Chipotle Mexican Grill

2 North Black Horse Pike, Bellmawr, NJ 08031

$2,400,000

Cap Rate 5.00%

Views: 119 DOM: 239 Updated: 11.07.24 Posted: 03.27.24 Status: Active

Summary

Price $2,400,000	Built/Renov 2021	Tenant Chipotle Mexican Grill
Cap Rate 5.00%	Lease Type NN+	Guarantor Corp Traded
Size/SF 2,325	Lease Start 11-17-2021	#Units 3,437
Price/SF $1,032.26	Expiration 11-30-2036	Tenant Type Fast Casual/Rest.
NOI $120,000	R. Term 12.0	Ownership Fee Simple
Rent/SF $51.61	Increases 10.0%/2/yrs	Pop 5Mi 274,674
Lot/AC 0.64	Options 3/5yrs/10%	AHHI 5Mi $110,995

Lease Highlights

Chipotle has 12 years remaining on the current lease term 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 is strategically located at the signalized, hard corner intersection of N Black Horse Pike and W. Browning Road, with access to a combined daily traffic count of 41,000 vehicles. The property boasts excellent visibility and access, featuring ingress/egress on both roads as well as two access points on W. Chestnut Avenue via a cross access easement with Club Diner. Furthermore, the...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Long 10+ yr lease
Favorable NN+ lease
Corporate Guarantee
Publicly traded company

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Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Bellmawr, New Jersey Zip Code 08031 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 :	12,657	108,852	274,514
2023 Total Population :	12,835	109,806	274,674
2023 Employed Civilian Pop :	6,806	58,885	141,431
2023 Total Businesses :	424	3,213	9,203
2023 Average Household Income :	$ 108,192	$ 114,092	$ 110,995
2023 Total Consumer Spending :	$ 478 M	$ 4389 M	$ 10625 M
2023 Median Age :	43	42	41
2023 Total Households :	5,211	45,110	111,747
2023 Pop Age 25+: Bachelor's Degree :	2,270	17,824	44,220
2023 Average Home Value :	$ 310,944	$ 313,452	$ 313,189

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
NJ 168	Walnut Ave	2022	26,858	0.07 mi
North Black Horse Pike	W Chestnut Ave	2019	26,858	0.10 mi
N Black Horse Pike	Walnut Ave	2011	27,972	0.12 mi
North Black Horse Pike	W Maple Ave	2017	25,386	0.12 mi
W Browning Rd	Railroad Ave	2014	14,440	0.21 mi
North Black Horse Pike		2018	25,518	0.34 mi
		2018	6,721	0.36 mi
	N Black Horse Pike	2018	3,354	0.38 mi
Walnut Ave	JrAve	2012	254	0.39 mi
	N Black Horse Pike	2018	2,642	0.40 mi

Listing Broker

Michael Shover

CBRE: NLPG Philadelphia

Contact

62 Listings
9267 Views
25 Sold

Matthew Gorman

CBRE: NLPG Philadelphia

Contact

62 Listings
9267 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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