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Virtual Drive-By

Circle K Absolute NNN

1205 West Meighan Boulevard · Gadsden, AL 35901 · Convenience / Fuel

Asking price
$2,333,000
Cap rate
6.75%
NOI
$157,500

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Lease

Lease typeAbsolute NNN
Term remaining3.8 yrs
Expiration05/2030
Rent bumps5% Every 5 Years, In Primary Term & Options
Options(5), 5-Year Renewal Options
Ground leaseNo
Credit profileCorporate Guarantee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF2,733
Price / SF$854
Year built1997
Lot size1.05 ac
TypeConvenience Store, Gas Station, Storefront
Days on market59

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • ​4.2 Years Remaining on Absolute NNN Lease with 5% Rental Increases Every 5 Years in both the Primary Term and Renewal Options and (5) 5-Year Options
  • ​Prime Positioning with 36,025 VPD The property benefits from direct frontage on West Meighan Boulevard with traffic counts reaching 25,061 vehicles per day, supported by 10,964 VPD along adjacent 12th Street. The site captures local residential traffic and commuter flow with connectivity to US Highway 278 and I-759, reinforcing long-term fuel and convenience demand.
  • ​Established National Retail Corridor Anchored by Walmart and Daily-Needs Retailers Surrounding retailers include a Walmart Supercenter, Dollar General, Family Dollar, Napa Auto Parts, McDonald’s, Domino’s, and ALDI. The dense concentration of national brands and automotive-oriented uses supports consistent cross-shopping activity and repeat daily trips.
  • ​Healthcare, Education, and Tourism Demand Drivers Gadsden Regional Medical Center (346 beds; 1,300+ employees; ~5 miles) and Riverview Regional Medical Center (~200 beds; 789 employees; ~3 miles) provide 24-hour workforce and visitor traffic. Gadsden State Community College (5,568 students; 532 employees), George W. Floyd Elementary (400+ students), and Noccalula Falls Park (200,000+ annual visitors) contribute steady commuter and seasonal traffic.
  • ​Corporate-Guaranteed Lease to Circle K, the #2 U.S. Convenience Store Chain Circle K operates 17,300+ locations globally, including approximately 7,000+ stores in the United States, and is backed by Alimentation Couche-Tard (TSX: ATD) with ~$101B CAD in trailing revenue. The brand’s global scale, fuel leadership, and operational efficiency provide long-term lease security and renewal probability.
  • ​Gadsden MSA Experiencing Major Public and Private Investment The Gadsden MSA serves approximately 103,000 residents and is benefiting from the $100M+ RISE Plan projected to generate 2,400 jobs and $190M in economic impact. Additional momentum includes the 1,100-acre NEAR Megasite targeting 1,000+ jobs and ongoing infrastructure investments that strengthen long-term traffic growth and retail stability.

Property overview

  • ​4.2 Years Remaining On Fee Simple Absolute NNN Lease | Early Lease Extension in 2020
  • ​Prime Location On West Meighan Boulevard With 36,025 VPD Adjacent To US Highway 431 And Major Regional Corridors
  • ​Surrounded By National Daily-Needs Retailers Established Retail Corridor With Strong Cross-Traffic Synergy
  • ​Benefiting From $100M+ RISE Plan And 1,100-Acre NEAR Megasite Development Projected 2,400 Jobs And Significant Regional Economic Impact
  • ​Corporate-Guaranteed Absolute NNN Lease To Circle K #2 Convenience Store Chain With 17,300+ Global Locations

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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.