This listing is under contract.
JUST LISTED: Circle K Cave Creek (Phoenix MSA) AZ | Rare 2% Annual Increases | Long-term NNN Lease
6802 E Cave Creek Rd
Cave Creek, AZ 85331
UNDER CONTRACT FOR SALE NNN Property
Property Type:Single Tenant Retail (NNN)
Last Verified:Apr 19, 2021
* Single-tenant Circle K investment opportunity, offering approximately 9.5 years remaining on an absolute triple-net (NNN) lease. * Rare 2% annual increases in current term and a recent extension was exercised with Tenant. * Circle K’s parent company, Alimentation Couche-Tard Inc. (S&P Credit Rating: BBB), is the largest independent convenience store operator in the United States in terms of number of company-operated stores. As of October 11, 2020, Couche-Tard’s network comprised approximately 9,261 convenience stores throughout North America and ±14,200 globally. * There are a limited number of gas stations in Cave Creek, protecting the tenant from nearby competition. * Exceptional demographics in a five-mile radius, with a 2020 average household income of $167,378 and 2020-2025 projected annual population growth rate of 1.87% (Source: Esri). * The Property is located ±2.5 miles north of Boulders Resort & Spa, a 5-star hotel ranked as the best hotel in Arizona by Travel + Leisure. The area attracts over 30,000 people to town during the seasonal Thunderbird Artists Fine Art and Wine Festivals as well as Wild West Days Cave Creek; which is one of Arizona's largest western celebrations and brings in over 10,000 people every year to the area.