3400 E. Anaheim Street
Newly constructed Circle K/Mobil gas station and convenience store at 3400 E. Anaheim Street, Long Beach, California, offered at $3,100,000 at a 4.90% cap ($151,800 NOI). The single-tenant asset is secured by a 10-year absolute NNN ground lease with Circle K Stores Inc. (Alimentation Couche-Tard subsidiary) through June 30, 2036, plus two five-year renewal options extending potential occupancy to 2046. Rent increases 15% every five years, delivering predictable NOI growth and inflation protection.
The 3,590 SF building sits on a 21,618 SF (0.50-acre) signalized hard corner at E. Anaheim Street and Redondo Avenue, with 15 parking spaces and full-access ingress and egress. The location captures approximately 55,400 vehicles per day and sits directly across from the grocery-anchored Belmont Center, anchored by Food 4 Less, generating strong co-tenancy synergies and consistent customer traffic. Circle K has operated successfully at this location for more than 59 years, underscoring the property's proven performance and strategic importance. As a true absolute NNN ground lease, the tenant bears all taxes, insurance, maintenance, and repairs, providing completely passive ownership with no landlord management or capital obligations.
- 10-year lease with two five-year renewal options (potential occupancy through 2046)
- 15% contractual rent increases every five years
- Circle K/Mobil (Alimentation Couche-Tard) — strong corporate credit tenant
- 55,400 vehicles per day; signalized hard corner with full access
- Absolute NNN ground lease; zero landlord responsibilities
- 59+ years of proven operational success at location
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Location
This Circle K/Mobil gas station and convenience store at 3400 E. Anaheim Street, Long Beach, California presents an exceptional net-leased investment opportunity featuring a brand-new 10-year lease extension through June 30, 2036, with two additional five-year renewal options that provide potential occupancy through 2046. The lease is executed directly with Circle K Stores Inc., a subsidiary of Alimentation Couche-Tard, one of the world's largest convenience store operators with approximately 17,000 locations across North America, offering investors the security of a strong corporate credit tenant. Positioned on a signalized hard corner at the intersection of E. Anaheim Street and Redondo Avenue, the property benefits from outstanding visibility, full-access ingress and egress, and exposure to approximately 55,400 vehicles per day. Located directly across from the grocery-anchored Belmont Center, the site enjoys strong co-tenancy synergies and consistent customer traffic generated by Food 4 Less and other established retailers. The investment is secured by a true absolute NNN ground lease, with the tenant responsible for all taxes, insurance, maintenance, and repairs, providing a completely passive ownership experience with no landlord management or capital obligations. Investors also benefit from 15% contractual rent increases every five years throughout both the initial lease term and option periods, delivering predictable NOI growth and an effective hedge against inflation. Having successfully operated at this location for more than 59 years, Circle K's continued commitment underscores the property's proven performance, strategic importance, and long-term investment stability.