Chipotle Mexican Grill

5411 Perkiomen Avenue, Reading, Exeter, PA 19606

$2,803,000

Cap Rate 5.35%

Views: 35 DOM: 106 Updated: 04.23.24 Posted: 01.31.24 Status: Active

Summary

Price $2,803,000	Built/Renov 1996/2023	Tenant Chipotle Mexican Grill
Cap Rate 5.35%	Lease Type NN+	Guarantor Corp Traded
Size/SF 3,150	Lease Start 05-01-2024	#Units 3,437
Price/SF $889.84	Expiration 04-30-2039	Tenant Type Fast Casual/Rest.
NOI $150,000	R. Term 14.11	Ownership Fee Simple
Rent/SF $47.62	Increases 10.0%/5/yrs	Pop 5Mi 90,924
Lot/AC 1.12	Options 3/5yrs/10%	AHHI 5Mi $80,749

Alan Cafiero

Marcus & Millichap

Contact

Lease Highlights

Chipotle will be executing a brand-new 15-year lease with 3 (5-year) options to extend upon close of escrow
The lease features 10% rental increases every 5 years throughout the initial term and each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease (NYSE: CMG)

Location Description

Chipotle is strategically located on Perkiomen Ave, with access to a substantial daily traffic count of 42,300 vehicles. It occupies a prime location just off Shelbourne Road, which sees an additional 3,590 vehicles daily. Positioned across from well-known national retailers such as Home Depot and Walmart, and just 1.5 miles from Exeter Commons, home to anchor tenants like Target and Lowe's,...

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Key Features

Recent renovation
Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Brand new lease
Long 15+ yr lease
Favorable NN+ lease
Corporate Guarantee
Publicly traded company

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Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Exeter Township, Pennsylvania Zip Code 19606 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 :	7,087	30,081	94,876
2023 Total Population :	7,068	30,179	94,499
2023 Employed Civilian Pop :	3,359	15,912	44,665
2023 Total Businesses :	192	861	2,481
2023 Average Household Income :	$ 118,756	$ 114,331	$ 85,338
2023 Total Consumer Spending :	$ 270 M	$ 1123 M	$ 2622 M
2023 Median Age :	45	44	38
2023 Total Households :	2,670	11,497	35,486
2023 Pop Age 25+: Bachelor's Degree :	1,601	5,007	10,180
2023 Average Home Value :	$ 283,808	$ 276,090	$ 240,279

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
		2019	1,867	0.03 mi
		2019	2,507	0.19 mi
Perkiomen Avenue	Cardinal Dr	2022	17,271	0.52 mi
Perkiomen Ave	Fairlane Rd	2019	22,253	0.52 mi
Perkiomen Avenue	Shelbourne Rd	2022	14,888	0.57 mi
Lorane Rd	Ahrens Rd	2016	2,839	0.72 mi
Lorane Road	Rittenhouse Dr	2019	2,849	0.76 mi
Lincoln Rd	Ritz Ave	2017	2,068	0.78 mi
W 47th St	Oak Pkwy	2017	6,857	0.85 mi
Shelbourne Road	Pennsylvania Ave	2021	3,909	0.89 mi

Listing Broker

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