Chipotle Mexican Grill

5411 Perkiomen Avenue, Reading, PA 19606

$2,727,000

Cap Rate 5.50%

Views: 218 DOM: 295 Updated: 10.24.24 Posted: 01.31.24 Status: Active

Summary

Price $2,727,000	Built/Renov 1996/2023	Tenant Chipotle Mexican Grill
Cap Rate 5.50%	Lease Type NN+	Guarantor Corp Traded
Size/SF 3,150	Lease Start 12-01-2024	#Units 3,437
Price/SF $865.71	Expiration 12-31-2039	Tenant Type Fast Casual/Rest.
NOI $150,000	R. Term 15.1	Ownership Fee Simple
Rent/SF $47.62	Increases 10.0%/5/yrs	Pop 5Mi 90,924
Lot/AC 1.12	Options 3/5yrs/10%	AHHI 5Mi $80,749

Alan Cafiero

Marcus & Millichap

Contact

Lease Highlights

Chipotle will be executing a brand-new 15-year lease with 3 (5-year) options to extend upon close of escrow
The lease features 10% rental increases every 5 years throughout the initial term and each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease (NYSE: CMG)

Location Description

Chipotle is strategically located on Perkiomen Ave, with access to a substantial daily traffic count of 42,300 vehicles. It occupies a prime location just off Shelbourne Road, which sees an additional 3,590 vehicles daily. Positioned across from well-known national retailers such as Home Depot and Walmart, and just 1.5 miles from Exeter Commons, home to anchor tenants like Target and Lowe's,...

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Key Features

Recent renovation
Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Brand new lease
Long 15+ yr lease
Favorable NN+ lease
Corporate Guarantee
Publicly traded company

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Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Exeter Township, Pennsylvania Zip Code 19606 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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