Jim 'N Nick's - Huntsville, AL
2001 Four Mile Post Road Southeast, Huntsville, AL, 35802, US
822 m²
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the new construction Circle K located at 1220 Perry Hill Rd in Montgomery, AL (“Property” or “Asset”). Circle K currently operates under an investment-grade, corporate-backed 20-year absolute NNN ground lease with 16.7 years remaining on the term. The lease features attractive 10% rent increases every 5 years and includes six 5-year renewal options, ensuring long-term tenancy potential. Notably, the lease stipulates zero landlord responsibilities, eliminating management obligations for the property owner.
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Attributes
Asking price
NZ$7,839,000
Cap rate
5.35%
NOI
NZ$420,000
WAULT
16.7 years
Building area gross
408 m²
Year built
2022
Land area gross
0.45 ha
Media
Investment Highlights
- Operating on an absolute NNN lease with ±16 years of lease term remaining
- 2022 construction in Montgomery's largest retail submarket (14.9M SF inventory)
- Near-term 10% rental escalation in January 2027 resulting in a 50bps cap rate improvement
- Investment grade (BBB+) tenancy with global scale of 14,000+ locations
- Prime I-85 frontage 3-miles from downtown Montgomery with access to 110,000 vehicles per day
Contact brokers
Circle K - Montgomery, AL (Perry Hill) (0 Properties)
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Last updated
6 Jun 2025
