Listed by SRS Real Estate Partners New York
$5,564,000
Chipotle & solidcore
Details
APN 17 00501-0000-00003
Property Type Retail
Sub Type Restaurant, Storefront
Square Footage 4,000
Cap Rate 5.25%
NOI $292,086
Occupancy 100%
Tenancy Multi
Brand/Tenant Chipotle
Price per SqFt $1,391
Year Built 2019
Acreage 0.420
Zoning G-C: General Commercial
Parking Spaces 32 spaces
Parking Per SqFt 8.00
Tenant Credit Corporate Guarantee
Ownership Fee Simple (Land & Building Ownership)
Highly Desirable Submarket
Marketing description
Investment highlights
- 100% occupied two-tenant retail investment property with two corporate-guaranteed leases
- Chipotle (NYSE: CMG):
- » Strong sales with over 23.5% increase in sales from 2023 – 2025
- » Early extension being finalized for Tenant to have more than 12 years of firm term
- » Near term rental increase of 12% in 2028
- Solidcore:
- » 2025 sales are above the breakpoint of $1,830,300
- » Early extension being finalized for Tenant to have more than 12 years of firm term
- » Strong sales and YOY sales growth
- » Strong embedded growth with 3% annual rental increases
- Positioned directly on State Highway 124 (119,800 VPD)
- Immediate access to Interstate-78 (191,300 VPD)
- Strategically located at the best pocket in New Jersey, being within 10 minutes drive to top tier towns including Summit, Chatham, Short Hills, Milburn, Madison, and New Providence
- Nearby national and credit tenants including King Food Markets, ShopRite, Walgreens, Pet Supplies Plus, and others
Listing Contacts
Listed by SRS Real Estate Partners New York
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$292,086.00
$24,340.50/mo
Valuation Metrics
0
DSCR
5.25%
Cap Rate
5.25%
ROI
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