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Views: 134 DOM: 118 Updated: 12.16.24 Posted: 08.20.24 Status: Sold 12.16.24

Summary

Price $2,320,000
Built/Renov 2023
Tenant Chipotle Mexican Grill
Cap Rate 4.85%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 2,400
Lease Start 03-01-2023
#Units 3,437
Price/SF $966.67
Expiration 02-28-2038
Tenant Type Fast Casual/Rest.
NOI $112,500
R. Term 13.2
Ownership Fee Simple
Rent/SF $46.88
Increases 10.0%/5/yrs
Pop 5Mi 31,263
Lot/AC 0.65
Options 4/5yrs/10%
AHHI 5Mi $58,924

Lease Highlights

  • New 2023 construction
  • Chipotle Mexican Grill has 13+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: CMG)

Location Description

Chipotle Mexican Grill is strategically located on Blowing Rock Road, with access to 31,834 vehicles passing by daily. The property is situated in a strong retail corridor, surrounded by well-known national tenants including Aldi, Tractor Supply, Walmart Supercenter, Planet Fitness, and Dunham’s Sports. The 5-mile trade area supports a population of 31,263 residents with an average household...

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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 : 3,908 18,143 31,099
2024 Total Population : 3,886 18,145 31,225
2024 Employed Civilian Pop : 1,565 7,809 13,484
2024 Total Businesses : 556 1,084 1,418
2024 Average Household Income : $ 58,183 $ 66,220 $ 66,900
2024 Total Consumer Spending : $ 85 M $ 453 M $ 780 M
2024 Median Age : 42 44 44
2024 Total Households : 1,636 7,603 12,918
2024 Pop Age 25+: Bachelor's Degree : 468 1,916 3,227
2024 Average Home Value : $ 219,318 $ 219,396 $ 228,114
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US 321;NC 90 Commercial Ct NE 2022 29,886 0.11 mi
Harper Avenue Northwest Morganton Blvd SW 2022 22,645 0.15 mi
Pennton Ave NW 2022 6,518 0.22 mi
Wilkesboro Boulevard Southeast Linkside Ct 2022 18,282 0.23 mi
Harper Ave NW Palmer St NW 2004 14,000 0.26 mi
Harper Ave NW 2021 2,290 0.26 mi
Hickory Boulevard Hickory Blvd SW 2022 27,737 0.30 mi
Newland Pl NW 2022 8,032 0.31 mi
Wilkesboro Blvd NE 2022 2,751 0.33 mi
Blowing Rock Boulevard Commercial Ct NE 2022 27,842 0.34 mi

Listing Broker

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