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Restaurant

Chipotle

2730 Richlands Hwy, Jacksonville, NC 28540

Listing Price: $2,705,882

Cap Rate
4.25%
Tenant Name
Chipotle
Years Remaining On Lease
14.8
Gross SF
2,400
Guarantor
Corporate Guarantee
Rentable SF
2,400
Price/Gross SF
$1,127.45
Lease Type
Double Net
Rent Per Square Feet
$47.92

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a newly constructed 2,400-square-foot restaurant (the Property) in which Chipotle has just executed a new 15-year double net lease. The brand new 2022 construction features Chipotle’s latest “Chipotlane” prototype design and includes a 475-square-foot patio and single-lane drive-through wrapping the north end of the Property. The corporately guaranteed lease also features 10% rent increases throughout the firm term and in each of the four, five-year renewal options to offset inflation. The Property is located on an outparcel to a Tractor Supply Company and sits opposite numerous big-box retailers such as a Walmart Supercenter, Lowe’s, Aldi and PetSmart, as well as other notable retailers including Starbucks, Burger King, Walgreens, Verizon Wireless, Dollar Tree, O’Reilly Auto Parts and numerous others.

Investment Highlights

  • Brand New 2022 Construction — Chipotle's Latest "Chipotlane" Prototype Design
  • Corporately Guaranteed 15-Year Double Net Lease — Minimal Landlord Responsibilities
  • Significant Rent Increases in Firm Term and Four, Five-Year Renewal Options
  • Below-Market Rents for New Construction Chipotles — $47.92 Rent Per Square Foot
  • Prominent Jacksonville Retail Corridor — Walmart Supercenter, Lowe's, Aldi, Walgreens, Starbucks, PetSmart, O'Reilly Auto Parts and More

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Listing Price: $2,705,882

Cap Rate
4.25%
Tenant Name
Chipotle
Years Remaining On Lease
14.8
Gross SF
2,400
Guarantor
Corporate Guarantee
Rentable SF
2,400
Price/Gross SF
$1,127.45
Lease Type
Double Net
Rent Per Square Feet
$47.92

Investment Highlights

  • Brand New 2022 Construction — Chipotle's Latest "Chipotlane" Prototype Design
  • Corporately Guaranteed 15-Year Double Net Lease — Minimal Landlord Responsibilities
  • Significant Rent Increases in Firm Term and Four, Five-Year Renewal Options
  • Below-Market Rents for New Construction Chipotles — $47.92 Rent Per Square Foot
  • Prominent Jacksonville Retail Corridor — Walmart Supercenter, Lowe's, Aldi, Walgreens, Starbucks, PetSmart, O'Reilly Auto Parts and More

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a newly constructed 2,400-square-foot restaurant (the Property) in which Chipotle has just executed a new 15-year double net lease. The brand new 2022 construction features Chipotle’s latest “Chipotlane” prototype design and includes a 475-square-foot patio and single-lane drive-through wrapping the north end of the Property. The corporately guaranteed lease also features 10% rent increases throughout the firm term and in each of the four, five-year renewal options to offset inflation. The Property is located on an outparcel to a Tractor Supply Company and sits opposite numerous big-box retailers such as a Walmart Supercenter, Lowe’s, Aldi and PetSmart, as well as other notable retailers including Starbucks, Burger King, Walgreens, Verizon Wireless, Dollar Tree, O’Reilly Auto Parts and numerous others.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

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