Daphne, AL - Circle K

Description:

• New 15-year ground lease with 7 (5-year) options to extend, showing their long term commitment to this location
• The lease is corporate signed by Circle K Stores, Inc., an investment grade tenant with a S&P: BBB rating
• The ground lease features a 5% rental increase year 11 and at the beginning of each option thereafter
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities resulting in an ideal managment free investment for a passive investor
• Investor benefits from leased fee interest (land ownership)

• Circle K is strategically located at the signalized, hard corner intersection of State Hwy 181 and Daphne Road averaging 38,800 vehicles per day
• The site benefits from nearby direct on/off ramp access to Interstate 10 (69,200 VPD), the primary route providing access to and from Mobile, Alabama
• Daphne High School is located approximately three miles from the subject property and experiences a student population count beyond 1,000 individuals
• Other nearby national/credit tenants include, Target, O’Reilly Auto Parts, Staples, Publix, The Home Depot, Bass Pro Shop, Lowe’s, Sam’s Club, Walmart Supercenter and more

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Listing ID: a28TP0000005ftlYAA