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Views: 96 DOM: 177 Updated: 10.29.24 Posted: 05.28.24 Status: Active

Summary

Price $4,590,000
Built/Renov 2024
Tenant Chipotle Mexican Grill (GL)
Cap Rate 4.25%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 2,325
Lease Start 09-01-2024
#Units 3,437
Price/SF $1,974.19
Expiration 08-31-2039
Tenant Type Fast Casual/Rest.
NOI $195,000
R. Term 14.9
Ownership Ground Lease
Rent/SF $83.87
Increases 10.0%/5/yrs
Pop 5Mi 87,463
Lot/AC 1.11
Options 4/5yrs/10%
AHHI 5Mi $103,707

Lease Highlights

  • Brand new 2024 construction
  • Chipotle will be executing a brand new 15-year ground 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 Mexican Grill is strategically located at the signalized, hard corner intersection of Sunrise Boulevard and Douglas Road, with access to a combined daily traffic count of 44,000 vehicles. The property is adjacent to future retail developments and surrounded by well-known national tenants, including Raley’s (ranked in the top 32% in the chain, per Placer.ai), Chase Bank, Cold Stone...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 specializes in...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 6,301 34,990 99,643
2024 Total Population : 5,690 32,359 96,041
2024 Employed Civilian Pop : 2,661 15,542 45,795
2024 Total Businesses : 174 1,325 4,677
2024 Average Household Income : $ 182,352 $ 175,237 $ 125,160
2024 Total Consumer Spending : $ 235 M $ 1500 M $ 3654 M
2024 Median Age : 36 37 38
2024 Total Households : 1,521 10,053 33,681
2024 Pop Age 25+: Bachelor's Degree : 1,226 6,922 16,474
2024 Average Home Value : $ 619,627 $ 619,468 $ 551,989
*ESRI data is presented for informational purposes only

Listing Broker

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