Listed by Secure Net Lease
$2,333,000
Circle K | Rare Fee Simple | Corporate Guarantee
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 2,733
Cap Rate 6.75%
NOI $157,500
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, Wawa
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 05/01/2030
Remaining Term 3.8
Rent Bumps Yes
Lease Options (5), 5-Year Renewal Options
Price per SqFt $854
Year Built 1997
Acreage 1.050
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/01/2020
Ground Lease No
6.75% CAP | Low Price Point | Eligible for 100% Bonus Depreciation (Consult with CPA)
Marketing description
- 4.2 Years Remaining On Fee Simple Absolute NNN Lease | Early Lease Extension in 2020
- Prime Location On West Meighan Boulevard With 36,025 VPD Adjacent To US Highway 431 And Major Regional Corridors
- Surrounded By National Daily-Needs Retailers Established Retail Corridor With Strong Cross-Traffic Synergy
- Benefiting From $100M+ RISE Plan And 1,100-Acre NEAR Megasite Development Projected 2,400 Jobs And Significant Regional Economic Impact
- Corporate-Guaranteed Absolute NNN Lease To Circle K #2 Convenience Store Chain With 17,300+ Global Locations
Investment highlights
- 4.2 Years Remaining on Absolute NNN Lease with 5% Rental Increases Every 5 Years in both the Primary Term and Renewal Options and (5) 5-Year Options
- Prime Positioning with 36,025 VPD The property benefits from direct frontage on West Meighan Boulevard with traffic counts reaching 25,061 vehicles per day, supported by 10,964 VPD along adjacent 12th Street. The site captures local residential traffic and commuter flow with connectivity to US Highway 278 and I-759, reinforcing long-term fuel and convenience demand.
- Established National Retail Corridor Anchored by Walmart and Daily-Needs Retailers Surrounding retailers include a Walmart Supercenter, Dollar General, Family Dollar, Napa Auto Parts, McDonald’s, Domino’s, and ALDI. The dense concentration of national brands and automotive-oriented uses supports consistent cross-shopping activity and repeat daily trips.
- Healthcare, Education, and Tourism Demand Drivers Gadsden Regional Medical Center (346 beds; 1,300+ employees; ~5 miles) and Riverview Regional Medical Center (~200 beds; 789 employees; ~3 miles) provide 24-hour workforce and visitor traffic. Gadsden State Community College (5,568 students; 532 employees), George W. Floyd Elementary (400+ students), and Noccalula Falls Park (200,000+ annual visitors) contribute steady commuter and seasonal traffic.
- Corporate-Guaranteed Lease to Circle K, the #2 U.S. Convenience Store Chain Circle K operates 17,300+ locations globally, including approximately 7,000+ stores in the United States, and is backed by Alimentation Couche-Tard (TSX: ATD) with ~$101B CAD in trailing revenue. The brand’s global scale, fuel leadership, and operational efficiency provide long-term lease security and renewal probability.
- Gadsden MSA Experiencing Major Public and Private Investment The Gadsden MSA serves approximately 103,000 residents and is benefiting from the $100M+ RISE Plan projected to generate 2,400 jobs and $190M in economic impact. Additional momentum includes the 1,100-acre NEAR Megasite targeting 1,000+ jobs and ongoing infrastructure investments that strengthen long-term traffic growth and retail stability.
Listing Contacts
Listed by Secure Net Lease
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$157,500.00
$13,125.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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