
NOI $156,996
R. Term 14.5
Ownership Ground Lease
Rent/SF $42.82
Increases 5.0%/5/yrs
Pop 5Mi 93,701
Lot/AC 1.50
Options 7/5yrs/5%
AHHI 5Mi $80,109

Lease Highlights

  • Brand new 2024 construction
  • Circle K recently executed a brand new 15-year ground lease with 7 (5-year) options to extend
  • The lease features 5% rental escalations 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 on Chatham Parkway, with access to 17,400 vehicles passing by daily. The property is situated directly off Interstate 16, which has 67,300 VPD), providing direct on/off ramp access. There are six car dealerships within a 1-mile radius, enhancing the site's visibility and accessibility with multiple points of ingress/egress. The property is near Savannah’s...

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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:16,700
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: TSX: 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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Listing Broker

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