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Views: 15 DOM: 7 Updated: 10.11.24 Posted: 10.11.24 Status: Active

Summary

Price $4,271,000
Built/Renov 2023
Tenant Circle K
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,600
Lease Start 03-03-2023
#Units 200
Price/SF $1,186.39
Expiration 06-01-2043
Tenant Type Convenience/Gas
NOI $256,273
R. Term 18.7
Ownership Fee Simple
Rent/SF $71.19
Increases 10.0%/5/yrs
Pop 5Mi 127,611
Lot/AC 1.00
Options 4/5yrs/10%
AHHI 5Mi $71,994

Lease Highlights

  • New 2023 construction
  • Circle K has 18+ years remaining on the current lease term with 4 (5-year) 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
  • Property qualifies for 60 percent year one bonus depreciation or 15-yr accelerated deprecation per IRS 1250 Property Designation
  • Tenant is the largest Circle K franchisee in the U.S. with 200+ locations

Location Description

Circle K is strategically located at the signalized, hard corner intersection of Pike Avenue and W 16th Street, with access to a combined daily traffic count of 21,000 vehicles. This site features 8 fueling stations (4 pumps), making it a key convenience stop for travelers and locals alike. Situated just three miles north of downtown Little Rock, the site enjoys a central position within the...

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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. Founded...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,532 62,012 126,491
2023 Total Population : 7,314 61,243 126,103
2023 Employed Civilian Pop : 3,010 30,320 60,678
2023 Total Businesses : 416 4,704 8,316
2023 Average Household Income : $ 47,587 $ 77,209 $ 80,403
2023 Total Consumer Spending : $ 154 M $ 2044 M $ 4115 M
2023 Median Age : 38 39 40
2023 Total Households : 3,638 30,293 58,793
2023 Pop Age 25+: Bachelor's Degree : 768 10,228 21,221
2023 Average Home Value : $ 177,293 $ 284,025 $ 262,120
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
365 W 17th St 2020 20,000 0.07 mi
AR 365 W 17th St 2021 18,000 0.07 mi
Pike Ave W Short 17th St 2017 19,000 0.14 mi
Pike Ave W 13th St 2017 18,000 0.29 mi
AR 365 W 10th St 2021 17,000 0.41 mi
Pike Avenue W 10th St 2018 18,000 0.41 mi
West 22nd Street Marion St 2018 870 0.44 mi
W22NDST Marion St 2021 900 0.44 mi
Percy Machin Drive W 19th St 2021 4,000 0.44 mi
West 18th Street Flora St 2021 1,400 0.47 mi

Listing Broker

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