Circle K

3991 Johnson Mill Blvd, Johnson, AR 72762

$4,463,919

Cap Rate 6.20%

$4,731,000

Cap Rate 5.85%

Views: 166 DOM: 134 Updated: 12.21.23 Posted: 08.06.23 Status: Sold 12.18.23

Summary

Price $4,463,919 $4,731,000	Built/Renov 2023	Tenant Circle K
Cap Rate 6.20% 5.85%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,600	Lease Start 09-24-2023	#Units 200
Price/SF $1,239.98 $1,314.17	Expiration 09-30-2043	Tenant Type Convenience/Gas
NOI $276,763	R. Term 18.9	Ownership Fee Simple
Rent/SF $76.88	Increases 10.0%/5/yrs	Pop 5Mi 135,393
Lot/AC 0.90	Options 4/5yrs/10%	AHHI 5Mi $80,960

Lease Highlights

Brand new 2023 construction
Circle K recently signed a brand new 20-year lease with 4 (5-year) options to extend
Lease features a 10% rental increase every 5 years throughout the initial term and at the start of each option
Property qualifies for 80 percent year one bonus depreciation or 15-year accelerated depreciation per IRS 1250 Property Designation
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Gas Express, LLC (200+ units)

Location Description

This newly constructed Circle K is strategically located on Johnson Mill Blvd. with access to 12,000 vehicles passing by daily. The site features 8 fueling stations (4-pumps). Its easily accessible central location is only seven miles from both downtown Springdale and Fayetteville. The subject property has an extremely visible location with over (106,000 VPD) at the intersection of US Highway...

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Key Features

New construction
Near major nationals
Freeway visibility
Dense 100M+ pop 5 mi
Top 100 MSA
Brand new lease
Absolute NNN
Accelerated depreciation
Traded and rated company
Top franchise operator

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Links

Circle K Wikipedia Circle K Wikipedia Johnson, Arkansas Zip Code 72762 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Circle K
Guarantor:Franchisee
Company:Gas Express, LLC
# Units:200
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. Founded...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,995	37,621	144,969
2023 Total Population :	2,847	35,760	139,610
2023 Employed Civilian Pop :	1,569	18,535	71,397
2023 Total Businesses :	123	2,318	5,568
2023 Average Household Income :	$ 117,439	$ 89,253	$ 91,343
2023 Total Consumer Spending :	$ 114 M	$ 1213 M	$ 4204 M
2023 Median Age :	34	34	31
2023 Total Households :	1,118	15,543	52,724
2023 Pop Age 25+: Bachelor's Degree :	467	5,478	18,994
2023 Average Home Value :	$ 381,909	$ 323,304	$ 305,306

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Johnson Mill Boulevard	Corporate Center Dr	2021	11,000	0.08 mi
48th St	S 48th St	2008	3,440	0.10 mi
Main Dr	Greathouse Springs Rd	2008	12,320	0.11 mi
49	Greathouse Springs Rd	2021	2,500	0.16 mi
49	I- 49	2021	3,300	0.24 mi
I 49;US 62;US 71	Greathouse Springs Rd	2021	85,000	0.25 mi
49	Greathouse Springs Rd	2021	1,900	0.27 mi
I- 540	Greathouse Springs Rd	2013	59,000	0.29 mi
49	Greathouse Springs Rd	2021	3,600	0.32 mi
Johnson Mill Boulevard	I- 540	2021	4,300	0.50 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
26926 Views
118 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
27028 Views
119 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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