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Views: 73 DOM: 135 Updated: 11.07.24 Posted: 07.09.24 Status: Active

Summary

Price $2,800,000
Built/Renov 2024
Tenant Chipotle Mexican Grill
Cap Rate 5.00%
Lease Type NN+
Guarantor Corp Traded
Size/SF 2,325
Lease Start 08-01-2024
#Units 3,437
Price/SF $1,204.30
Expiration 07-31-2039
Tenant Type Fast Casual/Rest.
NOI $140,000
R. Term 14.8
Ownership Fee Simple
Rent/SF $60.22
Increases 10.0%/5/yrs
Pop 5Mi 233,823
Lot/AC 0.46
Options 3/5yrs/10%
AHHI 5Mi $108,382

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease (NYSE: CMG)

Location Description

Chipotle Mexican Grill is strategically located at the signalized, hard corner intersection of White Horse Avenue and Route 33, with access to a combined daily traffic count of 32,000 vehicles. The property offers multiple points of ingress and egress and is situated less than a mile from the on/off ramps of Interstate-295 (75,300 VPD) and just over 3 miles from the Interstate-195 interchange...

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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...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 12,125 88,901 230,445
2024 Total Population : 12,317 90,243 232,194
2024 Employed Civilian Pop : 6,991 49,385 119,721
2024 Total Businesses : 492 3,088 8,343
2024 Average Household Income : $ 118,785 $ 119,919 $ 116,538
2024 Total Consumer Spending : $ 522 M $ 3600 M $ 8707 M
2024 Median Age : 47 41 39
2024 Total Households : 5,086 34,609 85,430
2024 Pop Age 25+: Bachelor's Degree : 2,976 15,601 35,067
2024 Average Home Value : $ 394,271 $ 385,916 $ 394,130
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Mercerville - Whitehorse Road Fenwood Ave 2019 12,590 0.06 mi
NJ 33 Fenwood Ave 2022 9,130 0.15 mi
State Route 33 Shady Ln 2013 20,660 0.15 mi
Mercerville - Whitehorse Road Estates Blvd 2019 13,121 0.18 mi
State Route 33 Fenwood Ave 2017 19,503 0.18 mi
Nottingham Way Regina Ave 2018 9,743 0.21 mi
Nottingham Way Regina Ave 2017 9,871 0.21 mi
Nottingham Way Berkeley St 2017 9,570 0.23 mi
Nottingham Way Clifford Ave 2009 19,810 0.25 mi
Nottingham Way Clifford Ave 2019 12,254 0.26 mi

Listing Broker

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