Circle K Ground Lease | Panama City, FL
New 15-Year Abs NNN Ground Lease | Growing Florida Market
Marketing description
New 15-year absolute NNN ground lease to Circle K, one of the largest chains of company-owned convenience stores in the U.S. The tenant covers all taxes, insurance, maintenance, roof, structure, and parking lot, providing a fully passive investment. Circle K operates more than 16,000 locations globally, demonstrating financial stability and brand resilience.
Highly visible and easily accessible location at the signalized four-way intersection of East Highway 390 & State Route 389, with a combined traffic count of 27,000+ vehicles per day. The site's proximity to U.S. Route 231 allows the property to capture significant local and commuter traffic (34,000 AADT).
Located near major employers such as Trane (approx. 950 employees) and HCA Florida Gulf Coast Hospital (1,000+ employees) and major retailers such as Walgreens, CVS Pharmacy, Winn-Dixie, Publix, Walmart Supercenter, and many more. Surrounded by multi-family planned communities, including Mowat Highlands (295 homes), Camryn's Crossing (167 homes), and Titus Park (1,000 planned homes on approx. 600 acres).
Investment highlights
- New 15-year absolute NNN ground lease to Circle K, one of the largest chains of company-owned convenience stores in the U.S.
- 5% rental increases every five (5) years in initial term and option periods, ensuring consistent income growth.
- Tenant covers all taxes, insurance, maintenance, roof, structure, and parking lot, providing a fully passive investment.
- Circle K operates more than 16,000 locations globally, demonstrating financial stability and brand resilience.
- Circle K is experiencing growth in various areas, including store count, in-store offerings, and fuel site rebranding.
- Highly visible and easily accessible location at the signalized four-way intersection of East Highway 390 & State Route 389, with a combined traffic count of 27,000+ vehicles per day.
- The site's proximity to U.S. Route 231 allows the property to capture significant local and commuter traffic (34,000 AADT).
- Located near major employers such as Trane (approx. 950 employees) and HCA Florida Gulf Coast Hospital (1,000+ employees) and major retailers such as Walgreens, CVS Pharmacy, Winn-Dixie, Publix, Walmart Supercenter, and many more.
- Surrounded by multi-family planned communities, including Mowat Highlands (295 homes), Camryn's Crossing (167 homes), and Titus Park (1,000 planned homes on approx. 600 acres).
- 67,626 residents live within five miles of the property, marking an 11% increase since 2010.
- Robust average annual household income of $126,495 within a one-mile radius of the property.
- Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise this Circle K and Panama City for steady concurrent growth.
- Florida is an income tax-free state, greatly enhancing the appeal of this property.
- High-quality 2026 construction built to Circle K's latest prototype.
- Site features a 5,200-SF c-store along with 7 canopied MPDs (14 fueling stations) for customer convenience.
- Large 1.96-acre parcel to accommodate for Circle K's operational efficiency.
- Property features multiple points of ingress/egress, ideal for high-traffic c-store and fueling operations.
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