Listed by JLL Chicago | Americas Headquarters, JLL - Irvine (Orange County), California
$4,200,000
Circle K - Port Richey, FL
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 5,200
Cap Rate 5%
NOI $210,000
Tenancy Single
Brand/Tenant Circle K
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 08/31/2040
Remaining Term 14.2
Rent Bumps Yes
Lease Options 7 x 5 Years
Class A
Year Built 2025
Acreage 2.810
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 09/01/2025
Ground Lease Yes
Retail | 5.00% CAP | 5,200 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Circle K at 10934 US-19 in Port Richey, Florida (“Property” or “Asset”). The Property is operating on an absolute NNN ground lease with ±14.7 years of primary lease term remaining, 10.0% rent escalations every 5 years and seven, five-year options.
Investment highlights
- Long-term absolute NNN ground lease with ±14.7 years of primary term remaining
- Investment grade tenancy ('BBB+) from world's 2nd largest convenience store chain
- Signalized intersection, hard corner with visibility to 57,000+ vehicles per day
- Dense hotel corridor supporting steady stream of travelers and seasonal visitors
- Pasco County is among Florida’s fastest-growing counties, adding 120,000 residents since 2020
- 12% population growth since 2010 within a 1-mile radius
Listing Contacts
Listed by JLL Chicago | Americas Headquarters, JLL - Irvine (Orange County), California
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$210,000.00
$17,500.00/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
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