January 4, 2024 – Michael Talbert and Dan Bernardini of Horvath & Tremblay have successfully completed the sale of Circle K in Clearwater, Florida. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $4,509,804.
Circle K is located at 2370 Main Street in Clearwater, Florida. The new construction Circle K features a state-of-the-art convenience store with 20 fueling stations and a fuel island canopy. Circle K has a new 20-year Absolute NNN Ground Lease with six (6), 5-year renewal options. The Absolute NNN Ground Lease calls for attractive 5% annual rent increases every five years throughout the primary lease term and at the start of each renewal option providing a steady increase in income and an attractive hedge against inflation. The Property is well located at the signalized intersection of Main Street and US Highway 19, two of the area’s primary commercial and commuter corridors. The Property benefits from outstanding visibility and frontage with two points of access, and average daily traffic counts in excess of $120,000 vehicles per day. The property shares the intersection with the Countryside Mall and is surrounded by national retailers that drive traffic to the area. Additionally, densely populated residential neighborhoods provide a built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.