Palmetto, FL - Circle K

Description:

New 15-Year Lease | Corporate Signed Lease |Rare 5% Rental Increases | Brand New Construction
• New 15-year ground lease with 7 (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 throughout the initial term and options to extend, increasing 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

Signalized, Hard Corner Intersection | Near US Highway 41 | Palmetto High School | Excellent Visibility & Access
• Circle K is strategically positioned at the signalized, hard corner intersection
of 8th Avenue and 17th Street, averaging more than 37,000 combined vehicles passing by daily
• Located approximately 1 mile Northwest from the on/off ramp of US 41, a major North-South highway that connects to Interstate 275 as well as leading to Tampa
• Subject property is adjacent to Palmetto High School (2,000+ students)
• The asset benefits from significant street frontage and multiple points of access, providing ease and convenience for customers
Strong Demographics in 5-mile Trade Area | Population Growth
• More than 20,000 residents and 5,800 employees support the trade area
• Features an average household income of $49,272
• Within a 3-mile radius of the site, the population is expected to increase by 1.46% annually

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Listing ID: a288X0000065wXhQAI