Circle K (GL)

Madison Boulevard & Hughes Road, Madison, AL 35758

$3,900,000

Cap Rate 5.00%

Views: 100 Updated: 11.28.23 Posted: 03.29.23 Status: Inactive

Summary

Price $3,900,000	Built/Renov 2023	Tenant Circle K (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 5,200	Lease Start 03-01-2023	#Units 14,332
Price/SF $750.00	Expiration 03-01-2038	Tenant Type Convenience/Gas
NOI $195,000	R. Term 13.2	Ownership Ground Lease
Rent/SF $37.50	Increases 5.0%/11/yrs	Pop 5Mi 79,618
Lot/AC 1.92	Options 7/5yrs/5%	AHHI 5Mi $124,829

Lease Highlights

New 2023 construction
Circle K recently signed a brand-new 15-year lease with 7 (5-year) options to extend
Lease features 5% rental increases starting year 11 and at each option period
Absolute NNN ground lease with zero landlord responsibilities
Corporate guarantee by Alimentation Couche-Tard (TSE: ATD)
Circle K is an investment grade tenant (S&P: BBB)

Location Description

Circle K is strategically located along the signalized, hard corner intersection of Madison Boulevard and Hughes Road with access to 55,200 vehicles per day. The property is located approximately 1 mile from the on/off ramp of I-565 (77,200 VPD) further increasing consumer draw to the area. National/credit tenants in the area include Walmart Supercenter, Walgreens, Dollar Tree, Mcdonald’s,...

...

Key Features

New construction
Signalized intersection
Hard corner intersection
High traffic 50M+ VPD
Major MSA
Brand new lease
Long 10+ yr lease
Accelerated depreciation
Corporate Guarantee
Investment grade tenant

...

Links

Circle K Wikipedia Circle K Wikipedia Madison, Alabama Zip Code 35758 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Circle K (GL)
Guarantor:Corp T and Rated
Company:Alimentation Couche-Tard
# Units:14,332
Tenant S&P: BBB
Moody’s: Baa2
Stock: TSE: 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....

...

Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
30386 Views
93 Sold

William Wamble

SRS National Net Lease Group

Contact

186 Listings
23504 Views
49 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

...

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT