Scottsdale, AZ - Circle K

Description:

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased Circle K gas station and car wash investment property located in Scottsdale, Arizona. The tenant, Circle K Stores Inc., recently exercised its first 3-year option, extending
the current lease term through September 2028, demonstrating its continued commitment to the site. The tenant pays below-market rent relative to comparable Scottsdale properties, with four additional 5-year options featuring 5% rental increases, followed by two 10-year options at fair market value. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. The asset also offers potential accelerated depreciation benefits through cost segregation and bonus depreciation (see page 21 for details). The location demonstrates strong operating performance with approximately 509,500 annual visits according to Placer.ai, ranking in the 89th percentile of Circle K locations nationwide and 82nd percentile among Circle K locations in Arizona.

The Circle K is strategically located along E. Shea Boulevard (52,500 VPD), immediately adjacent to the signalized interchange with the Pima Freeway/State Highway 101 (143,100 VPD), providing excellent visibility and access within a primary Scottsdale retail corridor. The property is positioned near Scottsdale Fiesta Shopping Center and surrounded by national/credit tenants including Home Depot, Marshalls, Fry’s, PetSmart, Chick-fil-A, Starbucks, McDonald’s, Sprouts Farmers Market, Walgreens, and more. The 5-mile trade area is supported by approximately 154,693 residents with an average household income exceeding $206,000, demonstrating the affluent demographics surrounding the site.

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Listing ID: a28TP000003V93hYAC