Circle K - Montgomery, AL (Perry Hill)_Property for Sale
Circle K - Montgomery, AL (Perry Hill)_Property for Sale
1220 Perry Hill Rd, Montgomery, AL, 36109, US

Circle K - Montgomery, AL (Perry Hill)

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
R 84,451,000
Cap rate
5.35%
NOI
R 4,519,000
WAULT
16.7 years
Building area gross
408 m²
Year built
2022
Land area gross
0.45 ha

Media

Investment Highlights

  1. Operating on an absolute NNN lease with ±16 years of lease term remaining
  2. 2022 construction in Montgomery's largest retail submarket (14.9M SF inventory)
  3. Near-term 10% rental escalation in January 2027 resulting in a 50bps cap rate improvement
  4. Investment grade (BBB+) tenancy with global scale of 14,000+ locations
  5. Prime I-85 frontage 3-miles from downtown Montgomery with access to 110,000 vehicles per day
Circle K - Montgomery, AL (Perry Hill) 4_Property for Sale
Circle K - Montgomery, AL (Perry Hill) 4_Property for Sale

Contact brokers

Circle K - Montgomery, AL (Perry Hill) (0 Properties)

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Last updated
6 Jun 2025