Chipotle Mexican Grill

4165 Buffalo Rd, Erie, PA 16510

$2,350,000

Cap Rate 4.26%

Views: 78 DOM: 540 Updated: 04.22.24 Posted: 11.23.22 Status: Active

Summary

Price $2,350,000	Built/Renov 2021	Tenant Chipotle Mexican Grill
Cap Rate 4.26%	Lease Type NN+	Guarantor Corp Traded
Size/SF 2,325	Lease Start 12-30-2021	#Units 3,437
Price/SF $1,010.75	Expiration 12-31-2036	Tenant Type Fast Casual/Rest.
NOI $99,998	R. Term 12.7	Ownership Fee Simple
Rent/SF $43.01	Increases 10.0%/5/yrs	Pop 5Mi 94,389
Lot/AC 0.68	Options 4/5yrs/10%	AHHI 5Mi $63,051

Lease Highlights

Tenant has 13+ years remaining on their current lease term with 2 (5-year), 1 (4-year) & 1 (11-month) options to extend
Lease features 10% rental increases throughout primary term at the beginning of each option period
Favorable NN+ lease with landlord responsibilities limited to roof & structure
Corporate guarantee from Chipotle Mexican Grill, Inc. (NYSE: CMG)

Location Description

Chipotle is positioned with excellent access and visibility on a hard corner at the signalized intersection of Buffalo Road (14,177 VPD) and Nagle Road (10,916 VPD). Chipotle is ideally located as an outparcel to the ±215,327-SF Giant Eagle Plaza, which is anchored by Giant Eagle grocery store and further occupied by Get-Go Gas, Rite Aid, T-Mobile, Sherwin Williams, Pet Supplies Plus, to name...

...

Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Shopping Ctr out-parcel
Strategically located
Major MSA
Long 10+ yr lease
Favorable NN+ lease
Corporate Guarantee
Publicly traded company

...

Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Erie, Pennsylvania Zip Code 16510 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chipotle Mexican Grill
Guarantor:Corp Traded
Company:Chipotle Mexican Grill, Inc.
# Units:3,437
Stock: NYSE: CMG

About Tenant

Chipotle Mexican Grill, Inc., or “Chipotle”, is an American chain of fast-casual restaurants in the U.S., United Kingdom, Canada, Germany, and France. The Fortune 500 company...

...

Demographics

	1 Miles	3 Miles	5 Miles
2027 Total Population :	9,245	43,808	93,350
2022 Total Population :	9,408	44,504	94,609
2022 Employed Civilian Pop :	4,519	20,146	41,014
2022 Total Businesses :	311	1,083	3,177
2022 Average Household Income :	$ 72,909	$ 69,695	$ 63,050
2022 Total Consumer Spending :	$ 237 M	$ 1042 M	$ 2042 M
2022 Median Age :	41	39	36
2022 Total Households :	3,776	17,334	37,365
2022 Pop Age 25+: Bachelor's Degree :	1,376	5,008	10,192
2022 Average Home Value :	$ 136,291	$ 152,212	$ 156,279

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Buffalo Rd	Teri Ave	2016	14,177	0.04 mi
Nagle Road	Cricket St	2019	10,762	0.21 mi
Buffalo Rd	Riverside Dr	2016	14,177	0.26 mi
Nagle Rd	Adelaide Dr	2019	9,504	0.38 mi
Buffalo Rd	Center St	2019	12,722	0.43 mi
Water St	Pearl Ave	2019	6,623	0.44 mi
Iroquois Avenue	Burkhart Ave	2019	5,157	0.50 mi
Station Rd	Edison Ave	2019	3,981	0.52 mi
Iroquois Ave	Tyndall Ave	2019	4,814	0.52 mi
Buffalo Road	Knoll Ave	2019	7,164	0.57 mi

Listing Broker

Chris Bosworth

CBRE

Contact

121 Listings
5896 Views
43 Sold

Brian Pfohl

CBRE: NLP Atlanta

Contact

122 Listings
5936 Views
41 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

...

Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

...

Thomas Carr

CBRE: NLP Atlanta

Contact

125 Listings
6013 Views
44 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT