Investment Overview

Marcus & Millichap is pleased to exclusively present this recently opened new Chipotle Mexican Grill restaurant, a 2,314 square foot free standing retail property in Cartersville Georgia on the northwestern edge of the Atlanta metropolitan area. The subject property is a new build-to-suit construction completed in September 2021 and features Chipotle’s latest protype design including a patio area for outdoor dining and a “Chipotlane” drive-thru for pickup of mobile orders. This single tenant fee simple offering is under a corporately guaranteed 10 Year Triple Net (NNN) lease with four ?ve year renewal options and 10% rent increases every ?ve years. Chipotle (NYSE: CMG), ranked on the Fortune 500, grew revenue over 14% in 2022, opened its 3,200th store early this year, and continues its high growth with 255-285 new stores anticipated in 2023. Situated prominently on a 0.70 acres parcel at the crossroads of East Main Street (GA-113) and US-41, this Chipotle restaurant has visibility to 18,800 and 21,700 vehicles per day respectively. The area re?ects excellent demographics with a 5-Mile population over 47,000 and average annual household incomes of $73,000. Commercial property fundamentals are strong with CoStar reporting a submarket vacancy of only 1.9% for retail properties. The city of Cartersville, located in the foothills of the pristine Blue Ridge mountain range, is the seat of Bartow County just off Interstate 75 approximately 40 miles from downtown Atlanta and 75 miles southeast of Chattanooga Tennessee. Cartersville is perfectly poised for cultural enthusiasts and outdoor lovers alike with unique museums and plentiful recreation areas. Cartersville was recently named one of The 15 Best Small Towns to Visit in 2022 by Smithsonian Magazine.