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Circle K 3955 Johnston Rd 2,955 SF Retail Building Port Alberni, BC V9Y 5N4 $2,150,000 CAD ($727.58 CAD/SF) 6.05% Cap Rate
Investment Highlights
- Occupied by Circle K, a wholly-owned subsidiary of Alimentation Couche-Tard Inc. (TSX: ATD), one of the world's largest convenience and fuel retailers
- Dual access points at the signalized intersection of Johnston Road (15,500 VPD) and Tebo Avenue, Port Alberni's primary commercial corridor.
- Port Alberni is the last major commercial stop for travellers heading to Tofino, Ucluelet, Pacific Rim National Park, and Sproat Lake.
- Current term running through April 2033 with annual rental escalations baked into the contract, plus four further five-year renewal options.
- On-site drive-thru ATM differentiates the offering within the convenience retail sector and contributes directly to customer stickiness.
- Esso-branded gas bar with all fuel infrastructure owned and operated by the Tenant at their sole cost and expense.
Executive Summary
The Vendor has exclusively retained Marcus & Millichap to offer for sale its 100% freehold interest in 3955 Johnston Road, Port Alberni, British Columbia (the "Subject Property"). The Subject Property is a single-tenant, absolute triple-net leased convenience retail and fuel asset occupied by Circle K (Alimentation Couche-Tard Inc.), with annual rental escalations through the current term expiring April 2033 and four further five-year renewal options. Positioned on a signalized corner along (Highway 4) Johnston Road (15,500 VPD), the city's primary commercial corridor and the gateway to Vancouver Island's west coast, the offering delivers stable, passive income backed by an institutional-grade covenant, complemented by an integrated fuel operation and drive-thru component.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
2,955 SF
Building Class
C
Year Built
2003
Price
$2,150,000 CAD
Price Per SF
$727.58 CAD
Cap Rate
6.05%
NOI
$130,075 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.50 AC
Zoning
C4 - Highway Commercial District
Parking
19 Spaces (6.43 Spaces per 1,000 SF Leased)
Frontage
Fairly walkable
40/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
1 of 8
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Circle K | 3955 Johnston Rd
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