Auto Service - Gas-Conv
Circle K Waterloo -Abs NNN w Inv. Grade Credit
550 W Waterloo Rd, Akron, OH 44314
Listing Price: $1,800,912
Cap Rate
6.25%
Tenant Name
Circle K
Years Remaining On Lease
5.9
Gross SF
2,800
Guarantor
Corporate Guarantee
Rentable SF
2,800
Price/Gross SF
$643.18
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$40.20
Investment Overview
Marcus & Millichap is pleased to present for sale, Circle K Waterloo located in Akron, Ohio. Circle K currently has an absolute triple-net lease with 6.2 years remaining. Circle K Waterloo is being offered for $1,800,912
Circle K Waterloo -Abs NNN w Inv. Grade Credit
Investment Highlights
- Circle K Absolute Triple-Net Lease with 6.2 Years Remaining in Akron, Ohio.
- 1.5 Percent Annual Rent Increases in Current Term and First 25 Years of Options Provides Inflation Hedge and Substantial Net Operating Income Growth Over Hold Period.
- Full Corporate Guarantees from Parent Company Alimentation Couche- Tard Inc. (Public, Ticker: ATD.TO) and Subsidiary Mac's Convenience Stores LLC.
- Couche-Tard Carries S&P "BBB" Investment-Grade Credit Rating with Stable Outlook.
- Potential for Immediate Tax Savings via Qualifying as Section 1250 Real Property with 2022 Tax Year 100 Percent Bonus Depreciation, 15-Year Accelerated Depreciation Schedule, and/or Cost Segregation Study.
- Tenant Fully Indemnifies Landlord for Any and All Potential Environmental and Hazardous Materials Issues – Indemnification Survives Lease Termination.
- Original 20-Year Lease Commenced in 2007; 2001-Built Attractive All-Brick Convenient Store with 12-Pump Canopied Gas Station on 0.4-Acre Lot.
Auto Service - Gas-Conv
Circle K Waterloo -Abs NNN w Inv. Grade Credit
Listing Price: $1,800,912
Cap Rate
6.25%
Tenant Name
Circle K
Years Remaining On Lease
5.9
Gross SF
2,800
Guarantor
Corporate Guarantee
Rentable SF
2,800
Price/Gross SF
$643.18
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$40.20
Investment Highlights
- Circle K Absolute Triple-Net Lease with 6.2 Years Remaining in Akron, Ohio.
- 1.5 Percent Annual Rent Increases in Current Term and First 25 Years of Options Provides Inflation Hedge and Substantial Net Operating Income Growth Over Hold Period.
- Full Corporate Guarantees from Parent Company Alimentation Couche- Tard Inc. (Public, Ticker: ATD.TO) and Subsidiary Mac's Convenience Stores LLC.
- Couche-Tard Carries S&P "BBB" Investment-Grade Credit Rating with Stable Outlook.
- Potential for Immediate Tax Savings via Qualifying as Section 1250 Real Property with 2022 Tax Year 100 Percent Bonus Depreciation, 15-Year Accelerated Depreciation Schedule, and/or Cost Segregation Study.
- Tenant Fully Indemnifies Landlord for Any and All Potential Environmental and Hazardous Materials Issues – Indemnification Survives Lease Termination.
- Original 20-Year Lease Commenced in 2007; 2001-Built Attractive All-Brick Convenient Store with 12-Pump Canopied Gas Station on 0.4-Acre Lot.
Investment Overview
Marcus & Millichap is pleased to present for sale, Circle K Waterloo located in Akron, Ohio. Circle K currently has an absolute triple-net lease with 6.2 years remaining. Circle K Waterloo is being offered for $1,800,912
