Skip to main content

Restaurant

Chipotle | 2023 Build | 15 Yr NNN | Corp Guarantee

139 Blowing Rock Blvd, Lenoir, NC 28645

Listing Price: $2,824,000

Cap Rate
4.25%
Tenant Name
Chipotle
Years Remaining On Lease
14.9
Gross SF
2,400
Guarantor
Corporate Guarantee
Rentable SF
2,400
Price/Gross SF
$1,176.67
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.00

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS Brand new 2023 build-to-suit construction Latest store prototype with drive-thru Adjacent to newly developed Aspen Dental Strong traffic counts of ±29,500 VPD along Blowing Rock Blvd. Flat topography with strong visibility along Blowing Rock Blvd. Multiple points of ingress/egress PASSIVE LEASE STRUCTURE Corporately guaranteed lease Modified NNN lease structure Initial term of 15 years 4, 5-year renewal options 10% rent escalations every 5 years BEST-IN-CLASS TENANT Publicly traded on the NYSE Ticker ‘CMG’ Market cap of $38.56 B Total revenue of $8.4 B (TTM) 73% increase over 2018 Net worth of $2.297 B CALDWELL COUNTY ECONOMIC STRENGTH Caldwell County Top Employers Merchants Distributors, Inc – wholesale grocery distribution Bernhardt Furniture Company – manufacturing, furniture UNC Health – health care Year-over-year GDP growth since 2010 (+30%) Current projected announced/under construction MID – 135+ new jobs, 500,000 SF, $155 MM investment Exela Pharama Sciences – 100+ new jobs, 210,000 SF, $50 MM investment Grand Manor Furniture – 75+ new jobs, 200,000 SF, $12 MM investment

Investment Highlights

  • 2023 CONSTRUCTION
  • LATEST CHIPOTLANE PROTOTYPE
  • FRESH 15-YEAR LEASE

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Restaurant

Chipotle | 2023 Build | 15 Yr NNN | Corp Guarantee

Listing Price: $2,824,000

Cap Rate
4.25%
Tenant Name
Chipotle
Years Remaining On Lease
14.9
Gross SF
2,400
Guarantor
Corporate Guarantee
Rentable SF
2,400
Price/Gross SF
$1,176.67
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.00

Investment Highlights

  • 2023 CONSTRUCTION
  • LATEST CHIPOTLANE PROTOTYPE
  • FRESH 15-YEAR LEASE

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS Brand new 2023 build-to-suit construction Latest store prototype with drive-thru Adjacent to newly developed Aspen Dental Strong traffic counts of ±29,500 VPD along Blowing Rock Blvd. Flat topography with strong visibility along Blowing Rock Blvd. Multiple points of ingress/egress PASSIVE LEASE STRUCTURE Corporately guaranteed lease Modified NNN lease structure Initial term of 15 years 4, 5-year renewal options 10% rent escalations every 5 years BEST-IN-CLASS TENANT Publicly traded on the NYSE Ticker ‘CMG’ Market cap of $38.56 B Total revenue of $8.4 B (TTM) 73% increase over 2018 Net worth of $2.297 B CALDWELL COUNTY ECONOMIC STRENGTH Caldwell County Top Employers Merchants Distributors, Inc – wholesale grocery distribution Bernhardt Furniture Company – manufacturing, furniture UNC Health – health care Year-over-year GDP growth since 2010 (+30%) Current projected announced/under construction MID – 135+ new jobs, 500,000 SF, $155 MM investment Exela Pharama Sciences – 100+ new jobs, 210,000 SF, $50 MM investment Grand Manor Furniture – 75+ new jobs, 200,000 SF, $12 MM investment

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

MM Texture Background
MM Textured Background Lower