Pensacola, FL - Circle K

Description:

SRS National Net Lease is pleased to present the exceptional opportunity to acquire the fee simple interest in a well-located Circle K property in Pensacola, Florida. The asset is secured by a long-term absolute NNN lease with Circle K Stores, Inc., a globally recognized convenience store operator. In a strong display of commitment to the site, the tenant exercised a 10-year lease extension in 2020, leaving approximately five years remaining on the current term, along with two (5-year) extension options. The lease provides for 5% rental increases every five years, including during option periods, offering a predictable and growing income stream that serves as an effective hedge against inflation. With zero landlord responsibilities, this asset represents a truly passive, management-free investment—ideal for out-of-state or hands-off investors seeking long-term stability and minimal operational oversight.

The Circle K is located at the highly visible, signalized hard-corner intersection of N Pace Boulevard and W Fairfield Drive, with a combined traffic count of over 54,800 vehicles per day (VPD). These two corridors are primary thoroughfares in Pensacola, providing excellent connectivity and steady daily commuter traffic through the area. The property benefits from strong surrounding retail synergy and sits within an established commercial corridor. Located just 3.5 miles from Pensacola International Airport, the site attracts both local and transient consumer traffic. It is also in close proximity to Baptist Hospital, a major regional healthcare facility with 492 beds and Level II trauma certification, which contributes significantly to daytime population and foot traffic. The immediate area is supported by a wide range of national and regional retailers, fast food operators, and service-based businesses, contributing to consistent consumer draw. Pensacola is also a major Gulf Coast tourist destination, home to 18 miles of sugar-white sand beaches, which drive seasonal demand and increase the area’s economic activity.