STNL Circle K - 15 Yr Absolute NNN Lease

Highlights:

• Corporate-backed Circle K ground lease to a BBB+ rated parent with 13,700+ global locations and decades of proven retail and fuel operations
• Newly executed 15-year Circle K ground lease with nine 5-year renewal options, offering up to 60 years of potential term and strong long-term investor
• Absolute NNN ground lease with zero landlord responsibilities—tenant covers all maintenance, operations, taxes, utilities, insurance, and improvements
• Lease includes 5% rent increases every five years, providing rising cash flow, value appreciation, inflation protection, and stronger long-term return
• New 2025-26 prototype Circle K with C-store and 6 fuel pumps, no deferred maintenance, modern improvements, & dual income from retail and fuel.
• Circle K with gas on a high-traffic Boulder Hwy corner near major retailers in upscale Henderson, offering strong visibility and easy access

Description:

LISTED BY DUNBAR COMMERCIAL LLC.... WILLIAM F. DUNBAR ....NV Lic# B.1002946

Dunbar Commercial LLC in cooperation with Faris Lee Investments (Out of State Cooperating Broker) is pleased to present the unique opportunity to acquire a newly constructed, prototypical Circle K convenience store and a six pump fuel station. The investment is anchored by a corporate-executed lease with Circle K Stores Inc., the world’s second-largest convenience store chain and a wholly-owned subsidiary of Alimentation Couche-Tard with an Investment Grade Credit Rating (S&P BBB+), providing exceptional tenant reliability and financial stability.
The Absolute Triple Net (NNN) ground lease, offers unparalleled ease of management for the investor. Circle K is fully responsible for all property operations, including all repairs and maintenance for the building, roof, parking lot, and landscaping. The tenant also directly pays for property taxes, utilities, and insurance. This means zero investor responsibilities, making it an ideal, passive investment suitable for out-of-state or hands-off owners seeking consistent, stable income.
The ground lease structure offers long-term security as it features a 15-year primary term, recently executed by Circle K Stores Inc., coupled with nine (9), five (5) year lease options, providing a potential total lease term of sixty (60) years. This extended term ensures sustained stability for the investor. Furthermore, the lease includes a growing income stream with 5% rental increases every 5 years, which is designed to increase cash flow, ensure value appreciation, and provide a strong hedge against inflation, ultimately boosting the return on investment.
Strategically located on high-traffic Boulder Highway in Henderson Nevada. The property benefits from strong vehicular traffic (±24,198 VPD on Boulder Hwy, ±20,142 VPD on East Galleria Dr), excellent visibility at a signalized intersection, and close proximity to major retailers including the Galleria at Sunset mall anchored by Dillard’s, Macy’s, JC Penney, Costco, Kohls, and Dick’s Sporting Goods. The newly constructed facility features the latest prototype design, ensuring no deferred maintenance and enhancing sales volumes from its two income-producing businesses: the C-store and fuel sales.

Las Vegas, Nevada:
Active Economic Development and Industry Diversification
Tourism and Entertainment: As the “Entertainment Capital of the World,” Las Vegas continues to lead in tourism, with constant development of new resorts, entertainment venues, and attractions, driving significant economic activity
Sports and Events: The arrival of the Las Vegas Golden Knights (NHL) and the Las Vegas Raiders (NFL), along with the construction of Allegiant Stadium and T-Mobile Arena, has significantly boosted the city’s sports and events sector, attracting major events and corporate investments. Furthermore, the planned relocation of the Oakland Athletics (MLB) to Las Vegas, with the construction of a new stadium, is expected to further enhance the city’s sports presence and stimulate economic growth
Technology and Logistics: Las Vegas is increasingly attracting data centers and logistics companies due to its favorable climate, strategic location, and robust infrastructure

Las Vegas Metropolitan Growth
Las Vegas Metropolitan Past Growth: Over the past decade, the Las Vegas metropolitan area has experienced a robust average annual growth rate of 2.9%, demonstrating its enduring appeal
Las Vegas Metropolitan Future Growth: Looking ahead, projections indicate a further 10% population increase in the next 10 years, reaching a total population of ~3.3 million and solidifying Las Vegas’s position as a thriving urban center
Median Age: The Las Vegas metro area boasts a median age of 39, demonstrating a balanced and growing demographic profile to facilitate ongoing growth in the area

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