This page tracks Circle K net lease properties observed for sale in the United States, refreshed automatically from listing broker materials, checks the tenant against the investment grade threshold, and walks through how to evaluate one before you make an offer. If you want the corporate credit story, the Circle K credit rating and cap rate profile covers it. This page is about the inventory: what is on the market, what it is asking, how the pricing breaks down by term, state and lease type, and how a buyer, especially a 1031 exchange buyer, should work through it.
On a Circle K property, who signed the lease determines the credit. The ratings shown for Circle K are credit ratings of its parent company, Alimentation Couche-Tard Inc.: BBB+ (Stable outlook) from S&P Global Ratings and Baa1 (Stable outlook) from Moody’s; all investment grade (BBB-/Baa3 or higher). Whether that credit stands behind a specific lease depends on the tenant and any guarantor named in the lease. Ratings checked October 8, 2026. Many Circle K locations are operated by a franchisee, dealer or independent operator, and an issuer rating does not extend to an operator lease unless a written corporate guaranty says so. Confirm the signature block. See the Circle K credit profile.
37 Circle K NNN properties observed for sale across 16 states as of October 16, 2026. Median asking cap rate 5.22% (range 4.00% to 7.50%). Median asking price $3.12M. Average remaining lease term 10.2 years (among 17 listings that state a term). Median building 4,500 SF. Figures update automatically from listing broker materials.
Circle K NNN Properties For Sale: Latest Listings
Up to twelve of the most recently listed single-tenant Circle K properties with published pricing. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.
| Location | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|
| Evans, GA | $3,500,000 | 5.00% | $175,000 | n/a | 2000 | Not stated | Get full property data |
| Fort Meade, FL | $1,250,000 | 5.90% | $73,769 | n/a | 1965 | Not stated | Get full property data |
| Lafayette, IN | $3,090,000 | 5.00% | $154,500 | n/a | 2026 | Not stated | Get full property data |
| Carrollton, GA | $1,700,000 | 5.00% | $85,085 | n/a | 1997 | Not stated | Get full property data |
| Chula Vista, CA | $4,444,000 | 4.50% | $200,000 | n/a | 2026 | Not stated | Get full property data |
| Scottsdale, AZ | $5,372,000 | 4.00% | $214,884 | n/a | 1996 | Not stated | Get full property data |
| Shelbyville, IN | $2,167,475 | 7.05% | $152,807 | n/a | 1993 | Not stated | Get full property data |
| Buckeye, AZ | $4,333,333 | 4.50% | $195,000 | n/a | 2026 | Not stated | Get full property data |
| Marathon, FL | $4,347,825 | 5.75% | $249,999 | n/a | 2003 | Not stated | Get full property data |
| Summerland Key, FL | $2,782,608 | 5.75% | $202,289 implies 7.27%; verify | n/a | 1958 | Not stated | Get full property data |
| Key West, FL | $4,521,808 | 5.75% | $260,004 | n/a | 1969 | Not stated | Get full property data |
| Ocala, FL | $5,900,000 | 5.00% | $295,000 | n/a | 2026 | Not stated | Get full property data |
Showing the 12 most recently listed of 37 observed listings; listings without a published asking price and cap rate are not shown here.
Search all 37 Circle K properties on the market
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the listing party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.
Get new Circle K listings in your cap rate band
New Circle K net lease listings matched to your criteria, emailed as they are observed on the market. One email per match, nothing else.
Own a Circle K? Considering selling?
Investment Grade Income Property, LP advises owners nationally through Broker of Record co-listing partnerships in all 50 states. You choose the process: a quiet off-market placement with qualified 1031 buyers already searching this inventory, or a full on-market campaign. Either way it starts with a valuation benchmark against the live Circle K listings on this page.
Investment Grade Income Property, LP is a licensed commercial real estate brokerage. Your details are used to send the information you requested and are never shared with listing brokers without your permission.
What You Are Actually Buying
Circle K stores include both company-operated and franchised locations under a large publicly traded parent. Confirm the obligor entity on any listing. Many sites carry fuel operations with underground storage tanks, and the environmental diligence is not optional.
The typical asset is a 3,000 to 6,000-square-foot store on a corner parcel with fuel canopies and underground storage tanks, and on the larger travel formats a significantly bigger footprint with food service. The fuel component is the defining feature and it introduces liability that does not exist on other small-format net lease.
Across the current inventory, roughly 44% of listings with a reported build year were delivered in the last four years, and about 0% are marketed as NN, NN+ or simply Net, which usually means the landlord retains roof and structure and sometimes parking and HVAC. Read the lease rather than the brochure headline. If the rating framework behind investment grade tenancy is unfamiliar, the investment grade guide explains it.
Circle K Cap Rate, Price and Term Distribution
These tables are generated from the live inventory and refresh every few hours. Use them to place any individual listing in context rather than judging an asking cap rate in isolation.
| Asking Cap Rate Band | Listings | Share | Avg Asking Price |
|---|---|---|---|
| Under 5.00% | 6 | 16% | $3.99M |
| 5.00% to 5.49% | 18 | 49% | $2.96M |
| 5.50% to 5.99% | 5 | 14% | $3.89M |
| 6.00% to 6.49% | 2 | 5% | $2.55M |
| 6.50% to 6.99% | 2 | 5% | $3.00M |
| 7.00% and above | 3 | 8% | $2.40M |
| Asking Price Band | Listings | Share | Avg Cap Rate |
|---|---|---|---|
| Under $1.5M | 2 | 5% | 5.45% |
| $1.5M to $2.5M | 8 | 22% | 5.92% |
| $2.5M to $3.5M | 15 | 41% | 5.34% |
| $3.5M to $5M | 8 | 22% | 5.19% |
| $5M and above | 4 | 11% | 4.87% |
| Remaining Lease Term | Listings | Avg Cap Rate |
|---|---|---|
| Under 5 years | 6 | 5.65% |
| 5 to 10 years | 2 | 6.80% |
| 10 to 15 years | 4 | 5.18% |
| 15 years and longer | 5 | 4.98% |
| Lease Type (as marketed) | Listings |
|---|---|
| Not stated | 19 |
| Absolute NNN | 15 |
| NNN | 3 |
How to read the pricing
The spread inside the Circle K inventory runs from 4.00% to 7.50%, against a median of 5.22%. Three variables help explain much of that spread, although these tables describe asking prices and do not isolate any single effect. First, remaining term, shown in the term table above. Second, geography, shown in the state table below. Third, lease structure and real estate quality: longer terms, stronger guarantors, absolute NNN structures and strong access generally ask lower cap rates, while leases with landlord responsibilities (NN) and secondary access generally ask higher ones; ground leases can price on either side, depending on rent and land value. When a listing sits far outside the band its term and state would predict, there is usually a reason in the lease, and it is worth finding before you write the offer rather than after.
Where Circle K NNN Properties Are For Sale
Current inventory spans 16 states. Differences between states in the table below can reflect local buyer demand, growth, taxes and the mix of lease terms in each state’s listings as much as anything about the tenant, and small state samples can shift quickly.
| State | Listings | Avg Cap Rate | Avg Asking Price |
|---|---|---|---|
| FL | 7 | 5.45% | $3.64M |
| AZ | 6 | 4.72% | $3.08M |
| IN | 3 | 5.84% | $2.64M |
| OH | 3 | 5.83% | $2.55M |
| GA | 3 | 5.20% | $3.91M |
| CA | 2 | 4.50% | $9.97M |
| NC | 2 | 4.98% | $3.02M |
| IL | 2 | 6.38% | $2.98M |
| TX | 2 | 5.00% | $3.03M |
| MN | 1 | 6.10% | $2.80M |
| KS | 1 | 7.50% | $1.93M |
| AL | 1 | 6.75% | $2.33M |
Shows the 12 states with the most listings, out of 16 states with Circle K listings. Search all listings for the rest.
Circle K as a 1031 Exchange Replacement Property
The median asking price in the current Circle K inventory is $3.12M, and about 62% of listings fall in the middle of the market between 1.5 and 3.5 million dollars. Whether that fits an exchange depends on the equity coming out of the relinquished property and on the debt you need to replace.
- Identify from the live list, not a stale one. Listings move. Identify two or three specific properties under the three-property rule and keep a backup that is realistically still available.
- Debt replacement is the trap. If the relinquished property carried a mortgage, you must replace that debt or add cash to fully defer gain. Where lender pricing sits above the asking cap rate, financed acquisitions run negative leverage.
- Term should match your hold. If you plan to hold through the next exchange or pass the asset to heirs, prioritize term and options over 25 basis points of cap rate.
- Certainty of closing matters more than price. A clean estoppel, a current lease and no pending relocation are worth paying for on a 45-day clock.
For identification mechanics, timelines and the NNN, DST and UPREIT alternatives, see the 1031 exchange into investment grade property guide.
Circle K NNN Due Diligence Checklist
These are the items that change the value of a Circle K listing and are rarely resolved by the offering memorandum.
- Underground storage tanks and environmental. Obtain Phase I and, where indicated, Phase II. Confirm tank age, testing and registration records, and exactly who carries remediation obligation under the lease.
- Lease signatory. Establish whether the obligor is the corporate entity, a franchisee or a dealer, and whether a corporate guaranty exists.
- Fuel supply agreements. Understand any branded supply arrangement and whether it survives a sale.
- Access and corner quality. Curb cuts, signalization and traffic counts drive both current volume and residual value on a fuel site.
How Investment Grade Works With Circle K Buyers
Investment Grade Income Property, LP is a licensed commercial real estate brokerage providing national advisory on acquisitions and dispositions of net lease property, with Broker of Record co-listing partnerships in all 50 states. On a Circle K acquisition we screen the live inventory against your criteria, pull the lease abstract behind any listing you want to pursue, benchmark the asking cap rate against the distribution above, and negotiate on your side of the table through closing. On most transactions there is no separate fee to the buyer because compensation is paid from the transaction by the listing side. Where that is not the case we disclose it in writing before you engage.
Owners of existing Circle K properties can use this page as a valuation benchmark. If you are weighing a sale, an off-market disposition to a qualified 1031 buyer often closes faster and with less retrading than a broad marketing process.
Frequently Asked Questions
How many Circle K NNN properties are for sale right now?
As of October 16, 2026, 37 single-tenant Circle K net lease properties are observed for sale across 16 states. The count updates automatically as listings are added and removed.
Is Circle K investment grade?
That depends on who signed the lease. The ratings shown for Circle K are credit ratings of its parent company, Alimentation Couche-Tard Inc.: BBB+ (Stable outlook) from S&P Global Ratings and Baa1 (Stable outlook) from Moody’s; all investment grade (BBB-/Baa3 or higher). Whether that credit stands behind a specific lease depends on the tenant and any guarantor named in the lease. Ratings checked October 8, 2026.
What cap rate do Circle K NNN properties sell at?
The current median asking cap rate is 5.22%, with the inventory ranging from 4.00% to 7.50%. Longer term, stronger markets and absolute NNN structures price at the tight end.
How much does a Circle K NNN property cost?
The median asking price in the current inventory is $3.12M, with listings from $1.25M to $15.50M. About 62% fall between 1.5 and 3.5 million dollars.
Who signs the lease on a Circle K property?
Circle K stores include both company-operated and franchised locations under a large publicly traded parent. Confirm the obligor entity on any listing. Many sites carry fuel operations with underground storage tanks, and the environmental diligence is not optional.
Working a Circle K acquisition or a 1031 identification deadline? Register on any listing above for full property data and a due diligence review, or email steve@investmentgrade.pro with your price range, target states and closing timeline and we will screen the live inventory for you.
