Circle K

Circle K is an international chain of convenience stores, founded in 1951 in El Paso, Texas, United States. Since the 1980s, Circle K has been the largest company-owned convenience-store chain (i.e., of non-franchised stores) in the U.S. It was second in overall number of U.S. stores to 7-Eleven. it is now owned and operated by the Canada-based Alimentation Couche-Tard.

Today, it is present in most of the 50 U.S. states, all Canadian provinces, and a number of European countries (Denmark, Estonia, Ireland, Latvia, Lithuania, Norway, Poland, Russia, and Sweden). In Asia and Latin America, the brand is used by franchisees.

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Parent Company: Alimentation Couche-Tard
Store Count: 8,000
S&P Rating: BBB

S&P Outlook: Stable

Moody Rating: Baa2

Moody Outlook: Stable

Typical Lease Characteristics

Lease Term: 15 – 20 Years  Years

Lease Type: Absolute NNN Lease 

Lease Increases: 10% Every 5 years 

Lease Extensions: 4-5 (5) Year Options

Lease Guarantor: Corporate


  • Public Company, Credit Rated
  • Less prone to economic pressures
  • Typically Long term leases with increases


  • Typically high price per square foot
  • Typically low cap rate

Market Snapshots:

On Market Ranges:

# of Properties in set: 11

Price: $1,299,750 - $1,694,060Average: $1,460,396

PPSF: $440 - $570Average: $505

Year Built: 1974 - 2002Average: 1990

CAP Rate Range: 5.32% - 6.25%Average: 5.78%

Size range: 1,344 sq ft - 4,600 sq ft Average: 2,970 sq ft

Last 12 Month Range:

# of Properties in set: 20

Price: $1,544,170 - $1,863,070Average: $1,678,443

PPSF: $480 - $645Average: $571

Year Built: 1968 - 2017Average: 1990

CAP Rate Range: 5.03% - 6.88%Average: 5.98%

Size range: 2,009 sq ft - 5,881 sq ft Average: 3,004 sq ft

Circle K Company Profile

Headquarters Information

Tempe, Arizona

Founded in 1951

Company type: Public

Stock Ticker: ANCUF

Parent Company: Alimentation Couche-Tard

Sector: Convenience Stores

Industry: Retail

S&P Rating: BBB

S&P Outlook: Stable

S&P Rating: Baa2

Moody Outlook: Stable

Circle K Stock Keys

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