Circle K Market Report
Cap rates and listings for 56 Circle K net lease sales, March 2023 to October 2026, and 7 new stores for sale.
Across 63 tracked comps, closed Circle K sales traded at a median cap rate of 5.25% (56 sales), against a median asking cap of 5.00% on 7 current listings.
- 63Comps tracked
- 5.25%Median sold cap56 records
- 5.00%Median ask cap7 records
- $3.63MMedian sale price56 records
- Edition
- November 2026 editionPublished November 13, 2026
- Observation period
- Sales closed March 2023 to October 2026Data to November 13, 2026
- What is covered
- Circle K sale and listing comps in the report set (63 comps)AL, AR, AZ, CA, CO, FL, GA, IN, KY, LA, MO, NV, SC, TN, TX
- Sample
- 56 closed sales with a reported cap rateClosed sales7 active listings with an asking cap rateActive listings
- Author
- Jonathan Aceves
- Reviewed by
- Stephen Long
At a glance
About Circle K
Circle K Stores, Inc. is a convenience store chain owned by the Canadian multinational Alimentation Couche-Tard, Inc., based in Laval, Quebec; Couche-Tard acquired Circle K in 2003. The parent, Alimentation Couche-Tard Inc., is a public company traded on the Toronto Stock Exchange under ticker ATD and is an S&P/TSX 60 component; founded in 1980 and headquartered in Laval, Quebec. Alain Bouchard is executive chairman and Alex Miller is CEO; Couche-Tard operates convenience chains under multiple banners including Circle K, Couche-Tard, Holiday, GetGo and On the Run.
Credit
S&P Global Ratings affirmed Alimentation Couche-Tard at BBB+ (Foreign Currency Long-Term credit rating) on July 17, 2025, with a stable outlook. Moody's Investors Service upgraded Alimentation Couche-Tard's long-term local currency credit rating to Baa1 from Baa2 on May 18, 2023, with a stable outlook. Couche-Tard issued international bonds in September 2025 totaling USD 700 million and USD 500 million, maturing in 2028 and 2035 respectively.
Key findings
- Closed sales traded at a median cap rate of 5.25% (56 sales).
- Current listings are asking a median cap rate of 5.00% (7 listings).
- The median sale price was $3.63M (56 sales).
Sold cap rate by sale date
Logarithmic trend, n = 56, R² 0.00. One dot per comp.
Sold cap rate by sale date
Cap rate by region
Sold cap rates by the state of the property. Southeast is GA, FL, AL, TN, NC, SC. Fewer than 5 sales is directional.
| Region | Sales | Median cap | Average cap | Range |
|---|---|---|---|---|
| Southeast | 32 | 5.24% | 5.35% | 4.15% – 6.51% |
| West | 6 | 4.78% | 4.75% | 4.21% – 5.33% |
| Mountain | 5 | 5.09% | 4.98% | 4.29% – 5.25% |
| Texas | 4 (directional) | 5.19% | 5.27% | 5.10% – 5.60% |
| Other | 9 | 6.50% | 6.39% | 5.39% – 7.10% |
| Source: Finem Group comp set | ||||
Latest comps
Most recent sold comps with a reported cap. City and state only.
| Location | Sold | Price | Cap | Term | Guarantee |
|---|---|---|---|---|---|
| Midland, TX | 2026-10-26 | $3,098,039 | 5.10% | 20 yrs | corporate |
| MONTGOMERY, AL | 2026-10-19 | $5,290,000 | 6.10% | 20 yrs | franchisee |
| Wildwood, FL | 2026-09-14 | $3,900,000 | 5.13% | 15 yrs | corporate |
| Port Richey, FL | 2026-09-08 | $4,007,634 | 5.24% | 15 yrs | corporate |
| Mount Dora, FL | 2026-08-21 | $3,700,000 | 5.14% | 15 yrs | corporate |
| Surprise, AZ | 2026-08-10 | $3,429,000 | 5.25% | 15 yrs | corporate |
| Kissimmee, FL | 2026-07-20 | $3,725,000 | 5.10% | 20 yrs | corporate |
| Phoenix, AZ | 2026-07-07 | $1,650,000 | 5.09% | 20 yrs | corporate |
| Seminole, FL | 2026-06-23 | $4,260,000 | 4.98% | 15 yrs | corporate |
| McAllen, TX | 2026-05-15 | $2,530,000 | 5.14% | 15 yrs | corporate |
| Source: Finem Group comp set | |||||
Methods
- Figures use the 63 comps the analyst marked as included; excluded comps are not counted.
- Cap rates and prices are medians of the comps that report them, so one outlier does not move the figure. Groups of fewer than three sales are labelled directional.
- Each trend line is a least-squares fit; the number printed beside it (R squared) says how much of the variation it explains, and a low value means the trend is weak.
Sources
- Finem Group comp database — Sale and listing comps entered by Finem brokers and analysts
- Brand facts — Public web sources cited in the at-a-glance blurbs
Limitations
- Lease terms and asking caps are as stated by listing brokers and are not independently verified.
- Sold cap rate by sale date: the fitted trend explains little of the variation (R squared 0.00), so treat it as a direction, not a forecast.
- Regions with fewer than three sales are shown as directional.
For the current figures, see the Circle K ground lease cap rates and market report summary: the latest sales, listings and lease terms.