Stan Johnson Company Arranges $3.4 Million Sale of Circle K Convenience Store in Montgomery, Alabama
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a gas station and convenience store located at 5101 Vaughn Road in Montgomery, Alabama. Leased by Circle K, the 3,800-square-foot property sold for approximately $3.4 million, reflecting a 5.90 percent cap rate. The 1031 exchange buyer, an individual investor from Oklahoma, was represented by Stan Johnson Company’s Jonathan Ameen. The seller, Gas Express LLC, was an Atlanta, Georgia-based franchisee represented by Jared Kaye of Marcus & Millichap.
“This newly constructed property was an ideal fit for the investor, who is shifting their portfolio to long-term essential retail properties,” said Jonathan Ameen, Associate Director in Stan Johnson Company’s Tulsa, Oklahoma headquarters. “The combination of an absolute triple net lease, a 20-year lease term, and an expanding 100+ unit franchisee gave the investor comfort in the quality of this asset for years to come.”
The property was constructed in 2021 and is situated on approximately 1.5 acres. Located strategically near heavily trafficked Highway 231, neighboring tenants include Dollar General, Wendy’s, Popeyes Louisiana Kitchen and BBVA Bank, among others.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm provides acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.