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Restaurant

Chipotle Drive-Thru | NNN Lease

8705 S Emerson Ave, Indianapolis, IN 46237

Listing Price: $2,873,563

Cap Rate
4.35%
Tenant Name
Chipotle
Years Remaining On Lease
9.6
Guarantor
Corporate Guarantee
Rentable SF
2,325
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$53.76

Investment Overview

BRAND NEW 10-YEAR CORPORATE NNN LEASE The subject property operates under a new modified triple-net lease (NNN) with minimal landlord responsibilities. Please see the Tenant & Landlord Obligations page for further details. 10% RENT INCREASES IN YEAR 6 AND EACH 5-YEAR OPTION PERIOD This investment will offer a new owner significant upside due to the financial strength and the proven profitability of the tenant. DRIVE-THRU LOCATION ALONG COMMERCIAL CORRIDOR This property features a “Chipotlane,” one of Chipotle’s new drive-thru models that allow customers to pick up mobile orders via drive-thru lanes. The company reports that drive-thru locations were responsible for 46% of 2020 sales and delivery/pickup is up 174% year over year. CORPORATELY GUARANTEED LEASE (NYSE: CMG) The lease is guaranteed by Chipotle Mexican Grill, Inc. who reported revenues of $7.5 billion in 2021, an increase of 26.1% over the prior year. This growth was driven by new restaurant openings and a 19.3% increase in comparable restaurant sales. The company’s revenue is expected to surpass $8.6 billion by 2022 as they continue to drive growth with new store openings and innovative restaurant concepts. RAPIDLY INFILLING CORRIDOR WITH SIGNIFICANT NEW DEVELOPMENT The property has excellent access and visibility on Emerson Ave, where traffic counts exceed 18,748 vehicles per day. The location provides easy access to Interstate 65 (0.7 miles) and U.S. Hwy 31 (2.6 miles). It is surrounded by national retailers and traffic-driving tenants including Costco, Starbucks, Walmart, CVS, Sam’s Club, Kroger and many more. NEAR FRANCISCAN HEALTH HOSPITAL (519 BEDS) | MEDICAL HUB LOCATION Less than one mile away from Franciscan Health Indianapolis, a major medical center with a large, recently renovated hospital and many specialty offices. Franciscan Health Indianapolis has 519 beds and employs over 2,800 people. The area benefits from strong daytime employment with over 17,466 employees (2-mile radius) and 61,789 employees (5-mile radius) respectively.

Investment Highlights

  • BRAND NEW 10-YEAR CORPORATE NNN LEASE
  • 10% RENT INCREASES IN YEAR 6 AND EACH 5-YEAR OPTION PERIOD
  • DRIVE-THRU LOCATION ALONG COMMERCIAL CORRIDOR
  • CORPORATELY GUARANTEED LEASE (NYSE: CMG)

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Restaurant

Chipotle Drive-Thru | NNN Lease

Listing Price: $2,873,563

Cap Rate
4.35%
Tenant Name
Chipotle
Years Remaining On Lease
9.6
Guarantor
Corporate Guarantee
Rentable SF
2,325
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$53.76

Investment Highlights

  • BRAND NEW 10-YEAR CORPORATE NNN LEASE
  • 10% RENT INCREASES IN YEAR 6 AND EACH 5-YEAR OPTION PERIOD
  • DRIVE-THRU LOCATION ALONG COMMERCIAL CORRIDOR
  • CORPORATELY GUARANTEED LEASE (NYSE: CMG)

Investment Overview

BRAND NEW 10-YEAR CORPORATE NNN LEASE The subject property operates under a new modified triple-net lease (NNN) with minimal landlord responsibilities. Please see the Tenant & Landlord Obligations page for further details. 10% RENT INCREASES IN YEAR 6 AND EACH 5-YEAR OPTION PERIOD This investment will offer a new owner significant upside due to the financial strength and the proven profitability of the tenant. DRIVE-THRU LOCATION ALONG COMMERCIAL CORRIDOR This property features a “Chipotlane,” one of Chipotle’s new drive-thru models that allow customers to pick up mobile orders via drive-thru lanes. The company reports that drive-thru locations were responsible for 46% of 2020 sales and delivery/pickup is up 174% year over year. CORPORATELY GUARANTEED LEASE (NYSE: CMG) The lease is guaranteed by Chipotle Mexican Grill, Inc. who reported revenues of $7.5 billion in 2021, an increase of 26.1% over the prior year. This growth was driven by new restaurant openings and a 19.3% increase in comparable restaurant sales. The company’s revenue is expected to surpass $8.6 billion by 2022 as they continue to drive growth with new store openings and innovative restaurant concepts. RAPIDLY INFILLING CORRIDOR WITH SIGNIFICANT NEW DEVELOPMENT The property has excellent access and visibility on Emerson Ave, where traffic counts exceed 18,748 vehicles per day. The location provides easy access to Interstate 65 (0.7 miles) and U.S. Hwy 31 (2.6 miles). It is surrounded by national retailers and traffic-driving tenants including Costco, Starbucks, Walmart, CVS, Sam’s Club, Kroger and many more. NEAR FRANCISCAN HEALTH HOSPITAL (519 BEDS) | MEDICAL HUB LOCATION Less than one mile away from Franciscan Health Indianapolis, a major medical center with a large, recently renovated hospital and many specialty offices. Franciscan Health Indianapolis has 519 beds and employs over 2,800 people. The area benefits from strong daytime employment with over 17,466 employees (2-mile radius) and 61,789 employees (5-mile radius) respectively.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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