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DOM: 129 Updated: 09.30.23 Posted: 05.08.23 Status: Sold 09.15.23

Summary

Price $2,417,800 $2,641,000
Built/Renov 2022
Tenant Chipotle Mexican Grill
Cap Rate 5.19% 4.75%
Lease Type NN+
Guarantor Corp Traded
Size/SF 2,412
Lease Start 04-01-2023
#Units 3,224
Price/SF $1,002.40 $1,094.94
Expiration 04-01-2038
Tenant Type Fast Casual/Rest.
NOI $125,424
R. Term 12.11
Ownership Fee Simple
Rent/SF $52.00
Increases 9.0%/5/yrs
Pop 5Mi 169,700
Lot/AC 0.60
Options 4/5yrs/9%
AHHI 5Mi $88,781

Lease Highlights

  • New 2022 construction
  • Brand-new 15-year lease with 4 (5-year) options to extend
  • Lease features $5.00 per square foot rental increases every 5 years during the initial term and at the start of each option period.
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee by Chipotle Mexican Grill, Inc. (NYSE: CMG)

Location Description

This newly constructed Chipotle is strategically situated at the signalized, hard corner of Broadway and Monona Drive which see a combined 36,300 vehicles passing daily, and just off Highway 18/Frank Lloyd Wright Memorial Highway which sees 126,000 vehicles passing per day. The site is across from Pier 37, a 117K SF grocery anchored center featuring Metro Market, Starbucks, Verizon, Taco Bell,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chipotle
  • Guarantor:Corp Traded
  • Company:Chipotle Mexican Grill, Inc.
  • # Units:3,224
  • Stock:NYSE: CMG

About Tenant

Chipotle Mexican Grill, Inc., (NYSE: CMG) often known simply as Chipotle, is an American chain of fast casual restaurants in the U.S., United Kingdom, Canada, Germany, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,240 39,668 177,513
2023 Total Population : 6,087 38,634 170,841
2023 Employed Civilian Pop : 3,065 21,247 100,077
2023 Total Businesses : 471 2,121 7,782
2023 Average Household Income : $ 82,668 $ 103,982 $ 89,819
2023 Total Consumer Spending : $ 224 M $ 1525 M $ 6009 M
2023 Median Age : 43 41 30
2023 Total Households : 3,107 17,042 76,843
2023 Pop Age 25+: Bachelor's Degree : 1,372 9,077 34,843
2023 Average Home Value : $ 353,750 $ 373,364 $ 383,926
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Monona Dr River Pl 2018 20,800 0.10 mi
Monona Dr Kings Row 2015 18,900 0.10 mi
S Beltline Hwy Monona Dr 2018 8,900 0.16 mi
S Beltline Hwy Monona Dr 2018 7,500 0.20 mi
S Beltline Hwy Monona Dr 2018 5,400 0.21 mi
S Beltline Hwy Monona Dr 2018 4,500 0.25 mi
W Broadway Interlake Dr 2018 15,500 0.30 mi
E Broadway Edna Taylor Pkwy 2018 12,700 0.36 mi
Femrite Dr Roselawn Ave 2009 3,150 0.40 mi
Femrite Dr Roselawn Ave 2009 2,500 0.41 mi

Listing Broker

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