Cap Rate: 4.25%
Net Operating Income: $102,000
Square Footage: 2,680
Lot Size: 0.45 AC
The subject property is a Circle K in Turlock, CA, a convenience store and gas station offering a wide variety of products for people on the go. The tenant has an absolute NNN lease with zero landlord obligations. Circle K shows commitment to the location with a long operating history and an early lease extension. The lease calls for 5% increases at each of the ten, 5-year option periods.
The asset is well situated near several retailers and hotel chains. Neighboring retailers including Tractor Supply Co., McDonald’s, Burger King, Starbucks, and many more.
Turlock is a city in Stanislaus County, California, United States. Its estimated 2019 population of 73,631 made it the second-largest city in Stanislaus County after Modesto. Turlock lies in Stanislaus County, between the cities of Modesto and Merced, at the intersection of State Route 99 and State Route 165.
Foster Farms, Emanuel Medical Center, and Turlock Unified School District are the largest employers in Turlock. MedicAlert, a non-profit, charitable, and membership-based organization for 24/7 medical response information, has been based in Turlock since its founding in 1956. La Perla Tapatía Supermarkets is headquartered in Turlock.