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Views: 36 DOM: 64 Updated: 04.30.24 Posted: 03.14.24 Status: Active

Summary

Price $3,431,000
Built/Renov 2024
Tenant Chipotle Mexican Grill
Cap Rate 5.10%
Lease Type NN+
Guarantor Corp Traded
Size/SF 2,325
Lease Start 06-01-2024
#Units 3,437
Price/SF $1,475.70
Expiration 06-01-2039
Tenant Type Fast Casual/Rest.
NOI $175,000
R. Term 15.0
Ownership Fee Simple
Rent/SF $75.27
Increases 10.0%/5/yrs
Pop 5Mi 65,748
Lot/AC 0.78
Options 4/5yrs/10%
AHHI 5Mi $89,479

Lease Highlights

  • Brand new 2024 construction
  • Chipotle will be executing a brand new 15-year lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Chipotle is strategically located on W Landis Avenue/State Hwy 56, with access to 19,600 vehicles passing by daily. The property is in close proximity to the signalized, hard corner intersection of State Hwy 47, with 31,700 VPD. The Walmart across the street ranks in the top 82% of all New Jersey locations, according to Placer.ai data. Additionally, it is located next to a new Lidl and along a...

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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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,667 37,316 64,785
2023 Total Population : 7,862 38,096 65,748
2023 Employed Civilian Pop : 3,014 15,736 28,053
2023 Total Businesses : 396 1,493 2,375
2023 Average Household Income : $ 70,354 $ 76,294 $ 89,479
2023 Total Consumer Spending : $ 175 M $ 912 M $ 1867 M
2023 Median Age : 34 36 39
2023 Total Households : 2,847 13,733 24,185
2023 Pop Age 25+: Bachelor's Degree : 655 3,379 7,041
2023 Average Home Value : $ 183,305 $ 214,094 $ 248,810
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Landis Avenue Delsea Dr 2017 16,183 0.15 mi
South Delsea Drive 2018 20,753 0.21 mi
North Delsea Drive W PkAve 2022 15,248 0.23 mi
N Delsea Dr W PkAve 2000 21,260 0.26 mi
South Delsea Drive W Almond St 2022 31,650 0.27 mi
West Landis Avenue Moyer St 2020 8,622 0.27 mi
South Orchard Road Woodlawn Ave 2019 5,377 0.41 mi
W Park Ave N Delsea Dr 2000 1,780 0.41 mi
West Park Avenue N Delsea Dr 2017 4,550 0.41 mi
Lubins Ln New Peach St 2000 62 0.42 mi

Listing Broker

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