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Circle K Ground Lease 1415 Street Johns Heritage Pky NW 5,200 SF Retail Building Palm Bay, FL 32907 $5,420,961 CAD ($1,042.49 CAD/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- New 15-year absolute NNN ground lease to Circle K, one of the largest chains of company-owned convenience stores in the U.S
- Tenant covers all taxes, insurance, maintenance, roof, structure, and parking lot, providing a fully passive investment.
- Circle K is experiencing growth in various areas, including store count, in-store offerings, and fuel site rebranding.
- 7.5% rental increases every five (5) years in initial term and option periods, ensuring consistent income growth
- Circle K operates more than 16,000 locations globally, demonstrating financial stability and brand resilience.
EXECUTIVE SUMMARY
High-visibility and easily accessible location at the intersection of Emerson Drive Northwest and St. Johns Heritage Parkway. Circle K operates more than 16,000 locations globally, demonstrating financial stability and brand resilience. The five-mile radius serves an affluent and populous region of 65,531 residents, with an average annual household income of $107,348. Built in 2026, the 5,200 SF property is designed specifically for Circle K’s operational needs. The absolute NNN ground lease structure transfers all maintenance and expense obligations to the tenant, including the roof, structure, and parking lot. Projected population and income growth within the 1-, 3-, and 5-mile radii support long-term stability for both Circle K and the Palm Bay market.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Service Station
Building Size
5,200 SF
Building Class
C
Year Built
2026
Price
$5,420,961 CAD
Price Per SF
$1,042.49 CAD
Cap Rate
5%
NOI
$271,048 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
2.15 AC
Parking
33 Spaces (6.35 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 28-36-21-00-00506.0-0000.00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $805 CAD |
PROPERTY TAXES
Parcel Number
28-36-21-00-00506.0-0000.00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$805 CAD
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Circle K Ground Lease | 1415 Street Johns Heritage Pky NW
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