Circle K Ground Lease
5,200 SF | Retail Building | Rockport, TX 78382 | $3,053,000 ($587/SF) | 4.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,053,000
- Property Type
-
Retail
- Square Feet
- 5,200 SF
- Price / Square Foot
- $587
Listing Contacts
Michael Yuras
Verified Profile
Scott Crowle
Verified Profile
Ryan Forsyth
Verified Profile
Vincent Aicale
Verified Profile
- Property Info
Property Overview
This Circle K is located conveniently at the signalized hard corner of Henderson Street and Texas State Highway 35. Texas State Highway 35 is a major north-south Texas thoroughfare with excellent visibility and access to 19,966 vehicles per day directly in front of the site.
The property is located in a populous and affluent area, with a population of 35,188 within 15 miles and an average annual household income of $102,828 within a one-mile radius, creating a stable customer base. This Circle K is just three miles from Aransas County Airport, attracting significant crossover shopping to the location.
The site is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, H-E-B, Whataburger, McDonald’s, Popeyes, Pizza Hut, and many more. The property is a commonly traveled gateway to Corpus Christi, a premier Texas attraction and the eighth-most populous city in Texas (316,239 residents).
The property is located in a populous and affluent area, with a population of 35,188 within 15 miles and an average annual household income of $102,828 within a one-mile radius, creating a stable customer base. This Circle K is just three miles from Aransas County Airport, attracting significant crossover shopping to the location.
The site is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, H-E-B, Whataburger, McDonald’s, Popeyes, Pizza Hut, and many more. The property is a commonly traveled gateway to Corpus Christi, a premier Texas attraction and the eighth-most populous city in Texas (316,239 residents).
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Grocery/Convenience Store, Service, Storefront
- Lot Size (sq. ft)
- 44,431 SF
Highlights
- New 20-year absolute NNN ground lease to an investment-grade tenant, rated “BBB” by Standard & Poor’s
- 7.5% rental increases every five (5) years during initial term and option periods
- Circle K is one of the largest chains of company-owned convenience stores in the United States, with over 14,200 locations
- Brand new 2024 high-quality construction featuring a freestanding Circle K convenience store with ten (10) canopied gas pumps
- Texas is an income tax-free state
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