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.
