Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
$1,525,000
Circle K
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 2,781
Cap Rate 5.19%
NOI $79,200
Occupancy 100%
Tenancy Single
Brand/Tenant Circle K
Lease Type Absolute NNN
Lease Term 20.9
Lease Expiration 02/03/2028
Remaining Term 1.5
Rent Bumps Yes
Lease Options 3, 5 Year Options Remaining
Price per SqFt $548
Year Built 1972
Acreage 0.400
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/07/2007
Phoenix MSA | 5.19% CAP | 2,781 SqFt
Marketing description
Circle K has become one of the most widely recognized convenience store brands, known worldwide for quality products and great customer service. Founded in 1951 in El Paso, Texas, the company is owned and operated by the Canada-based Alimentation Couche-Tard, the leader in the Canadian convenience store industry. In the United States, it is the largest independent convenience store operator in terms of number of company-operated stores.
Located just 10 minutes east of downtown Phoenix, Tempe exudes its own personality and the youthful spirit of a college town. Home to Arizona State University, the largest public university in the United States, Tempe has a vibrant downtown that’s active day and night.
Investment highlights
- Absolute Triple-Net (NNN) Lease with Corporate Circle K Guaranty
- Multiple Renewal Options Remaining with 5 Percent Rent Increases in Each Option
- Densely-Populated Tempe Trade Area - Approximately 622,000 Daytime Population within a Five-Mile Radius
- Excellent Frontage Along West Baseline Road, a Significant East-West Arterial Road, Visible to Approximately 38,050 Cars per Day
- Immediate Proximity to Arizona Grand Resort & Spa and Arizona Mills, the State's Largest Indoor Outlet Mall and Entertainment Destination
- Surrounded by Single-Family Residences and Apartment Homes
- Easy Freeway Access, One Mile Off the I-10 and US-60 Freeways
Listing Contacts
Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$79,200.00
$6,600.00/mo
Valuation Metrics
0
DSCR
5.19%
Cap Rate
5.19%
ROI
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