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Auto Service - Gas-Conv

Circle K Sale Leaseback

1684 S College St, Auburn, AL 36832

Listing Price: $5,700,000

Cap Rate
5.50%
Tenant Name
Gas Express, LLC d/b/a Circle K
Guarantor
Franchisee Guarantee
Rentable SF
5,630
Lease Type
Absolute Net
Rent Per Square Feet
$55.65

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Strategically located at the signalized intersection of W Longleaf Dr & S College St - ±2.6 miles south of Auburn University - Large store site with 10 fueling stations & 3,802 SF c-store - C-store building will contain an additional 1,828 SF leased to Guthrie’s with drive-thru - Located within a Qualified Opportunity Zone for additional tax advantages - High growth market with population increases of 282% (1-mi), 36% (3-mi) & 43% (5-mi) since 2000 - Strong daytime and permanent density: › 1-Mi: 7,167 & 7,240 › 3-Mi: 35,985 & 60,689 › 5-Mi: 63,832 & 86,365 - Flat topography with phenomenal visibility - Multiple points of ingress and egress OPTIMAL LEASE STRUCTURE - Attractive 20-year sale-leaseback - Four (4), 5-year renewal options - 10% rent escalations every 5 years throughout entire lease - Triple net (NNN) lease with NO landlord responsibilities - Tax advantages with accelerated depreciation due to fee simple ownership LARGE FRANCHISEE & DOMINANT BRAND - Largest Circle K franchisee - Exclusive Circle K franchisee in Metro Atlanta - Expanding 93+ unit operator across 4 states (AL, AR, GA, LA) › Currently operate 50+ Circle Ks in Georgia - 26+ year operating history - Circle K is an international brand with 15,000+ locations in 20 countries (corporate) AUBURN, AL ADVANTAGE - Auburn-Opelika, AL MSA contains ±165,000 people - #17 Best-Performing MSA in the U.S. (Milken Institute, 2021) - #2 Best-Performing MSA in Alabama (Milken Institute, 2021) - Home to Auburn University › 30,000+ students & 1,330 faculty › 2nd largest university in the state › $5.6 B annual economic impact on the state › #1 ranked in state of AL and among top 50 public universities in US (US News & Work Report, 2020)

Investment Highlights

  • Strategically located at the signalized intersection of W Longleaf Dr & S College St
  • ±2.6 miles south of Auburn University
  • Located within a Qualified Opportunity Zone for additional tax advantages
  • C-store building will contain an additional 1,828 SF leased to Guthrie's with drive-thru
  • Large store site with 10 fueling stations & 3,802 SF c-store
  • Largest Circle K franchisee

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Auto Service - Gas-Conv

Circle K Sale Leaseback

Listing Price: $5,700,000

Cap Rate
5.50%
Tenant Name
Gas Express, LLC d/b/a Circle K
Guarantor
Franchisee Guarantee
Rentable SF
5,630
Lease Type
Absolute Net
Rent Per Square Feet
$55.65

Investment Highlights

  • Strategically located at the signalized intersection of W Longleaf Dr & S College St
  • ±2.6 miles south of Auburn University
  • Located within a Qualified Opportunity Zone for additional tax advantages
  • C-store building will contain an additional 1,828 SF leased to Guthrie's with drive-thru
  • Large store site with 10 fueling stations & 3,802 SF c-store
  • Largest Circle K franchisee

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Strategically located at the signalized intersection of W Longleaf Dr & S College St - ±2.6 miles south of Auburn University - Large store site with 10 fueling stations & 3,802 SF c-store - C-store building will contain an additional 1,828 SF leased to Guthrie’s with drive-thru - Located within a Qualified Opportunity Zone for additional tax advantages - High growth market with population increases of 282% (1-mi), 36% (3-mi) & 43% (5-mi) since 2000 - Strong daytime and permanent density: › 1-Mi: 7,167 & 7,240 › 3-Mi: 35,985 & 60,689 › 5-Mi: 63,832 & 86,365 - Flat topography with phenomenal visibility - Multiple points of ingress and egress OPTIMAL LEASE STRUCTURE - Attractive 20-year sale-leaseback - Four (4), 5-year renewal options - 10% rent escalations every 5 years throughout entire lease - Triple net (NNN) lease with NO landlord responsibilities - Tax advantages with accelerated depreciation due to fee simple ownership LARGE FRANCHISEE & DOMINANT BRAND - Largest Circle K franchisee - Exclusive Circle K franchisee in Metro Atlanta - Expanding 93+ unit operator across 4 states (AL, AR, GA, LA) › Currently operate 50+ Circle Ks in Georgia - 26+ year operating history - Circle K is an international brand with 15,000+ locations in 20 countries (corporate) AUBURN, AL ADVANTAGE - Auburn-Opelika, AL MSA contains ±165,000 people - #17 Best-Performing MSA in the U.S. (Milken Institute, 2021) - #2 Best-Performing MSA in Alabama (Milken Institute, 2021) - Home to Auburn University › 30,000+ students & 1,330 faculty › 2nd largest university in the state › $5.6 B annual economic impact on the state › #1 ranked in state of AL and among top 50 public universities in US (US News & Work Report, 2020)

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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