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Virtual Drive-By

Circle K Absolute NNN

4301 W Thomas Rd · Phoenix, AZ 85009 · Convenience / Fuel

Asking price
$2,275,000
Cap rate
4.63%
NOI
$105,276

Need financing on this deal

We run the asking price and cap rate against a network of 7,000+ lenders to return indicative terms, then package a lender memorandum. Takes about two minutes and we will need your target leverage and timing.

Lease

Lease typeAbsolute NNN
Term remaining3.0 yrs
Expiration07/2029
Rent bumps10% at last Five (5) year option. *Rent will increase to $115,800 on 7/19/2029
OptionsOne (1) Five (5) year
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 SF3,025
Price / SF$752
Year built1987
Lot size0.46 ac
TypeConvenience Store, Gas Station
Days on market55

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

  • ​Hard Corner Location with Excellent visibility Accessibility at the Busy Intersection of 43rd Ave&Thomas Rd.
  • ​Strong Traffic Counts. East/West Thomas Rd sees over 31K cars/day & North/south Thomas Rd sees over 38K cars/day
  • ​Close Proximity to the I-10 Highway
  • ​Exceptional Pole/Monument Signage
  • ​Triple Net (NNN) Lease. The tenant is responsible for property taxes, insurance, and property maintenance. *Tenant also pays LL a rentaltax of 2.6% of base rent
  • ​Long-Term Operating History. The Tenant has been operating at this location for nearly 40 years, demonstrating their success and commitmentto this location.
  • ​Strong Corporate Guarantee from Circle K. Circle K is a global chain & is the 2nd largest in the world, with over 14,800 locations across North America, Europe, and Asia.

Property overview

Circle K is a leading global convenience retailer recognized for its commitment to customer satisfaction, strong brand presence, and innovative retail solutions.​ With thousands of locations worldwide, Circle K has built a reputation for providing a comprehensive one-stop experience delivering high quality fuel options, fresh food and beverage selections, and everyday convenience products.​

Circle K's business model focuses on high traffic accessibility and quick, reliable service that caters to commuters, local residents, and travelers alike.​ The brand's emphasis on modern store formats, bright welcoming environments, and loyalty programs strengthens customer retention and drives consistent sales performance.​ Circle K strategically positions its stores in high visibility, high accessibility locations ensuring strong daily customer flow.​

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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.