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Views: 129 DOM: 120 Updated: 10.15.24 Posted: 08.23.24 Status: Active

Summary

Price $3,381,000
Built/Renov 2024
Tenant Chipotle Mexican Grill
Cap Rate 4.65%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 2,335
Lease Start 11-29-2024
#Units 3,437
Price/SF $1,447.97
Expiration 11-30-2039
Tenant Type Fast Casual/Rest.
NOI $157,216
R. Term 14.11
Ownership Fee Simple
Rent/SF $67.33
Increases 10.0%/5/yrs
Pop 5Mi 104,997
Lot/AC 3.90
Options 3/5yrs/10%
AHHI 5Mi $93,326

Lease Highlights

  • Brand new 2024 construction
  • New 15-year lease with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Chipotle is strategically located on South Church Street, with access to a high daily traffic count of 50,028 vehicles. The property is surrounded by well-known national tenants, including Goodwill, Panera, Kia, Popeyes, McDonald’s, and more. It is also near Middle Tennessee State University, a major economic driver with over 22,000 enrolled students and one of the largest public universities...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 specializes in...


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Listing Broker

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