Chipotle Mexican Grill

6 St Andrews Blvd, Chillicothe, OH 45601

$2,645,000

Cap Rate 5.50%

Views: 25 DOM: 53 Updated: 04.22.24 Posted: 03.25.24 Status: Active

Summary

Price $2,645,000	Built/Renov 2024	Tenant Chipotle Mexican Grill
Cap Rate 5.50%	Lease Type NN+	Guarantor Corp Traded
Size/SF 2,325	Lease Start 03-01-2024	#Units 3,437
Price/SF $1,137.63	Expiration 02-28-2039	Tenant Type Fast Casual/Rest.
NOI $145,500	R. Term 14.9	Ownership Fee Simple
Rent/SF $62.58	Increases 10.0%/5/yrs	Pop 5Mi 37,820
Lot/AC 5.50	Options 4/5yrs/10%	AHHI 5Mi $68,468

Lease Highlights

Brand-new 2024 construction | New prototype with “Chipotlane” drive-thru
Chipotle recently signed a new 15-year lease with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years
Favorable NN+ lease with landlord responsible for structure only
Corporate guaranteed lease (NYSE: CMG)

Location Description

Chipotle is strategically located on Western Avenue, with access to 18,771 vehicles passing by daily. The property is adjacent to a high-performing Kroger-anchored center and is surrounded by several K-12 schools with over 5,000 students. Additionally, it enjoys close proximity to Hocking Hills State Park, which attracts over 3 million visitors annually. The immediate trade area is surrounded...

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Key Features

New construction
Strategically located
Strong tenant synergy
Top 100 MSA
Brand new lease
Long 10+ yr lease
Limited competition
Favorable NN+ lease
Corporate Guarantee
Publicly traded company

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Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Chillicothe, Ohio Zip Code 45601 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 :	6,819	29,712	39,251
2023 Total Population :	6,783	29,670	39,228
2023 Employed Civilian Pop :	3,029	11,165	15,357
2023 Total Businesses :	192	1,233	1,580
2023 Average Household Income :	$ 99,878	$ 82,346	$ 80,557
2023 Total Consumer Spending :	$ 276 M	$ 797 M	$ 1041 M
2023 Median Age :	44	40	41
2023 Total Households :	3,184	11,085	14,801
2023 Pop Age 25+: Bachelor's Degree :	704	2,531	3,123
2023 Average Home Value :	$ 241,397	$ 217,002	$ 211,084

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Western Ave	Dun Rd	2003	13,850	0.22 mi
Western Avenue	Stanhope Dr	2021	13,214	0.38 mi
University Drive	Western Ave	2021	4,462	0.50 mi
Applewood Drive	Knoll Wood Ln	2021	914	0.55 mi
North Woodbridge Avenue	Annis Ct	2021	6,660	0.57 mi
Plyleys Lane	Bradford Dr	2021	3,030	0.57 mi
Western Avenue	S Woodbridge Ave	2021	19,299	0.61 mi
Page Road	Coventry Dr	2021	832	0.65 mi
Page Rd	Coventry Dr	2018	847	0.68 mi
Arch Street	Central Center	2021	4,947	0.69 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

162 Listings
6467 Views
73 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

163 Listings
6535 Views
74 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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