McAllen, TX - Circle K

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Circle K investment property located in McAllen, Texas. The tenant, Circle K Stores, Inc recently signed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Circle K is a subsidiary of Alimentation Couche-Tard is a global leader in convenience and mobility, operating in 29 countries and territories, with close to 17,300 stores.

The Circle K is located at the signalized, hard corner intersection of Jackson Road and E El Rancho Road which combine to average over 45,000 vehicles passing by daily. The asset is less than 2 miles from Ridge Crossing Shopping Center, which features national/credit tenants including Target, DICK’S, Total Wine, Ross, HomeGoods, Jersey Mike’s, and many others. In addition, the Circle K is also near a Walmart and Sam’s Club anchored center with other tenants including Texas Roadhouse, Whataburger, Wendy’s, Wells Fargo, and Club Car Wash. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Costco, Lowe’s, Best Buy, Topgolf, Raising Cane’s, Chick-fil-A, and more, further increasing consumer traffic to the site. The immediate trade area is supported by a population of over 189,300 residents and 89,300 employees with an average household income of $108,673 within 1 mile.

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Listing ID: a28TP000002KrdJYAS