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1909 E Alsobrook StPlant City, FL 33563
New 20 Year Abs NNN Ground Lease - Circle K
Asset ClassRetail
Cap Rate5.5%
Deal Size: $3.36 MYear Built: 2024Land: 3.06 AcresAccess Data Room
New Construction Investment Opportunity - 20 Yr Absolute NNN Ground Lease
overview of deal

Overview

Price: $3,363,000

Cap Rate: 5.50%

Tenant: Circle K

Building Size: 5,200

Lot Size (AC): 3.06

Year Built: 2024

Remaining Lease Term: 20 Years

Lease Type: Absolute Triple-Net (NNN) Ground Lease

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Investment Highlights

  • New 20 Year Absolute Triple-Net (NNN) Ground Lease with zero landlord responsibilities. The Lease Features 5% Rental Increases Every 5-Years and six five-year options.
  • The Landlord is expected to deliver the subject property to the Tenant (Circle K) on 4/1/2024 which commences the Construction Period (180 days). Rent shall commence 30 days following the expiration of the Construction Period or Projected 10/28/2024. Please see the following page for more details or contact the Listing Broker.
  • Investment Grade Corporate Lease with Circle K/Alimentation Couche-Tard (S&P BBB). Circle K/Couche-Tard achieved $71.9B in total revenue during FY 2023 and operates 14,486 locations in 24 countries as of FY 2023.
  • Located in Florida's Fastest Growing Industrial Corridor, Plant City, FL. 143MM SqFt of Industrial Space exists between Tampa & Orlando along I-4. 13.3% of existing industrial inventory has been built in the last three years.
  • Subject Property features eight (8) high-speed diesel pumps dedicated to commercial vehicles and trucks. Distribution Centers within Circle K's immediate proximity include Gordon Food Service, Home Depot, Sysco, Plastipak, and International Paper Company.
  • Across the street from a new 505,160 SqFt Class A industrial Development Lakeside Logistics.
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1909 E Alsobrook StPlant City, FL 33563

Contact Us

Drew IsaacSenior Managing Director Investments(303) 328-2048drew.isaac@marcusmillichap.com
Ryan NeeFL Broker of Record
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Inquire

Listing provided by Revere CRE