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

6802 E Cave Creek Rd, Cave Creek, AZ, 85331
6802 E Cave Creek Rd, Cave Creek, AZ, 85331
UNDER CONTRACT FOR SALE NNN Property
Property Type:
Single Tenant Retail (NNN)
Amount:
$2,100,000
Cap Rate:
4.15%
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.

Additional URLs

Map of 6802 E Cave Creek Rd, Cave Creek, AZ, 85331

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.