Property History
Faris Lee Investments is pleased to offer the fee simple interest (land & building) in a newly constructed, freestanding Chipotle located at 10415 Preston Highway, Louisville, Kentucky 40229 with a September 12, 2025 grand opening. This prime investment opportunity features a brand-new 2025 construction and the latest “Chipotlane” drive-thru prototype, designed to significantly boost sales volume and operational efficiency. The property comes with a strong, long-term seventeen (17) year absolute NNN lease with 4-5 year options, guaranteeing long-term stability and security for the investor. The lease includes scheduled rental increases throughout the term and option periods, ensuring a natural hedge against inflation and consistent cash flow. Investors will benefit from land and new building ownership with an investment grade tenant and zero deferred maintenance, providing unparalleled advantages in the robust Louisville market.
The tenant, Chipotle (NYSE: CMG), is an investment-grade, national credit tenant with a strong financial standing. As a publicly traded, international quick-service restaurant chain, Chipotle reported annual revenues exceeding $11.3 billion in 2024 and operates over 3,700 restaurants worldwide, including locations in the United States, Canada, the United Kingdom, France, Germany, Kuwait, and the United Arab Emirates. With approximately 130,000 employees and a market capitalization exceeding $75 billion as of July 2025, Chipotle continues to be a reliable and prestigious brand in the quick-service restaurant segment. The absolute NNN lease structure means Chipotle is responsible for all building, structure, and roof maintenance, as well as common area expenses like parking lot upkeep, landscaping, and lighting, eliminating landlord responsibilities for repairs and maintenance. Chipotle’s lease structure at this location offers ease of management and is ideal for passive investors or those seeking a 1031 exchange, as the tenant handles all property taxes, liability insurance, and recurring operating expenses.
Strategically positioned in a dynamic trade area, the property boasts excellent street visibility, fronting highly traveled Preston (61) Highway, which has over 55,000 vehicles per day. It is also adjacent to Interstate 265 (over 90,000 VPD), a major arterial, and in close proximity to Interstate 65 (135,000 VPD). This new pad building is situated in the heart of a large regional retail trade area, strategically located between a high-volume Chick-fil-A Restaurant and a Menards Home Improvement Superstore. Nearby major retailers include Walmart, Lowe’s Home Improvement, Kroger, Kohl’s, Meijer, Tractor Supply Co., and Cinemark Cinemas, ensuring a consistent flow of consumer traffic. Louisville is a major distribution hub experiencing high growth, with over 20 million square feet of distribution and warehousing complexes recently built in the county. Top employers in the area include Amazon, UPS, Ford Motor Co., Best Buy Logistics, and Gordon Food Service. The Louisville International Airport, just 9 miles from the property, is the third-largest cargo airport in North America. Furthermore, Ford Motor Co.’s commitment of over $5.8 billion to develop two state-of-the-art lithium battery plants in the trade area signals robust economic expansion and job growth. With a Louisville/Jefferson County, KY-IN Metro Area population of 1.36 million in 2023 and an average household income within one (1) mile of $92,076, the market demonstrates strong demographic fundamentals and consistent population growth. This investment presents a compelling opportunity to acquire a high-quality asset in a prime location with strong returns.
Chipotle (NYSE: CMG) National, credit tenant operates 3,700+ locations worldwide with $11.3B+ revenue and a $75B+ market cap.
New 17-year building lease with multiple 4–5 year options, offering long-term stability, land & building ownership, and tax benefits.
Absolute NNN lease – Chipotle responsible for all repairs, maintenance, and property expenses with no landlord obligations.
Brand new 2025 Chipotlane drive-thru prototype with fixed 10% rent increases every 5 years, boosting NOI, ROI, and providing inflation protection.
Adjacent to: 7 Brew, Chick-fil-A, Mike's Car Wash, Thorntons & Menards
New pad building with prime street visibility along Preston Hwy (55K+ VPD), adjacent to I-265 (90K+ VPD) and near I-65 (135K+ VPD).
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