9825 Johnstown Road, New Albany, OH 43054

Passov Group is pleased to present the opportunity to purchase Chipotle in New Albany, OH, comprising fee simple ownership of a corporately guaranteed NNN Chipotle built in 2024 and with 13.1 years remaining on the primary lease term, a 10% rent increase scheduled on 6/1/2029, and every 5 years thereafter. The subject is located on 1.0 AC along the Johnstown Rd (Rte 62) corridor in New Albany, Ohio. The property is offered at $2,466,000 (5.00% cap rate), reflecting $123,291 in annual base rent. The property is positioned on a 4-way signalized intersection with direct frontage to Johnstown Rd (27,000 VPD) and Walton Pkwy (6,000 VPD), with immediate proximity to SR-161 (60,000 VPD) 1,000 feet to the south, connecting New Albany to Greater Columbus. Given this is a new construction asset, the property requires zero deferred maintenance and offers investors a long runway before any capital investment is anticipated, which is a meaningful distinction in today's NNN market where vintage product carries increasing operational risk.

New Albany's growth story is backed by hard capital. Intel's $20B+ semiconductor campus has anchored a wave of corporate relocation, infrastructure investment, and residential absorption that has made this a strongly positioned retail corridor. The New Albany submarket, as the wealthiest community in the state, reflects that with median home values of $772,100 and average household incomes of $345,262, a consumer profile that has attracted a deep pool of retailer demand. Chipotle's site selection here, which entails one of the most critical site selection criteria within the QSR sector, is a direct indicator of the fundamental strength of the New Albany trade area. Compounding the location's durability is the near-absence of comparable alternatives within the submarket, as the supply constraints that make New Albany attractive to retailers are the same constraints that make relocation or replacement effectively a non-option for Chipotle, anchoring the tenancy to this specific corner for the long term. The broader Columbus MSA provides the macro foundation as the fastest-growing MSA in the Midwest, up 16% since 2010 with an additional 33% projected by 2050, having diversified well beyond its university roots into a $182B GDP economy that now ranks as the #3 largest hyperscale data center market in the country, with commitments from Meta, Google, and Amazon, creating a deeply-rooted demand environment that supports long-term investment performance.