Circle K
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Marvin DeLaura

Senior Director

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PROPERTY ADDRESS

2425 Mayport Rd., Atlantic Beach, FL 32233

PROPERTY INFORMATION

Price:
$2,994,000
Cap Rate:
5.25%
Term Remaining:
3 years Years
Year Built:
2001
Status:
Available

INVESTMENT HIGHLIGHTS

  • Busy Sixteen Pump Location Open 24 Hours 7 Days a Week
  • Standard & Poors Credit Rated Tenant (BBB)
  • Minimal Landlord Responsibility | Slab & Structure Only
  • Four 5 year options after primary term
  • Florida is a No Income Tax State

INVESTMENT SUMMARY

Fortis Net Lease is proud to present a free standing Circle K Gas Station and Convenience Store at the intersection of Mayport Rd. and Assisi Ln. in Atlantic Beach, FL. There are 3+ years remaining on an original 20 year modified NNN lease requiring minimal landlord responsibilities. The Landlord is only responsible for the slab and structure while the Tenant pays all other expenses including tax, insurance, CAM Roof, Parking lot, and HVAC. The lease has Four 5 year option periods after original term which feature 5% increases every 5 years.

The subject property is located along a major retail corridor and is surrounded by many national tenants including: Walgreens, Dollar Tree, Arby’s, Wendy’s, Sonic, Shell, Dunkin Donuts and more. This location was recently re-branded from Kangaroo to Circle K indicating Circle K’s commitment to this site. The non stop customer traffic visiting this location should assure any Investor that Circle K will exercise their options and lease this site for many more years.