This Retail Property is Off-Market.

1559 East Market Street
Akron, OH 44305 ·

2,800 SF · Retail For Sale

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Circle K

Price N/A Cap Rate 7.25%
Building Size 2,800 SF Tenancy Single
Property Type Retail Year Built 1995
Property Sub-type Service/Gas Station Lot Size 44,221 SF
Property Use Type Investment
Listing ID: 14873550 Date Created: 11/07/2006 Last Updated: 02/27/2007

Description

This investment is a true NNN lease, as the tenant pays all expenses. The lease is a 17-year NNN lease and commences at close of escrow. The property has an initial cap rate of 7.25%. The new lease includes rent increases of 5% every 5 years. There is one 3-year option, then four 5-year options and then two 10-year market options.

At Circle K, their mission is to be the best place to shop, work, and invest. Their stores are known around the world for offering busy consumers a wide variety of quality products and services in a fast, friendly, and clean environment.

Each Circle K location features an award-winning brand of the Freshest Coffee Going®, ThirstBuster® fountain drinks, beer, snacks, candy, a telecommunications center, and general merchandise. Most locations are also co-branded with a quality gasoline product from such well known brands as 76®, Conoco®, Phillips®, Exxon®, and Mobil®.
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This Circle K Gas & Convenience Store is located on East Market Street, also known as Highway 18, in Akron, Ohio. The property is located directly at the on/off ramp of Interstate 76. As a result of this excellent location, the traffic count in the immediate surrounding area is over 33,000 cars per day.

The subject property is located near many local and national commercial establishments. National retail tenants in the area include Arby's, Subway Sandwiches, Wendy's, Marathon Gas and others. Goodyear's Headquarters is also located in the area. ]

Highlights

  • True NNN Lease- tenant pays all expenses (taxes, insurance, maintenance, repairs)
  • Located on East Market Street in Akron, Ohio
  • 7.25% Cap Rate- attractive yield
  • Directly at the on/off ramp of Interstate 76
  • 17-year NNN lease
  • Traffic count in the immediate surrounding area is over 33,000 cars per day

Research

1559 East Market Street, Akron, OH 44305 (Summit County)

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