Chipotle Mexican Grill

1000 Missouri Avenue North, Largo, FL 33770

$4,353,000

Cap Rate 4.25%

Views: 20 DOM: 26 Updated: 04.20.24 Posted: 04.20.24 Status: Active

Summary

Price $4,353,000	Built/Renov 2000/2024	Tenant Chipotle Mexican Grill
Cap Rate 4.25%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 2,975	Lease Start 08-01-2024	#Units 3,437
Price/SF $1,463.19	Expiration 08-01-2039	Tenant Type Fast Casual/Rest.
NOI $185,000	R. Term 15.2	Ownership Fee Simple
Rent/SF $62.18	Increases 10.0%/5/yrs	Pop 5Mi 569,745
Lot/AC 0.55	Options 4/5yrs/10%	AHHI 5Mi $88,410

Lease Highlights

Brand new 2024 Renovations
Chipotle will be executing a brand new 15-year lease with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease (NYSE: CMG)

Location Description

Chipotle is strategically located on Missouri Avenue, with access to 34,100 vehicles passing by daily. The property is positioned as an outparcel to a Walmart Supercenter with multiple points of entry. Additionally, the site is a former Burger King that is currently undergoing renovations to build a new Chipotlane with an estimated August 2024 grand opening. The immediate trade area is...

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Key Features

Recent renovation
Dense retail corridor
WalMart out-parcel
Top 100 MSA
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Corporate Guarantee
Publicly traded company

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Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Largo, Florida Zip Code 33770 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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	17,411	110,039	249,783
2023 Total Population :	17,235	110,454	250,648
2023 Employed Civilian Pop :	8,494	54,150	127,612
2023 Total Businesses :	698	6,044	13,622
2023 Average Household Income :	$ 69,629	$ 81,216	$ 88,410
2023 Total Consumer Spending :	$ 503 M	$ 3633 M	$ 8848 M
2023 Median Age :	48	51	50
2023 Total Households :	8,251	51,364	115,037
2023 Pop Age 25+: Bachelor's Degree :	2,443	17,384	40,696
2023 Average Home Value :	$ 255,089	$ 325,452	$ 368,088

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Missouri Avenue North	Rosery Rd NE	2019	33,500	0.14 mi
Missouri Avenue North	Rosery Rd NE	2022	30,000	0.14 mi
Rosery Rd NW	2nd St	2018	2,400	0.20 mi
Rosery Road Northwest	2nd St	2022	800	0.29 mi
Rosery Rd NE	Vancouver Dr	2011	10,280	0.33 mi
South Betty Lane	Auburn St	2022	2,300	0.48 mi
Missouri Ave N	4th Ave NW	2011	34,000	0.49 mi
Rosery Rd NE	Balboa Ln	2011	8,997	0.52 mi
Missouri Ave N	2nd Ave NE	2011	34,115	0.60 mi
Clearwater Largo Rd N	10th Ave NW	2005	27,500	0.64 mi

Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

211 Listings
8758 Views
69 Sold

William Wamble

SRS National Net Lease Group

Contact

133 Listings
6342 Views
30 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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