- The tenant executed a brand new 10-year lease renewal to the original 2007 lease, demonstrating their long-term commitment to the site
- The lease is signed by Circle K Stores, Inc., the largest chain of company-owned and operated (non-franchised) convenience stores in the United States
- Rare 6% rental increases every 5 years throughout the initial term and options to extend, growing NOI and hedging against inflation
- The lease also includes 5 (5-year) options to extend
- Tenant pays for CAM, taxes, insurance, and maintains all aspects of the premises
- Investor benefits from fee-simple ownership of the building and land
- Fee simple ownership of a convenience store qualifies for accelerated depreciation
- No landlord responsibilities
Investment Offering
Huntsville, AL - Circle K
11040 Memorial Parkway SW | Huntsville, AL 35803
$4,947,000
Price5.25%
Cap Rate$259,724
NOI4,590
± SF Offering GLADescription
Location
- Circle K is fronting Memorial Parkway, the primary North/South thoroughfare serving Huntsville and the immediate trade area
- Memorial Parkway has 50,000 vehicles passing by daily
- Subject property is surrounded by national/credit big box retailers such as Walmart Supercenter, Lowe’s, Sam’s Club, Home Depot, Publix, and more
- Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover synergy to the asset
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |
Contact
Patrick Nutt
Sr Managing Principal & Co-Head of National Net Lease
954.302.7365954.302.7365[email protected]FL #: BK3120739