Chipotle Mexican Grill

2801 North Green River Road, Evansville, IN 47715

$2,695,238

Cap Rate 5.25%

Views: 119 DOM: 95 Updated: 10.08.24 Posted: 08.08.24 Status: Sold 11.11.24

Summary

Price $2,695,238	Built/Renov 2023	Tenant Chipotle Mexican Grill
Cap Rate 5.25%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 2,325	Lease Start 08-24-2023	#Units 3,437
Price/SF $1,159.24	Expiration 08-25-2038	Tenant Type Fast Casual/Rest.
NOI $141,500	R. Term 13.8	Ownership Fee Simple
Rent/SF $60.86	Increases 10.0%/5/yrs	Pop 5Mi 132,026
Lot/AC 0.85	Options 4/5yrs/10%	AHHI 5Mi $61,314

Lease Highlights

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

Location Description

Chipotle Mexican Grill is strategically located on N Green River Road, with access to 23,542 vehicles passing by daily. The property is surrounded by well-known national tenants, including Walmart Supercenter, Target, Meijer, Sam's Club, Costco, Menards, and more. Additionally, it is situated in an extremely dense retail corridor with numerous hotels within a 3-mile radius and is just minutes...

...

Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Strong tenant synergy
Dense 100M+ pop 5 mi
Absolute NNN
Long 10+ yr lease
Corporate Guarantee
Publicly traded company

...

Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Evansville, Indiana Zip Code 47715 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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	7,291	40,100	128,883
2024 Total Population :	7,468	40,674	129,859
2024 Employed Civilian Pop :	4,074	20,764	62,721
2024 Total Businesses :	582	2,912	5,876
2024 Average Household Income :	$ 63,891	$ 76,284	$ 75,719
2024 Total Consumer Spending :	$ 227 M	$ 1263 M	$ 3777 M
2024 Median Age :	46	40	39
2024 Total Households :	4,003	18,701	56,297
2024 Pop Age 25+: Bachelor's Degree :	1,367	6,469	17,033
2024 Average Home Value :	$ 193,382	$ 210,423	$ 217,256

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N Green River Rd	Sugar Creek Dr	2011	23,936	0.08 mi
Constellation Ave		2011	1,612	0.08 mi
Galaxy Dr	N Cullen Ave	2011	911	0.09 mi
N Green River Rd	Constellation Dr	2014	26,602	0.14 mi
Sugar Mill Creek Blvd		2011	1,443	0.16 mi
Sugar Creek Dr	N Green River Rd	2011	1,900	0.16 mi
N Green River Rd	Sugar Creek Dr	2011	24,863	0.22 mi
Autumnwood Way	Quail Hollow St	2013	910	0.35 mi
Autumnwood Way	Saddlebrook Ln	2013	1,105	0.40 mi
Spring Valley Rd	Creekside Dr	2010	3,420	0.40 mi

Listing Broker

Jordan Mulloy

Sands Investment Group

Contact

28 Listings
2245 Views
4 Sold

Max Freedman

Sands Investment Group

Contact

60 Listings
5185 Views
8 Sold

Jordan Mulloy

Investment Advisor at Sands Investment Group (SIG), a Commercial Real Estate Investment Brokerage Company based in Santa Monica, California. With offices nationwide, SIG is focused on investment sales of single tenant net leased retail properties. Jordan represents clients from Private Capital to Institutional Investors with a specialization in retail investment property sales. Jordan's focus is in the restaurant sector and he serves as an outsourced real estate arm for growing franchisees arou

...

Max Freedman

Max Freedman is a recognized industry leader focused on the Restaurant/C-Store real estate, heads the Austin office and the SIG Restaurant Group. Max is a founding partner and opened the first SIG office in Santa Monica, CA in 2009, with Chris Sands. He has excelled in building the company’s team culture and strategies you see today. Max has a strong team mentality and has had an integral part in recruiting several agents to Sands Investment Group. SIG’s restaurant group consists of nine agen

...

Will Schuhmacher

Sands Investment Group

Contact

29 Listings
2612 Views
4 Sold

Will Schuhmacher

Investment Advisor at Sands Investment Group (SIG), a Commercial Real Estate Investment Brokerage Company based in Santa Monica, California. With offices nationwide, SIG is focused on investment sales of single tenant net leased retail properties. Will represents clients from Private Capital to Institutional Investors with a specialization in retail investment property sales. Will's focus is in the restaurant sector and he serves as an outsourced real estate arm for growing franchisees around t

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT