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DOM: 37 Updated: 06.05.24 Posted: 11.29.23 Status: Sold 01.05.24

Summary

Price $2,500,000 $2,783,290
Built/Renov 2023
Tenant Chipotle Mexican Grill
Cap Rate 5.40% 4.85%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 2,325
Lease Start 04-26-2023
#Units 3,224
Price/SF $1,075.27 $1,197.11
Expiration 04-30-2038
Tenant Type Fast Casual/Rest.
NOI $134,990
R. Term 12.11
Ownership Fee Simple
Rent/SF $58.06
Increases 10.0%/4/yrs
Pop 5Mi 89,938
Lot/AC 0.62
Options 4/5yrs/10%
AHHI 5Mi $86,945

Lease Highlights

  • Brand new 2023 construction
  • Chipotle recently signed a new 15-year lease with 4 (5-year) renewal options
  • The lease features 10% rent increases every 5 years throughout the base term and at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

The subject property is extremely well located along E. County Line Road, the area’s primary commercial corridor that sees more than 36,500 vehicles passing by daily. Additionally, it is just steps from the intersection at E. County Line Rd. which boasts over 44,000 vehicles per day, and not far from Interstate 55 (104,100+ VPD). Notable tenants drawing consumers to the trade area include Home...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chipotle
  • Guarantor:Corp Traded
  • Company:Chipotle Mexican Grill, Inc.
  • # Units:3,224
  • Stock:NYSE: CMG

About Tenant

Chipotle Mexican Grill, Inc., (NYSE: CMG) often known simply as Chipotle, is an American chain of fast-casual restaurants in the U.S., United Kingdom, Canada, Germany, and France, specializing in...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,028 53,142 93,137
2023 Total Population : 6,104 53,660 94,065
2023 Employed Civilian Pop : 2,928 27,382 46,172
2023 Total Businesses : 678 3,294 5,524
2023 Average Household Income : $ 62,021 $ 77,245 $ 89,460
2023 Total Consumer Spending : $ 143 M $ 1596 M $ 3147 M
2023 Median Age : 33 36 38
2023 Total Households : 2,632 23,788 40,756
2023 Pop Age 25+: Bachelor's Degree : 731 10,207 19,431
2023 Average Home Value : $ 144,382 $ 227,809 $ 263,360
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East County Line Road Adcock St 2021 32,000 0.08 mi
E County Line Rd Ridgewood Ct Dr 2009 29,000 0.12 mi
E County Line Rd N I- 55 Hwy 51 2008 40,000 0.13 mi
Ridgewood Road Centre St 2021 6,600 0.14 mi
Ridgewood Rd Ridgewood Ct Dr 2009 19,000 0.14 mi
East County Line Road Ridgewood Rd 2018 32,000 0.15 mi
Ridgewood Rd Centre St 2009 6,100 0.17 mi
Dyess Rd 2021 8,900 0.28 mi
Dyess Rd 2021 4,500 0.30 mi
W Frontage Rd Vine St 2008 6,500 0.31 mi

Listing Broker

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