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CIRCLE K GROUND LEASE, Yulee, FL

CIRCLE K GROUND LEASE

Price $3,536,842
Cap Rate
NOI
Lease Term 20 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof And Structure.
Rental Increases 5% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 5,361 SF
Lot Size 3.50 Acres (152,460 SF)
Status Under Contract
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

NEW 20-YEAR ABSOLUTE NNN GROUND LEASE
» 5% rental increases every five years, providing an excellent hedge against inflation
» Absolute NNN ground lease requires no landlord management, ideal for an out of area investor
» Circle K is the largest chain of company-owned (non-franchised) convenience stores in the United States

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» Located at the signalized hard corner of Gene Lasserre Boulevard and The Buccaneer Trail, with excellent visibility and access to 41,000 vehicles per day in front of the site
» 29,971 residents within a five-mile radius of the property, with a projected population increase of 25 percent within the next five years
» Central location in an affluent area, with an average household income of $95,111 within a five-mile radius of the site
» Projected 15 percent AHI increase within one mile of the site in the next five years, poising Yulee and the Central K location for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Immediately adjacent to the Shoppes at Amelia Concourse, a major Yulee shopping center featuring 16 stores and 357,000 SF of retail space
» Central location near Yulee Elementary School, Yulee Primary School, Yulee Middle School, and Yulee High School (combined 4,030 students)
» Surrounded by a strong mix of well-established local and national retailers, including Pizza Hut, Panda Express, Whataburger, The Home Depot, Panera Bread, Winn-Dixie, and many more
» Gateway to the Atlantic Ocean and numerous nearby tourist attractions, including Main Beach Park, Burney Park, and Amelia Island ($800 million generated annually in Nassau County tourist revenue)
» 15-minute drive from the Florida-Georgia State Line, significantly increasing tourist traffic to the site

NEW 2020 CONSTRUCTION IN TAX FREE STATE
» Brand new 2020 construction built to Circle K’s latest prototype
» Location includes a freestanding convenience store and canopied gas and diesel pumps for added customer convenience for all commuter traffic
» Florida has no state income tax


Property Description

SOLD

The property is strategically located at the signalized hard corner of Gene Lasserre Boulevard and The Buccaneer Trail (State Route 220), with excellent visibility and access to 41,000 vehicles per day in front of the site. The property is located in a densely populated and growing area, with 29,971 residents living within a five-mile radius of the site, with a projected population increase of 25 percent within the next five years. Visibility is increased by the property’s central location in an affluent area, with an average household income of $95,111 within a five-mile radius of the site. The property is primed to grow along with the surrounding area, with a projected 15 percent average annual household income increase within one mile of the site in the next five years.

The property benefits from its proximity near large employers, retailers, and community hubs. The location is immediately adjacent to the Shoppes at Amelia Concourse, a major Yulee shopping center featuring 16 stores and 357,000 SF of retail space. The site is centrally located near Yulee Elementary School, Yulee Primary School, Yulee Middle School, and Yulee High School (combined 4,030 students), increasing lunch-time traffic to the site. Surrounding the location is a strong mix of well-established local and national retailers, including Pizza Hut, Panda Express, Whataburger, The Home Depot, Panera Bread, Winn-Dixie, and many more. Yulee serves as a common gateway to the Atlantic Ocean and numerous nearby tourist attractions, including Main Beach Park, Burney Park, and Amelia Island ($800 million generated annually in Nassau County tourist revenue). The site is also a 15-minute drive from the Florida-Georgia State Line, significantly increasing commuter and tourist traffic to the site.

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