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Views: 118 DOM: 50 Updated: 08.21.24 Posted: 07.15.24 Status: Sold 09.04.24

Summary

Price $648,158 $668,000
Built/Renov 2005
Tenant Circle K
Cap Rate 8.25% 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,440
Lease Start 07-01-2005
#Units 16,700
Price/SF $265.64 $273.77
Expiration 06-30-2025
Tenant Type Convenience/Gas
NOI $53,473
R. Term 0.5
Ownership Fee Simple
Rent/SF $21.92
Increases 9.0%/5/yrs
Pop 5Mi 187,552
Lot/AC 1.00
Options 5/5yrs/9%
AHHI 5Mi $65,091

Lease Highlights

  • Circle K has been operating in this location since 2005
  • The tenant has less than 1 year remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 9% 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 Goddard Road, near Henry Ford Wyandotte Hospital (2,300 employees) and BASF Corporation (1,200 employees). The property is conveniently situated 3 miles from the I-75 freeway, a major connector for the Detroit metro area, with direct access to downtown Detroit and adjacent to Windsor, Ontario. Additionally, it is within a 20-minute drive of Detroit...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 14,002 97,829 185,501
2024 Total Population : 14,458 100,160 189,561
2024 Employed Civilian Pop : 8,002 48,756 90,989
2024 Total Businesses : 210 2,292 4,845
2024 Average Household Income : $ 83,014 $ 78,502 $ 84,002
2024 Total Consumer Spending : $ 470 M $ 2935 M $ 5881 M
2024 Median Age : 40 39 40
2024 Total Households : 6,406 42,069 78,820
2024 Pop Age 25+: Bachelor's Degree : 1,458 8,349 17,759
2024 Average Home Value : $ 184,161 $ 180,479 $ 193,331
*ESRI data is presented for informational purposes only

Listing Broker

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