Listed by CBRE - South Bay
$3,100,000
3400 E. Anaheim Street
Details
APN 7259-013-027, 7259-013-001
Property Type Retail
Sub Type Gas Station, Convenience Store
Square Footage 3,590
Pumps 10
Cap Rate 4.90%
NOI $151,800
Tenancy Single
Lease Type Absolute NNN
Lease Term 10
Rent Bumps Yes
Year Built 1980
Lot Size (SqFt) 21,618
Zoning LBCCA
Parking Spaces 15 spaces
Parking per 1,000 SqFt 4.18
Investment Type Net Lease
Tenant Credit Credit Rated
Ground Lease Yes
Ownership Ground Lease
Retail | 4.90% CAP | 3,590 SqFt
Marketing description
CBRE is pleased to exclusively offer for sale a Circle K/Mobil gas station and convenience store located at 3400 E. Anaheim Street in Long Beach, California. The property features a brand-new ten (10)-year lease extension through June 30, 2036 with two (2) additional five (5)-year options, demonstrating a long-term commitment to the site and extending potential occupancy through 2046. The lease is signed directly by Circle K Stores Inc., a subsidiary of Alimentation Couche-Tard, one of the largest convenience-store operators in the world with approximately 17,000 stores across North America and a multi-billion-dollar market cap.
Investment highlights
- Brand-New Ten (10)-Year Lease Extension - Circle K has committed to a brand-new ten (10)-year lease extension (through June 30, 2036) with two (2) additional five (5)-year options, demonstrating a long-term commitment to the site and extending potential occupancy through 2046.
- Corporate-Level Credit Tenant - The Lease is signed directly by Circle K Stores Inc., placing the income stream behind one of the largest convenience-store operators in the world (a subsidiary of Alimentation Couche-Tard, with approximately 17,000 stores across North America and a multi-billion-dollar market cap).
- Directly Across from Dominant Grocery-Anchored Retail Hub - The property benefits from a premier location directly across from Belmont Center, a high-performing shopping center anchored by Food 4 Less, driving consistent daily traffic and providing strong co-tenancy synergy that enhances visibility, foot traffic, and long-term tenant demand.
- Signalized Hard-Corner Location - The property occupies the signalized hard corner of E. Anaheim Street and Redondo Avenue, delivering full-movement access from all four directions, premier visibility, and strong daily traffic counts of 55,400 vehicles per day.
- Absolute NNN Ground Lease - Zero Landlord Responsibilities - A true absolute triple-net ground lease. The tenant is responsible for all taxes, insurance, maintenance, and repairs. Truly passive, mailbox-money ownership with no management burden and no capital exposure.
- Fifteen Percent (15%) Rental Increases Every Five (5) Years - Built-in fifteen percent (15%) rent escalations every five (5) years across both the firm term and all option periods - an increase structure that is rare and above typical market standard - providing predictable NOI growth, a strong inflation hedge, and a steadily improving yield-on-cost throughout the hold period.
- 59-Year Operating History - Circle K and its predecessors have operated continuously at this location for over 59 years, repeatedly renewing - most recently via this 2026 extension - a powerful indicator of long-term store performance and the tenant's intent to remain for decades to come.
Listing Contacts
Listed by CBRE - South Bay
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$151,800.00
$12,650.00/mo
Valuation Metrics
0
DSCR
4.9%
Cap Rate
4.9%
ROI
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