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Chipotle
28576 North El Mirage Road, Peoria, AZ 85383
$3,489,000
Cap Rate 4.50%
Views: 0 DOM: 103 Updated: 12.07.23 Posted: 08.30.23 Status: Contract 09.11.23
Summary
| Price $3,489,000 | Built/Renov 2023 | Tenant Chipotle |
| Cap Rate 4.50% | Lease Type
NN+ | Guarantor Corp Traded |
| Size/SF
2,400
| Lease Start
12-01-2023
| #Units
3,224
|
| Price/SF $1,453.75 | Expiration
12-01-2043
| Tenant Type Fast Casual/Rest. |
| NOI $157,000 | R. Term 19.12 | Ownership Fee Simple |
| Rent/SF
$65.42
| Increases 10.0%/5/yrs | Pop 5Mi 63,150 |
| Lot/AC 0.72 | Options 6/5yrs/10% | AHHI 5Mi $129,352 |
| | |
Lease Highlights
- Brand new 2023 construction with a "Chipotlane" drive-thru and 15-year roof warranty
- Chipotle recently singed a brand new 20-year lease with 6 (5-year) options to extend
- Lease features a 10% rental increase every 5 years throughout the initial term and at the start of each option
- Favorable NN+ lease with landlord responsible for the roof
- Corporate guarantee by Chipotle Mexican Grill, Inc. (NYSE: CMG)
Location Description
This newly constructed 2,400 square foot Chipotle is situated on a .71 acre parcel along North El Mirage Road seeing 6,700 vehicles per day. The site benefits from its location as an outparcel to a shopping center with neighboring tenants including Walgreens, AutoZone, Big Dreams Preschool and others. Additional national/credit tenants in the area include Safeway, Subway, Circle K, Starbucks,...
...Features
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New construction
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Roof guarantee
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Dense retail corridor
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Near major nationals
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Top 100 MSA
-
Affluent AHHI $100K 5 Mi
-
Brand new lease
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Long 20+ yr lease
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Corporate Guarantee
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Publicly traded company
...
Maps
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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 5,852 | 33,087 | 77,275 |
| 2023 Total Population : | 5,792 | 30,969 | 73,479 |
| 2023 Employed Civilian Pop : | 2,600 | 13,944 | 32,494 |
| 2023 Total Businesses : | 81 | 173 | 685 |
| 2023 Average Household Income : | $ 154,878 | $ 157,151 | $ 141,348 |
| 2023 Total Consumer Spending : | $ 290 M | $ 1515 M | $ 3313 M |
| 2023 Median Age : | 44 | 40 | 42 |
| 2023 Total Households : | 2,219 | 11,415 | 27,488 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,177 | 6,655 | 14,736 |
| 2023 Average Home Value : | $ 555,413 | $ 541,965 | $ 520,846 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| N Vistancia Bl | Vistancia Blvd | 2014 | 13,858 | 0.14 mi |
| North Westward Skies Drive | 120th Ln | 2019 | 9,081 | 0.35 mi |
| Vistancia Blvd | Sunrise Pt | 2014 | 9,905 | 0.41 mi |
| North Vistancia Boulevard | W Roy Rogers Rd | 2018 | 7,335 | 0.51 mi |
| North Vistancia Boulevard | Blue Sky Dr | 2018 | 7,907 | 0.60 mi |
| Ridgeline Rd | 122nd Dr | 2016 | 1,294 | 0.63 mi |
| el Mirage Rd | Blue Sky Dr | 2015 | 2,662 | 0.68 mi |
| Sunrise Pt | Nadine Way | 2015 | 1,090 | 0.80 mi |
| Sunset Pt | W Lone Mountain Pw | 2015 | 1,445 | 0.93 mi |
| West Lone Mountain Parkway | N el Mirage Rd | 2019 | 11,948 | 0.98 mi |
