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Views: 391 DOM: 274 Updated: 10.25.24 Posted: 07.04.24 Status: Active

Summary

Price $3,512,000
Built/Renov 2024
Tenant Chipotle Mexican Grill
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 2,325
Lease Start 10-01-2024
#Units 3,437
Price/SF $1,510.54
Expiration 10-01-2039
Tenant Type Fast Casual/Rest.
NOI $158,000
R. Term 14.6
Ownership Fee Simple
Rent/SF $67.96
Increases 10.0%/5/yrs
Pop 5Mi 343,054
Lot/AC 0.99
Options 4/5yrs/10%
AHHI 5Mi $102,446

Lease Highlights

  • Brand new 2024 construction
  • New 15-year lease with 4 (5-year) options to extend
  • 10% rental increases every 5 years in primary term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: CMG)

Location Description

Chipotle Mexican Grill is strategically located on S Collins Street, with access to 29,400 vehicles passing by daily. The property is conveniently situated just off I-20, which sees 172,500 VPD. Several new developments are adjacent to the site, including a Murphy Express, Dutch Bros, and a new A-Loft Hotel. It is near Arlington Airport and less than 12 miles from Dallas Fort Worth...

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Maps

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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...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 7,197 141,348 349,880
2024 Total Population : 7,294 140,529 344,260
2024 Employed Civilian Pop : 4,323 76,798 183,219
2024 Total Businesses : 354 4,662 10,961
2024 Average Household Income : $ 80,594 $ 88,025 $ 97,831
2024 Total Consumer Spending : $ 199 M $ 3775 M $ 10001 M
2024 Median Age : 33 34 34
2024 Total Households : 2,756 48,032 115,260
2024 Pop Age 25+: Bachelor's Degree : 730 16,742 48,124
2024 Average Home Value : $ 301,505 $ 304,576 $ 342,636
*ESRI data is presented for informational purposes only

Listing Broker

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Kyle Varni

Secure Net Lease

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  • 30 Listings
  • 7572 Views
  • 7 Sold
Bob Moorhead

Secure Net Lease

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  • 85 Listings
  • 14125 Views
  • 37 Sold

Kyle specializes in the acquisition and disposition of single-tenant and net-leased investment sales throughout the United States. Through his substantial market research, knowledge, and genuine interest in each client’s specific needs, he is able to advise clients to hit their investment goals and maximize their results. Kyle joined Secure Net Lease in 2021 from Marcus & Millichap where he started in 2018 as an agent in the Dallas office. He received the Marcus & Millichap Pace Sett

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Bob Moorhead is a founding partner of Secure Net Lease and brings over 20 years of commercial real estate experience to the executive team. Prior to Secure Net Lease, Bob was the Managing Director of EXP Realty Advisors (formerly Kimco Exchange Place) Dallas, Texas office. While at EXP, Bob was a top producer and responsible for establishing the Dallas office, building the team and platform. Since 2011, Bob has been involved in over 600 transactions with a value exceeding $1.5 billion.

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