Circle K, Akron, OH
Closed1842 Newton Street, Akron, OH 44305
Property type
Retail
Price
$650,000
Building size
2,540 sf
Rentable area
2,540 SF
Year built
1980
Year renovated
Occupancy
Zoning code
Lot size
0.25 Acres
Sold/status
Sold · Date unknown
Sale price
$650000
CAP
6.15%
Property description
Franklin Street is pleased to present this “Corporate Circle K” investment property located on a hard corner in Akron, OH. This “Convenient Store Only & 24hr Operation Store” is well located on a hard corner in the dense residential neighborhood of Goodyear Heights which is in the north east quadrant of town and conveniently positioned immediately between two local bars on the left and the right of the property. It has been an established fixture in the community operating for over 39 years since opening in 1980. Circle K based in Tempe, AZ is owned and operated by Alimentation Couche-Tard Inc. (Couche-Tard). Couche-Tard based in Laval, Canada outside of Montreal is the largest independent convenience store operator in terms of number of company-operated stores in the United States. It is also one of the largest company-owned convenience store operators in the world with more than 16,000 stores across Canada, the United States, Europe, Mexico, Japan, China, and Indonesia. Couche-Tard has a current market cap of over $42.2 billion, revenue of $58.9 billion, gross profit of $8.1 billion and is Standard & Poor’s rated BBB & Moody’s rated Baa2, (Investment Grade) and is Traded on the Toronto Stock Exchange under (TSX:ATD.A) & (TSX:ATD.B) The lease remaining is a 8.3 year NNN lease with at 10% rent increase upon the 7th and last 5 year renewal option that begins July 1st, 2027through June 30th, 2032. Priced at only $650,000, this could be a great below million-dollar corporate asset with a higher return and potential for future upside!
Property highlights
- TBD