Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
$3,031,000
Chipotle - Scottsdale
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,325
Cap Rate 4.75%
NOI $144,000
Occupancy 100%
Tenancy Single
Brand/Tenant Chipotle
Lease Type NN
Lease Term 10
Lease Expiration 04/30/2034
Remaining Term 8
Rent Bumps Yes
Lease Options 4, 5 Year Options
Year Built 2024
Lot Size (SqFt) 29,758
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/05/2024
Ground Lease No
Rare Opportunity to Buy in Scottsdale, AZ | 8+ Yrs Remaining | Low Rent
Marketing description
Chipotle Mexican Grill, Inc. (NYSE: CMG) is an American chain of fast casual restaurants in the United States, United Kingdom, Canada, Germany, and France, known for its large burritos, assembly-line production, and use of natural ingredients.
Adjacent to the Greater Phoenix Area, Scottsdale is known as “the West’s most Western town” and was described in the New York Times as “a desert version of Miami’s South Beach.” With a population of more than 240,000, the City of Scottsdale is among Arizona’s ten largest cities.
Investment highlights
- Rare Opportunity to Buy in Scottsdale
- More Than 8 Years Remaining on Corporate Lease with Chipotle (NYSE: CMG)
- 282,636 Residents within a Five-Mile Radius - Households and Population Projected to Increase 4 Percent in the Surrounding Area by 2030
- Multiple Renewal Options with 10 Percent Rental Increases Every Five Years
- Average Household Income Exceeds $107,000 within Three Miles
Listing Contacts
Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$144,000.00
$12,000.00/mo
Valuation Metrics
0
DSCR
4.75%
Cap Rate
4.75%
ROI
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