Circle K
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Marvin DeLaura

Senior Director

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PROPERTY ADDRESS

3525 SW 34th St., Gainesville, FL 32608

PROPERTY INFORMATION

Price:
$3,743,200
Cap Rate:
5.25%
Term Remaining:
3+ years Years
Year Built:
2002
Status:
Available

INVESTMENT HIGHLIGHTS

  • Busy 16 Pump Location Open 24 Hours 7 Days a Week
  • New Build to Suit in 2002
  • 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 on busy SW 34th Street in Gainesville, 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% rent increases every 5 years.

The subject property is located near the entrance to the University of Florida with more than 50,000 enrollment. SW 34th Street is a major re-tail corridor and the subject property is surrounded by many national tenants including: Kohls, Walgreens, CVS, Autozone, Dollar General, McDonald’s, Taco Bell, Wendy’s, Chick-Fil-A, 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.