Circle K NNN Property Sold by Casablanca in Odessa Texas
We are pleased to announce that we have Just Sold a brand new Circle K NNN Property located at Evans Boulevard and 87th Street, Odessa, Texas. We sold the property at a Selling Price of $2,777,777. Alex Casablanca, Managing Broker at Casablanca Commercial Real Estate, represented the Buyer in the transaction. See below a couple of transaction and location highlights.
Transaction Highlights
- Sold Price: $2,777,777
- Cap Rate: 5.40%
- Years on Lease: 15 Years
- Annual Rent: $150,000
- Lease Type: Ground Lease | Absolute NNN
- Extensions: Eight 5-Year Options
- Rental Increases: 8% every 5 years
- Guaranty: Circle K Corporation
- Location: Odessa, Texas
- Funding: All Cash
- Closing Date: August 12, 2025
Location and Investment Highlights
- Brand New Construction Property
- Brand New 15 Years Absolute NNN Lease | No Landlord Responsibilities
- Affluent market with an average annual household income of $101,213
- Strong demographics with an explosive population growth
- Corporate Guaranteed by Circle K
- Attractive 8% rental increases every 5 years
- Texas is a tax-free state
At Casablanca, we specialize in representing NNN Buyers, Sellers, Landlords, and 1031 Exchange Investors. We have the knowledge and expertise to guide you along the way from market research, identifying potential properties, submitting offers and negotiating them, due diligence, up to the closing table. We have helped many NNN Buyers and 1031 Exchange Investors in finding and negotiating the best property according to their investment goals and risk tolerance.
Why Choosing to Work with Us as Your Buyer’s Broker?
- Free Buyer Representation, so you get our expert advice at no additional cost to you.
- Up to $10,000 credit for Buyer’s closing costs.
- We specialize in representing NNN Buyers and 1031 Exchange Investors. We represent your interests as a Buyer exclusively, not the Seller.
- We assist you with market research, property evaluation and selection, offer submissions and negotiations, due diligence and closing
- Extensive access to property listings through our network of broker colleagues, property owners and developers.
- Our main goal is to find the best property for you at the best price.
Send Me More Information Contact Us by Email Here Call Us at 407-205-7570