Listed by Atlantic Capital Partners
$4,624,000
MTNL | Chipotle & McAlister's | Shelby, NC
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 6,500
Net Rentable (SqFt) 6,500
Cap Rate 6.40%
NOI $295,950
Occupancy 100%
Tenancy Multi
Brand/Tenant McDonald's, Chipotle
Lease Type NNN
Remaining Term 13
Rent Bumps Yes
Lease Options Yes
Class A
Year Built 2025
Acreage 1.990
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Ground Lease No
6.4% CAP | NEW CONSTRUCTION | 13 YEAR WALT
Investment highlights
ATTRACTIVE LEASE FUNDAMENTALS
- Chipotle has signed a new 10 year lease, with a corporate guarantee, and McAlisters signed a new 15 year lease
- Both leases include 10% rent increases every 5 years
- The two leases are Triple Net (NNN) with minimal LL responsibility
STRONG CREDIT TENANTS
- Chipotle is backed by Chipotle Corporate (market cap of over $74B)
- McAlister’s is backed by one of the largest Franchisee in the System
DENSE RETAIL NODE
- This site is located within a dense retail node just west of Charlotte, NC
- Within a 1-mile radius of the site is more than 1.4M SF of retail space
- Nearby National Retailers include: Walmart Supercenter, Lowe’s Home Improvement, ALDI, Tractor Supply Co, Ingles and more
POSITIONED OFF OF BUSY COMMUTER ROUTE
- Site is located off of E Dixon Blvd (36K VPD) and along a dense retail corridor
- The site benefits from multiple points of egress and ingress and a designated left turn lane into the site
IMMEDIATE MARKET DRIVERS
- Located less than half a mile from the site is Shelby High School which has more than 1,400 students enrolled
- The school employs more than 200 people and has a significant impact on the surrounding area
NEW CONSTRUCTION
- Constructed to meet tenant needs, the building includes a drive through lane for McAlisters
- New construction will provide transferable warranties for the roof & mechanical system to new Owner
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$295,950.00
$24,662.50/mo
Valuation Metrics
0
DSCR
6.4%
Cap Rate
6.4%
ROI
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