Chipotle Mexican Grill

2014 NW Topeka Blvd, Topeka, KS 66608

$2,300,000

Cap Rate 4.85%

DOM: 95 Updated: 07.06.23 Posted: 04.07.23 Status: Sold 07.12.23

Summary

Price $2,300,000	Built/Renov 2022	Tenant Chipotle Mexican Grill
Cap Rate 4.85%	Lease Type NN+	Guarantor Corp Traded
Size/SF 2,325	Lease Start 12-19-2022	#Units 3,224
Price/SF $989.25	Expiration 12-31-2037	Tenant Type Fast Casual/Rest.
NOI $111,600	R. Term 12.5	Ownership Fee Simple
Rent/SF $48.00	Increases 10.0%/4/yrs	Pop 5Mi 79,451
Lot/AC 0.86	Options 4/5yrs/10%	AHHI 5Mi $59,587

Highlights

New 2022 construction
Chipotle recently signed a brand new 15 year lease with 4 (5-year) options to extend
Lease features 10% rental increases every 5 years and at each option period
Favorable NN+ lease with landlord responsibilities limited to roof and structure
Corporate guarantee by Chipotle Mexican Grill, Inc. (NYSE: CMG)

Location Description

This newly constructed Chipotle is strategically located along Northwest Topeka Boulevard with access to 17,182 vehicles per day. The site is just off of Highway 24, a major east-west highway, averaging 24,000 vehicles per day. The tenant is situated on Topeka’s main retail corridor with national/credit tenants including Walmart Supercenter, Aldi, AutoZone, Ace Hardware, Dollar General,...

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Key Features

New construction
New prototype
Major thoroughfare
Dense retail corridor
Near major nationals
Highway close
Brand new lease
Long 15+ yr lease
Corporate Guarantee
Publicly traded company

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Links

Chipotle Wikipedia Chipotle Wikipedia Topeka, Kansas Zip Code 66608 Broker Site Page

Maps

Local Information

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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,031	27,210	76,421
2023 Total Population :	4,011	27,477	77,412
2023 Employed Civilian Pop :	1,841	12,224	35,614
2023 Total Businesses :	319	2,270	3,950
2023 Average Household Income :	$ 60,122	$ 58,049	$ 65,726
2023 Total Consumer Spending :	$ 89 M	$ 576 M	$ 1844 M
2023 Median Age :	42	38	38
2023 Total Households :	1,696	11,319	32,142
2023 Pop Age 25+: Bachelor's Degree :	302	2,400	8,664
2023 Average Home Value :	$ 104,530	$ 131,880	$ 152,838

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Northwest Topeka Boulevard	NW Independence Ave	2018	17,765	0.07 mi
Northwest Lyman Road	NW Cardinal Dr	2021	4,447	0.15 mi
Northwest Topeka Boulevard	NW Morse St	2021	16,028	0.16 mi
Northwest Lyman Road	NW Logan St	2018	3,840	0.22 mi
	N Kansas Ave	2021	7,064	0.22 mi
	NW Cardinal Dr	2021	7,238	0.27 mi
	Topeka Blvd	2021	1,765	0.28 mi
	Topeka Blvd	2021	825	0.30 mi
	NW Jay St	2021	7,617	0.30 mi
Northwest Topeka Boulevard	US Hwy 75 Alt	2021	18,684	0.31 mi

Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
33574 Views
80 Sold

Bill Asher

Hanley Investment Group

Contact

151 Listings
34531 Views
77 Sold

Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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