Close of Escrow: Circle K in McAllen, TX

Close of Escrow: Circle K in McAllen, TX

SIG is pleased to announce the closing of Circle K in McAllen, Texas.

Investment Highlights Include:

  • Brand New 20 Year Absolute NNN Lease – Zero Landlord Responsibilities
  • 2% Annual Rent Increases
  • Four (4) x 5-Year Options to Renew
  • Blended CAP Rate of 6.86% Over Lease Term
  • Guarantor Supplied Over 130 Million Gallons of Fuel to Over 300 Locations During the 12-Month Period Ended June 30, 2017
  • Guarantor Generated Over $13 Million in EBITDA in 2016
  • Guarantor Spending Over $250,000 in Capex at Site Rebranding to Chevron
  • Operator Operates 70 Circle K’s in 4 States
  • 15 Year Accelerated Depreciation
  • Income Tax Free State
  • Hard Corner with Strong Traffic Counts – Over 162,000 VPD
  • Strong Demographics – Population of 222,000+ Within 5-Miles
  • Select Neighboring National Tenants Include: Starbucks, 7-Eleven, IHOP, Big Lots, Stripes and La Plaza Mall

Closing Price: $2,570,000
Closing CAP: 6.00%

Listing Agents:  Andrew Ackerman and Chris Sands 

For More Information Contact:

Andrew Ackerman
Lic #311619

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