Year Build: 0
Building Size: 3,500 SqFt.
No of Stories: 1
Total Lot Area: 1.00 Acre
No of Parking: 0
No of Total Units: 1
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Heating and Cooling
Building Class: Not Specified
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 100%
Full Description
Circle K is located at 5202 Highway 62 Jeffersonville, Indiana, just across the Ohio River from Louisville, Kentucky. The subject property is an approximate 3500-square foot, single-tenant building on an estimated 1.29 acres of land. There are approximately 75,647 people within a five-mile radius and the average household income exceeds $70,300.
Located at a signalized intersection, Circle K is visible to approximately 29,526 vehicles per day. This ideal location is visible from the freeway and on a main thoroughfare through Jeffersonville. Major neighboring tenants include Rite Aid, Walgreens, Meijer, Zaxby's, Mcdonalds and Kohl's. In 2014, Circle K's rent to sales ratio was 6.29 percent and rent to fuel sales ratio was 2.36 percent.
Circle K has 11 years and 9 months left on a absolute triple-net (NNN) lease with no landlord responsibilities and is corporate backed by Mac's Convenient Stores LLC, A Delaware limited liability company. There are five, 5-year renewal options remaining with 7.5 percent increases in each option.
Circle K is a part of Alimenation Couche-Tard of Canada. The Company's operations currently include a network of 5,883 stores, 4,142 of which offer petroleum products, in 43 American States, the District of Columbia and ten Canadian provinces. Other operations include Europe, Mexico, Japan, China and Indonesia. Couch-Tard stores serve more than 25 million visitors per week and employ 53,000 staff members.
The Subject property is guaranteed by Mac’s Convenient Stores, LLC. The first Mac's store was opened in Richmond Hill, Ontario in 1961. Expansion throughout Canada brought Mac's number of stores to 825 locations in 1986. Further expansion and restructuring, and eventually being acquired by Alimentation Couche-Tard, has made them the largest national convenience store network in Canada. After launching into the US market between 2001-2004, Couche-Tard has been counted as the second largest convenience store chain in North America since 2007.