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Views: 119 Updated: 11.28.23 Posted: 06.19.23 Status: Inactive

Summary

Price $3,300,000
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 02-01-2023
#Units 14,332
Price/SF $634.62
Expiration 02-01-2038
Tenant Type Convenience/Gas
NOI $165,000
R. Term 13.2
Ownership Ground Lease
Rent/SF $31.73
Increases 5.0%/11/yrs
Pop 5Mi 46,410
Lot/AC 2.03
Options 7/5yrs/5%
AHHI 5Mi $85,467

Lease Highlights

  • Brand-new 2023 construction with high-quality materials
  • Brand-new 15-year lease with 7 (5-year) options to extend
  • The ground lease features 5% rental increases in year 11 and at the beginning of each option
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (TSE: ATD)
  • Circle K is an investment grade tenant (S&P: BBB)

Location Description

Circle K is strategically located at the hard corner intersection of Hwy 231/N. Memorial Pkwy and Bob Wade Lane with a combined 42,300 vehicles passing by daily. The property benefits from significant street frontage and multiple points of access, providing ease and convenience for customers. New development coming soon adjacent to the site which will include 5 additional highly visible retail...

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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: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....


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Listing Broker

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