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Chipotle
1800 Gallatin Pike North, Madison, TN 37115
$2,940,000
Cap Rate 4.00%
Summary
| Price $2,940,000 | Built/Renov 2021 | Tenant Chipotle |
| Cap Rate 4.00% | Lease Type
Abs NNN | Guarantor Corp Traded |
| Size/SF
2,325
| Lease Start
05-01-2021
| #Units
3,224
|
| Price/SF $1,264.52 | Expiration
04-30-2036
| Tenant Type Fast Casual/Rest. |
| NOI $117,600 | R. Term 12.4 | Ownership Fee Simple |
| Rent/SF
$50.58
| Increases 10.0%/3/yrs | Pop 5Mi 109,324 |
| Lot/AC 0.70 | Options 4/5yrs/10% | AHHI 5Mi $76,859 |
| | |
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__801199477.png "STREAM Capital Partners")
Lease Highlights
- Chipotle has been operating in this location since 2021
- The tenant has over 12 years remaining on its current lease term with 4 (5-year) options to extend
- The lease features 10% rent increases every 5 years throughout the initial term and at each option
- Absolute NNN lease | Zero landlord responsibilities
- Corporate guarantee by Chipotle Mexican Grill, Inc. (NYSE: CMG)
Location Description
Chipotle is strategically located near the signalized, hard corner intersection of Rivergate Parkway and Gallatin Parkway North which sees a combined 67,500 vehicles per day. The property is ideally situated within a major retail corridor with nearby national tenants such as Home Depot, Office Depot, TJ Maxx, Dollar Tree, Walgreens, Jared, Target, Bed, Bath & Beyond, JC Penny and many others....
...Features
-
New construction
-
High traffic 50M+ VPD
-
Dense retail corridor
-
Near major nationals
-
Dense 100M+ pop 5 mi
-
Top 100 MSA
-
Income tax free state
-
Absolute NNN
-
Corporate Guarantee
-
Publicly traded company
...
Maps
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 5,998 | 43,363 | 111,575 |
| 2023 Total Population : | 5,992 | 43,083 | 108,864 |
| 2023 Employed Civilian Pop : | 3,242 | 22,113 | 57,299 |
| 2023 Total Businesses : | 591 | 1,979 | 4,004 |
| 2023 Average Household Income : | $ 72,040 | $ 71,665 | $ 82,719 |
| 2023 Total Consumer Spending : | $ 174 M | $ 1150 M | $ 3291 M |
| 2023 Median Age : | 37 | 37 | 40 |
| 2023 Total Households : | 2,755 | 18,340 | 45,761 |
| 2023 Pop Age 25+: Bachelor's Degree : | 814 | 5,770 | 16,539 |
| 2023 Average Home Value : | $ 293,874 | $ 327,510 | $ 360,292 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Gallatin Pike | Riverchase Blvd | 2022 | 31,639 | 0.17 mi |
| US 31E | Cude Ln | 2021 | 35,496 | 0.17 mi |
| US 31E | Alta Loma Rd | 2021 | 26,747 | 0.32 mi |
| Rivergate Parkway | Wren Rd | 2022 | 26,667 | 0.44 mi |
| Gallatin Pike N | Twin Hills Dr | 2013 | 31,803 | 0.44 mi |
| Alta Loma Road | Monticello Ave | 2022 | 8,540 | 0.57 mi |
| Vietnam Veterans Boulevard | Vietnam Veterans Blvd | 2018 | 72,229 | 0.59 mi |
| Rivergate Dr | 2022 | 17,752 | 0.60 mi | |
| Vietnam Veterans Blvd | 2022 | 4,827 | 0.64 mi | |
| Vietnam Veterans Blvd | Vietnam Veterans Blvd | 2022 | 71,778 | 0.65 mi |
