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Circle K 1035 Julian Rd 3,963 SF Retail Building Salisbury, NC 28146 $3,043,000 ($767.85/SF) 4.60% Cap Rate
INVESTMENT HIGHLIGHTS
- CORPORATE GUARANTEE FROM STRONG CREDIT TENANT
- STRONG LEASE FUNDAMENTALS
- LOCATED IN A DENSE RETAIL NODE
EXECUTIVE SUMMARY
STRONG LEASE FUNDAMENTALS
- 15 Year Ground Lease
- Six (6) x five (5) year extension periods
- 5% rental increase in year 5 and a 7.5% increase in year 10
- 7.5% increases in extension periods
- Zero Landlord Responsibilities
CORPORATE GUARANTEE FROM STRONG CREDIT TENANT
- Circle K is a subsidiary of Alimentation Couche-Tard (2024 Revenue: $74.17B; Market Cap: $47.17B), one of the world’s largest convenience store operators, with a presence in over 25 countries and territories
- It owns and operates more than 14,400 stores globally, including the well-known Circle K, Couche-Tard, and Ingo brands
GREAT VISIBILITY OFF OF I-85
- Site is positioned on a hard corner of the Rowan Summit Shopping Center
- Just two tenths of a mile from the busy interstate I-85 (90K VPD)
- The first C-Store located off of exit 75 from the commuter interstate
NEARBY ECONOMIC DRIVERS
- Just 1.5 miles from the site is RowanCabarrus Community College with just under 7,000 students and more than 300 full time employees
- Located 3.5 miles from the site is the Mid-Carolina Regional Airport which supports more than 850 jobs and sees more than 50,000 flights a year
LOCATED IN A DENSE RETAIL NODE
- Within a 1-mile radius of the site is more than 709K SF of retail space
- Nearby national retail tenants include: Dick’s Sporting Goods, Belk, Kohl’s, Five Below, Hobby Lobby, Burlington, HomeGoods, and more
NEW CONSTRUCTION
- The Building has recently been built to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
- 15 Year Ground Lease
- Six (6) x five (5) year extension periods
- 5% rental increase in year 5 and a 7.5% increase in year 10
- 7.5% increases in extension periods
- Zero Landlord Responsibilities
CORPORATE GUARANTEE FROM STRONG CREDIT TENANT
- Circle K is a subsidiary of Alimentation Couche-Tard (2024 Revenue: $74.17B; Market Cap: $47.17B), one of the world’s largest convenience store operators, with a presence in over 25 countries and territories
- It owns and operates more than 14,400 stores globally, including the well-known Circle K, Couche-Tard, and Ingo brands
GREAT VISIBILITY OFF OF I-85
- Site is positioned on a hard corner of the Rowan Summit Shopping Center
- Just two tenths of a mile from the busy interstate I-85 (90K VPD)
- The first C-Store located off of exit 75 from the commuter interstate
NEARBY ECONOMIC DRIVERS
- Just 1.5 miles from the site is RowanCabarrus Community College with just under 7,000 students and more than 300 full time employees
- Located 3.5 miles from the site is the Mid-Carolina Regional Airport which supports more than 850 jobs and sees more than 50,000 flights a year
LOCATED IN A DENSE RETAIL NODE
- Within a 1-mile radius of the site is more than 709K SF of retail space
- Nearby national retail tenants include: Dick’s Sporting Goods, Belk, Kohl’s, Five Below, Hobby Lobby, Burlington, HomeGoods, and more
NEW CONSTRUCTION
- The Building has recently been built to suit the tenant’s specifications
- Tenant has paid to add specific capital improvements to enhance operational performance
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,963 SF
Year Built
2025
Price
$3,043,000
Price Per SF
$767.85
Cap Rate
4.60%
NOI
$140,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.97 AC
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Circle K
- Retailer
- 3,963 SF
- -
- Triple Net
- Mar 2040
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Circle K | Retailer | 3,963 SF | - | Triple Net | Mar 2040 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 402-C008 | Improvements Assessment | $303,732 |
| Land Assessment | $492,993 | Total Assessment | $796,725 |
PROPERTY TAXES
Parcel Number
402-C008
Land Assessment
$492,993
Improvements Assessment
$303,732
Total Assessment
$796,725
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Circle K | 1035 Julian Rd
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