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Tampa, FL - Circle K C-Store & Car Wash
7767 Land O'Lakes Blvd | Land O' Lakes, FL 34638
$4,333,333
Price4.5%
Cap Rate$195,000
NOI5,394
± SF Offering GLA1.95
± AC Land AreaDescription
New 20-Year Lease | Options to Extend | Rare 5% Rental Increases | Brand New Construction
• New 20-year ground lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease is signed by Circle K Stores, Inc., an investment grade tenant (S&P: BBB), nationally recognized, and an established convenience store and gas brand with over 15,100+ locations
• The ground lease features 5% rental increases every 5 years, growing NOI and hedging against inflation
• Brand new construction with high-quality materials and distinct Circle K design elements
Absolute NNN Ground Lease | Land Ownership | Zero Landlord Responsibilities | No State Income Tax
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Investor benefits from fee-simple ownership of the land
• Ideal, low-management investment for a passive investor in a state with no state income tax
Location
Fronting Land O’ Lakes Blvd | Primary Thoroughfare | Connerton Development | Excellent Visibility & Access
• Strategically fronting Land O’ Lakes Blvd, averaging 42,000 vehicles passing by daily
• Land O’ Lakes Blvd is the primary North-South retail and commuter thoroughfare serving Land O’ Lakes and the Tampa MSA
• Directly across from the entrance to Connerton, a new development featuring a mix of residential, retail and office space, and a future government center
• Connerton will consist of 1,800 acres and include 5,000 residential units, 730,000 SF of retail, 1,400,000 SF of office, and much more (see page 16)
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site
• The asset benefits from significant street frontage and multiple points of access, providing ease and convenience for customers
Local Demographics in 5-mile Trade Area | Population Growth
Contact
Patrick Nutt
Sr Managing Principal & Co-Head of National Net Lease
954.302.7365954.302.7365[email protected]FL #: BK3120739