Skip to main content

Auto Service - Gas-Conv

Circle K Sale-Leaseback

3424 US-431, Phenix City, AL 36867

Listing Price: $5,385,890

Cap Rate
6.25%
Tenant Name
Circle K
Guarantor
Franchisee Guarantee
Rentable SF
5,000
Lease Type
Absolute Net
Rent Per Square Feet
$67.32

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS
Located at the entrance of The Village at Crosswinds
A 22-acre retail development anchored by Renfroe’s Market grocery store & supplemented with 25,000 SF retail center
Priority target area of Phenix City anchored by large military population from Fort Benning
Direct frontage along Hwy 431 with immediate access to a newly installed 4-way traffic signal
Directly across from Chattahoochee Valley Community College, Troy University – Phenix City Campus & The District at Phenix City
Multiple points of ingress and egress
Latest Circle K prototype building with desirable drive-thru endcap
Limited competition in immediate area
Only 1 other gas station within a 1-mile radius (unbranded)
Large parcel size of ±3.28 acres
Brand new construction scheduled to be completed in Q4 2023

OPTIMAL LEASE STRUCTURE
Rare 20-year base term
Four (4), 5-year renewal options
Inflation hedge with 1.5% rent escalations every year throughout entire lease
Triple Net (NNN) lease with no landlord responsibilities
Tax advantages with accelerated & bonus depreciation due to fee simple ownership
See page 6 for more details

COLUMBUS, GA MSA
Comprised of six (6) counties in GA & one (1) in AL
Major employers
Fort Benning – 45,000+ employees
Annual economic impact of $4.75 B
TSYS, a Global Payments Company – 4,075+ employees
Aflac – 3,335+ employees
Kia Motors Manufacturing Georgia – 2,700+ employees

LARGE FRANCHISEE & DOMINANT BRAND
Largest Alimentation Couche-Tard franchisee in US
Expanding 200+ unit operator across 6 states (AL, AR, GA, LA, SC, TN)
Currently operate 70+ locations in GA
26+ year operating history
HQ in Atlanta, GA
Alimentation Couche-Tard is an international brand with 15,000+ locations in 20 countries (corporate)

Investment Highlights

  • GROCERY OUTPARCEL
  • LATEST CIRCLE K PROTOTYPE
  • 20-YR ABS NNN
  • BONUS DEPRECIATION
  • 200+ UNIT OPERATOR

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Financing By

Auto Service - Gas-Conv

Circle K Sale-Leaseback

Listing Price: $5,385,890

Cap Rate
6.25%
Tenant Name
Circle K
Guarantor
Franchisee Guarantee
Rentable SF
5,000
Lease Type
Absolute Net
Rent Per Square Feet
$67.32

Investment Highlights

  • GROCERY OUTPARCEL
  • LATEST CIRCLE K PROTOTYPE
  • 20-YR ABS NNN
  • BONUS DEPRECIATION
  • 200+ UNIT OPERATOR

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS Located at the entrance of The Village at Crosswinds A 22-acre retail development anchored by Renfroe’s Market grocery store & supplemented with 25,000 SF retail center Priority target area of Phenix City anchored by large military population from Fort Benning Direct frontage along Hwy 431 with immediate access to a newly installed 4-way traffic signal Directly across from Chattahoochee Valley Community College, Troy University – Phenix City Campus & The District at Phenix City Multiple points of ingress and egress Latest Circle K prototype building with desirable drive-thru endcap Limited competition in immediate area Only 1 other gas station within a 1-mile radius (unbranded) Large parcel size of ±3.28 acres Brand new construction scheduled to be completed in Q4 2023 OPTIMAL LEASE STRUCTURE Rare 20-year base term Four (4), 5-year renewal options Inflation hedge with 1.5% rent escalations every year throughout entire lease Triple Net (NNN) lease with no landlord responsibilities Tax advantages with accelerated & bonus depreciation due to fee simple ownership See page 6 for more details COLUMBUS, GA MSA Comprised of six (6) counties in GA & one (1) in AL Major employers Fort Benning – 45,000+ employees Annual economic impact of $4.75 B TSYS, a Global Payments Company – 4,075+ employees Aflac – 3,335+ employees Kia Motors Manufacturing Georgia – 2,700+ employees LARGE FRANCHISEE & DOMINANT BRAND Largest Alimentation Couche-Tard franchisee in US Expanding 200+ unit operator across 6 states (AL, AR, GA, LA, SC, TN) Currently operate 70+ locations in GA 26+ year operating history HQ in Atlanta, GA Alimentation Couche-Tard is an international brand with 15,000+ locations in 20 countries (corporate)

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

Financing By

MM Texture Background
MM Textured Background Lower