Circle K - Gaffney SC

403 Shelby Highway
Gaffney, SC 29340


JLL is pleased to offer for sale the fee-simple interest in a single-tenant, freestanding Circle K gas station (the “Property” or “Asset”) located along the highly trafficked Interstate 85. The Property is subject to a recently extended, absolute triple-net (“NNN”) lease with zero landlord responsibilities to Circle K Stores, Inc. (the “Tenant” or “Circle K”), a leading international convenience store chain. This offering represents an outstanding opportunity to acquire a strong performing, valuable property, which is leased to an excellent credit tenant.
  • Primary Broker

    Peter Furest - Net Lease Broker
    Peter Furest
    (212) 812-5802

  • Secondary Broker(s)

    David Maloy - Net Lease Broker
    David Maloy
    212 812 5957

  • In-State Licensee

    Kris Cooper - Net Lease Broker
    Kris Cooper


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Investment Highlights
• Excellent Credit Tenant - Circle K Stores Inc. has a "BBB" S&P Rating and is Investment Grade.
• Strong Store Performance and Desirable Lease Structure as Evidenced by the Recent 10 Year Lease Extension on an Absolute NNN Basis.
• Outstanding Regional Accessibility and Visibility along Interstate 85 with more than 50,000 VPD.
Property Type Retail
Property Address 403 Shelby Highway
Gaffney, SC 29340
Market SC-Greenville/Spartanburg
Land In Acres 5.73
Building Size 6,049 Square Feet
Primary Use Convenience Store
Year Built 2001
Tenancy Single-Tenant
Price $5,200,000
Price PSF $859.65
Cap Rate 5.77%
Current NOI $300,000
Tenant Name Circle K
Guarantor Circle K Stores Inc.
Credit Rating (S&P) BBB
Lease Type NNN
Annual Rent $300,000
Rent PSF $49.59
Rent Escalations 5% Every Five Years in the Option
Options Four Five-Year Options
Lease Start Date 7/1/2016
Lease Expiration Date 6/30/2026
Remaining Term 9.6Yrs