Evans, GA - Circle K

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an asbolute NNN leased, Circle K investment property located in Evans, Georgia. The tenant, Circle K Stores, Inc., recently executed a brand new 10-year lease extension with 4 (5-Year) and 2 (10-Year) options to extend, demonstrating their commitment to the site. The lease features 7.50% rental increases every 5 years of the current term and at the beginning of option periods 1-4, 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. The site is currently undergoing a remodel and includes a car wash.

The Circle K is located at the signalized, hard-corner intersection of Furys Ferry Rd and Mullikin Rd, combining to average over 35,800 vehicles passing by daily. Furys Ferry is a major retail thoroughfare serving the city of Evans. The site is located just 2 miles from Evans Towne Center, the city’s largest retail area, complete with Target, Publix, Kohl’s, Walmart Supercenter, Home Depot, Academy, and more. The property is also located approximately 2 miles from a 50,000+ square foot Walmart Neighborhood Market anchored center, which features a strong lineup of several national and local tenants. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Lowe’s Home Improvement, Sam’s Club, Best Buy, ALDI, Kroger, Chick-fil-A, 24-hour Walmart Supercenter, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 82,000 with an average household income of $143,341.