Chipotle Mexican Grill

465 NJ-37, Toms River, NJ 08753

$2,840,000

Cap Rate 5.00%

Views: 117 DOM: 239 Updated: 11.07.24 Posted: 03.27.24 Status: Active

Summary

Price $2,840,000	Built/Renov 2023	Tenant Chipotle Mexican Grill
Cap Rate 5.00%	Lease Type NN+	Guarantor Corp Traded
Size/SF 2,325	Lease Start 12-31-2023	#Units 3,437
Price/SF $1,221.51	Expiration 12-31-2038	Tenant Type Fast Casual/Rest.
NOI $142,000	R. Term 14.1	Ownership Fee Simple
Rent/SF $61.08	Increases 10.0%/5/yrs	Pop 5Mi 133,470
Lot/AC 0.70	Options 3/5yrs/10%	AHHI 5Mi $116,973

Lease Highlights

Brand new 2023 construction 
Brand 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 first two option periods, 5% for the remaining option
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease (NYSE: CMG)

Location Description

Chipotle is strategically located at the signalized, hard corner intersection of NJ-37 and Washington Street, with access to a combined daily traffic count of 43,500 vehicles. The property features ingress/egress on both roads and is surrounded by well-known national retailers, including Stop & Shop, Big Lots, Walgreens, Wendy's, McDonald's, Taco Bell, and more. The 5-mile trade area is...

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Key Features

New construction
Signalized intersection
Roof guarantee
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Long 15+ yr lease
Favorable NN+ lease
Corporate Guarantee

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Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Toms River, New Jersey Zip Code 08753 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 :	9,590	76,780	136,947
2023 Total Population :	9,300	74,419	133,482
2023 Employed Civilian Pop :	4,884	39,086	65,796
2023 Total Businesses :	258	2,891	4,623
2023 Average Household Income :	$ 124,030	$ 118,611	$ 116,725
2023 Total Consumer Spending :	$ 344 M	$ 2780 M	$ 5223 M
2023 Median Age :	43	42	47
2023 Total Households :	3,315	27,722	52,611
2023 Pop Age 25+: Bachelor's Degree :	1,797	12,781	22,818
2023 Average Home Value :	$ 526,134	$ 444,512	$ 445,330

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Locust St E	Brookside Dr	2005	46,928	0.03 mi
Washington St	Whittier Ave	2013	5,793	0.12 mi
Locust Street E	Batchelor St	2017	38,261	0.23 mi
Brookside Drive	Raleigh Dr	2017	3,509	0.39 mi
Locust St E	Breton Harbors Dr	2013	29,836	0.41 mi
Cedar Dr	Pine St	2012	120	0.43 mi
Locust St E	Peter Ave	2012	41,071	0.54 mi
Brookside Drive	Ocean View Dr	2019	4,243	0.61 mi
W End Ave	Abbott Ave	2012	5,832	0.61 mi
Washington St	Vine Ave	2007	11,100	0.62 mi

Listing Broker

Michael Shover

CBRE: NLPG Philadelphia

Contact

62 Listings
9279 Views
25 Sold

Matthew Gorman

CBRE: NLPG Philadelphia

Contact

62 Listings
9279 Views
25 Sold

Michael Shover

Michael Shover joined CBRE as Senior Vice President in 2015 specializing in the sale of Net Lease properties in the Mid-Atlantic Region and throughout the country. Shortly after, Michael was inducted into CBRE’s exclusive Net Lease Property Group, leading and specializing in the Mid-Atlantic area. The Net Lease Property Group comprises of a team of senior advisors located within major metropolitan areas throughout the United States who are dedicated to transacting single-tenant assets and net-l

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Matthew Gorman

Matthew Gorman joined CBRE as Senior Vice President in 2015 specializing in the sale of Net Lease properties in the Mid-Atlantic Region and throughout the country. Matthew and his team's primary goal is to execute for their clients at the highest level by representing their best interests professionally, honestly and with integrity in all aspects of the marketing and sales process. Shortly after joining CBRE, Matthew was inducted into the exclusive Net Lease Property Group, leading the Philadel

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