Chipotle Mexican Grill

6830 Lake Plaza Drive, Indianapolis, IN 46220

$2,451,000

Cap Rate 5.10%

$2,500,000

Cap Rate 5.00%

DOM: 141 Updated: 02.26.24 Posted: 09.28.23 Status: Sold 02.16.24

Summary

Price $2,451,000 $2,500,000	Built/Renov 2023	Tenant Chipotle Mexican Grill
Cap Rate 5.10% 5.00%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 2,325	Lease Start 08-24-2023	#Units 3,437
Price/SF $1,054.19 $1,075.27	Expiration 08-31-2038	Tenant Type Fast Casual/Rest.
NOI $125,000	R. Term 13.3	Ownership Fee Simple
Rent/SF $53.76	Increases 10.0%/5/yrs	Pop 5Mi 194,585
Lot/AC 0.74	Options 4/5yrs/10%	AHHI 5Mi $87,735

Lease Highlights

New 2023 Construction with a "Chipotlane" Drive-Thru
Tenant recently signed a brand-new 15-year lease with 4 (5-year) options to extend
Lease features 10% rental increases every 5 years
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Chipotle is strategically located on a hard corner intersection along Lake Plaza Drive, with excellent visibility from Binford Blvd., a significant Indianapolis thoroughfare that sees in excess of 37,145 combined vehicles per day at the intersection. It is also across from a top performing Kroger, ranked #29 out of 101 Krogers in Indiana, which creates a strong consumer draw to the trade area....

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Key Features

Signalized intersection
Near major nationals
Strategically located
Dense 100M+ pop 5 mi
Affluent suburb location
Brand new lease
Low rent to sales ratio
Absolute NNN
Corporate Guarantee
Publicly traded company

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Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Indianapolis, Indiana Zip Code 46220 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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,264	63,698	195,507
2023 Total Population :	7,367	64,169	195,512
2023 Employed Civilian Pop :	4,097	36,789	106,643
2023 Total Businesses :	491	3,599	10,308
2023 Average Household Income :	$ 137,709	$ 104,368	$ 99,557
2023 Total Consumer Spending :	$ 332 M	$ 2726 M	$ 7582 M
2023 Median Age :	42	39	38
2023 Total Households :	2,837	30,159	87,855
2023 Pop Age 25+: Bachelor's Degree :	2,124	16,014	42,207
2023 Average Home Value :	$ 348,335	$ 311,631	$ 278,569

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Binford Blvd	Graham Rd	2009	42,327	0.08 mi
Graham Rd	Kirkpatrick Way	2017	7,761	0.08 mi
Graham Road	E 71st St	2021	2,973	0.15 mi
Local	E 71st St	2020	2,794	0.15 mi
Binford Boulevard	Graham Rd	2021	34,168	0.16 mi
Graham Rd	Wyckfield Way	2009	4,026	0.20 mi
E 65th Pl	Graham Rd	2007	1,498	0.29 mi
Ashurst Street	Knyghton Rd	2021	2,162	0.43 mi
Graham Rd	Attleboro Ct	2009	3,644	0.46 mi
Green Leaves Road	E 65th St	2021	4,425	0.47 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
34039 Views
127 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
34150 Views
128 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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