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Circle K Leasehold

102 S Blair Stone Rd, Tallahassee, FL 32301

Listing Price: $825,000

Cap Rate
7.69%
Tenant Name
Circle K
Years Remaining On Lease
5.4
Guarantor
Corporate Guarantee
Rentable SF
4,140
Lease Type
NNN Ground Lease
Rent Per Square Feet
$33.55

Investment Overview

Marcus & Millichap is proud to exclusively market this Circle K leasehold interest investment opportunity located in Tallahassee, Florida. The property is located on the southwest corner of East Park Avenue and South Blair Stone Road just north of Governor’s Square Mall, and directly across the street from a Publix-Anchored shopping center known as Governor’s Crossing. The 2.5-acre commercial lot benefits from a traffic count of over 35,000 cars daily, along with excellent visibility and access to the property. Circle K has occupied this site for almost 15 years and recently exercised their first of six options to extend the lease for five more years. This is a sale of the leasehold interest in the land. The Seller has a ground lease with the landowner that expires in 2080. The seller is profiting from the sub-lease to Circle K which is returning 7.69 percent on a cash investment. There are five percent increases in the base rent that occur on every option renewal. This is a rare opportunity to buy a corporate guaranteed, single tenant property with no management responsibilities and a high yielding return. Currently Circle K has over 15,000 locations and a BBB credit rating per Standard & Poor’s.

Investment Highlights

  • Circle K net leased investment opportunity with over 2.5 Acres of land
  • This is the sale of the leasehold interest of the land, whereby the Seller has is leasing the land until 2080, and has subleased the land to Circle K
  • Lease is guaranteed by Alimentation Couche-Tard (Parent Co. of Circle K), with S&P credit rating of BBB
  • Circle K has occupied the property since 2008

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

Circle K Leasehold

Listing Price: $825,000

Cap Rate
7.69%
Tenant Name
Circle K
Years Remaining On Lease
5.4
Guarantor
Corporate Guarantee
Rentable SF
4,140
Lease Type
NNN Ground Lease
Rent Per Square Feet
$33.55

Investment Highlights

  • Circle K net leased investment opportunity with over 2.5 Acres of land
  • This is the sale of the leasehold interest of the land, whereby the Seller has is leasing the land until 2080, and has subleased the land to Circle K
  • Lease is guaranteed by Alimentation Couche-Tard (Parent Co. of Circle K), with S&P credit rating of BBB
  • Circle K has occupied the property since 2008

Investment Overview

Marcus & Millichap is proud to exclusively market this Circle K leasehold interest investment opportunity located in Tallahassee, Florida. The property is located on the southwest corner of East Park Avenue and South Blair Stone Road just north of Governor’s Square Mall, and directly across the street from a Publix-Anchored shopping center known as Governor’s Crossing. The 2.5-acre commercial lot benefits from a traffic count of over 35,000 cars daily, along with excellent visibility and access to the property. Circle K has occupied this site for almost 15 years and recently exercised their first of six options to extend the lease for five more years. This is a sale of the leasehold interest in the land. The Seller has a ground lease with the landowner that expires in 2080. The seller is profiting from the sub-lease to Circle K which is returning 7.69 percent on a cash investment. There are five percent increases in the base rent that occur on every option renewal. This is a rare opportunity to buy a corporate guaranteed, single tenant property with no management responsibilities and a high yielding return. Currently Circle K has over 15,000 locations and a BBB credit rating per Standard & Poor’s.

Exclusively Listed By

Financing By

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