Auto Service - Gas-Conv

Circle K Sale Leaseback

5101 Vaughn Rd, Montgomery, AL 36116

Listing Price: $3,497,000

Cap Rate
5.80%
Tenant Name
Gas Express, LLC d/b/a Circle K
Guarantor
Franchisee Guarantee
Rentable SF
3,800
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$53.37

Investment Overview

FUNDAMENTAL LOCATION, VISIBILITY & ACCESS - Brand new 2021 construction - Direct access to a traffic signal with multiple points of ingress/egress - Flat topography with strong visibility in both directions along Vaughn Road - Located at the entrance of Corner Stone, a 266-unit apartment and townhome complex - Strong daytime population counts of ±12k (1-mi), ±69k (3-mi) & ±162k (5-mi) - Population growth in 1, 3 & 5-mile radii since 2000 with more projected growth by 2025 - Strong traffic counts of ±34,614 VPD along Vaughn Road, a 4-lane thoroughfare that runs east/west through SE Montgomery OPTIMAL LEASE STRUCTURE - Attractive 20-year sale leaseback - Four (4), 5-year renewal options - 10% rent escalations every 5 years throughout entire lease - Absolute triple net (NNN) lease with NO landlord responsibilities - Opportunity for accelerated depreciation based on fee simple building and gas facility use LARGE FRANCHISEE & DOMINANT BRAND - Expanding 93-unit operator across 4 states (AL, AR, GA, LA) › 45+ units directly owned by Tenant - Other brands include BP and Kangaroo Express - 26+ year operating history - Circle K is an international brand with 15,000+ locations in 20 countries (corporate) MONTGOMERY, AL ADVANTAGE - Home to Alabama's state capital - Gross Metro Product of $18.6 B (2019) - Low cost of living at 8% below national average (per Forbes) - Major industries include education and defense - Home to Maxwell Air Force Base › Educational and technological center of the US Air Force › Average fiscal economic impact of ±$2.6 B annually › Mission critical military installation as home to Air University › 17,000+ military, civil service, and contracted personnel & 34,000 students - Other Top Employers › Baptist Health: ±4,300 employees › Hyundai Motor Manufacturing Alabama, LLC: ±3,500 employees › Assembly plant for Sonata and Elantra sedans and Santa Fe SUV › HMMA and its suppliers have an annual economic impact of $4.82 B to the State of AL's economy › ALFA Insurance Companies: ±2,500 employees

Investment Highlights

  • Brand new 2021 construction
  • Direct access to a traffic signal with multiple points of ingress/egress
  • Located at the entrance of Corner Stone, a 266-unit apartment and townhome complex
  • 10% rent escalations every 5 years throughout entire lease
  • Absolute triple net (NNN) lease with NO landlord responsibilities
  • Expanding 93-unit operator across 4 states (AL, AR, GA, LA)

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    License(s): AL: 0000882980

    Alabama

Auto Service - Gas-Conv

Circle K Sale Leaseback

Listing Price: $3,497,000

Cap Rate
5.80%
Tenant Name
Gas Express, LLC d/b/a Circle K
Guarantor
Franchisee Guarantee
Rentable SF
3,800
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$53.37

Investment Highlights

  • Brand new 2021 construction
  • Direct access to a traffic signal with multiple points of ingress/egress
  • Located at the entrance of Corner Stone, a 266-unit apartment and townhome complex
  • 10% rent escalations every 5 years throughout entire lease
  • Absolute triple net (NNN) lease with NO landlord responsibilities
  • Expanding 93-unit operator across 4 states (AL, AR, GA, LA)

Investment Overview

FUNDAMENTAL LOCATION, VISIBILITY & ACCESS - Brand new 2021 construction - Direct access to a traffic signal with multiple points of ingress/egress - Flat topography with strong visibility in both directions along Vaughn Road - Located at the entrance of Corner Stone, a 266-unit apartment and townhome complex - Strong daytime population counts of ±12k (1-mi), ±69k (3-mi) & ±162k (5-mi) - Population growth in 1, 3 & 5-mile radii since 2000 with more projected growth by 2025 - Strong traffic counts of ±34,614 VPD along Vaughn Road, a 4-lane thoroughfare that runs east/west through SE Montgomery OPTIMAL LEASE STRUCTURE - Attractive 20-year sale leaseback - Four (4), 5-year renewal options - 10% rent escalations every 5 years throughout entire lease - Absolute triple net (NNN) lease with NO landlord responsibilities - Opportunity for accelerated depreciation based on fee simple building and gas facility use LARGE FRANCHISEE & DOMINANT BRAND - Expanding 93-unit operator across 4 states (AL, AR, GA, LA) › 45+ units directly owned by Tenant - Other brands include BP and Kangaroo Express - 26+ year operating history - Circle K is an international brand with 15,000+ locations in 20 countries (corporate) MONTGOMERY, AL ADVANTAGE - Home to Alabama's state capital - Gross Metro Product of $18.6 B (2019) - Low cost of living at 8% below national average (per Forbes) - Major industries include education and defense - Home to Maxwell Air Force Base › Educational and technological center of the US Air Force › Average fiscal economic impact of ±$2.6 B annually › Mission critical military installation as home to Air University › 17,000+ military, civil service, and contracted personnel & 34,000 students - Other Top Employers › Baptist Health: ±4,300 employees › Hyundai Motor Manufacturing Alabama, LLC: ±3,500 employees › Assembly plant for Sonata and Elantra sedans and Santa Fe SUV › HMMA and its suppliers have an annual economic impact of $4.82 B to the State of AL's economy › ALFA Insurance Companies: ±2,500 employees

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    License(s): AL: 0000882980

    Alabama

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