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Restaurant

Chipotle

3671 Market Lane, Somers, WI 53144

Listing Price: $2,610,000

Cap Rate
4.75%
Tenant Name
Chipotle
Years Remaining On Lease
14.9
Gross SF
2,361
Guarantor
Corporate Guarantee
Rentable SF
2,361
Price/Gross SF
$1,105.46
Lease Type
Double Net
Rent Per Square Feet
$52.50

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a newly constructed 2,361-square-foot restaurant (the Property) in which Chipotle has just executed a new 15-year double net lease. The brand new 2023 construction features Chipotle’s latest “Chipotlane” prototype design and includes a 400-square-foot patio and single-lane drive-through wrapping the northeast side of the Property. The corporately guaranteed lease also features 10% rent increases throughout the firm term and in each of the three, five-year renewal options to offset inflation. The Property is located on an outparcel to the only Walmart in Kenosha County at the hard corner of Green Bay Road and 38th Street with visibility to 38,700 vehicles per day. Other nearby retailers include Sam’s Club, Starbucks, Popeyes, Taco Bell, Jersey Mike’s, Aldi, Burger King, Subway, CVS, McDonald’s, and numerous others.

Investment Highlights

  • Brand New 2023 Construction — Chipotle's Latest "Chipotlane" Prototype Design
  • Corporately Guaranteed 15-Year Double Net Lease — Minimal Landlord Responsibilities
  • Located on an Outparcel to the Only Walmart in Kenosha County With Maximum Visibility to Over 38,700 Vehicles per Day
  • 10 Percent Rent Increases in Firm Term and Three, Five-Year Renewal Options
  • Prominent Somers Retail Corridor — Walmart Supercenter, Sam's Club, Aldi, CVS, Starbucks, UScellular and More

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Listing Price: $2,610,000

Cap Rate
4.75%
Tenant Name
Chipotle
Years Remaining On Lease
14.9
Gross SF
2,361
Guarantor
Corporate Guarantee
Rentable SF
2,361
Price/Gross SF
$1,105.46
Lease Type
Double Net
Rent Per Square Feet
$52.50

Investment Highlights

  • Brand New 2023 Construction — Chipotle's Latest "Chipotlane" Prototype Design
  • Corporately Guaranteed 15-Year Double Net Lease — Minimal Landlord Responsibilities
  • Located on an Outparcel to the Only Walmart in Kenosha County With Maximum Visibility to Over 38,700 Vehicles per Day
  • 10 Percent Rent Increases in Firm Term and Three, Five-Year Renewal Options
  • Prominent Somers Retail Corridor — Walmart Supercenter, Sam's Club, Aldi, CVS, Starbucks, UScellular and More

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a newly constructed 2,361-square-foot restaurant (the Property) in which Chipotle has just executed a new 15-year double net lease. The brand new 2023 construction features Chipotle’s latest “Chipotlane” prototype design and includes a 400-square-foot patio and single-lane drive-through wrapping the northeast side of the Property. The corporately guaranteed lease also features 10% rent increases throughout the firm term and in each of the three, five-year renewal options to offset inflation. The Property is located on an outparcel to the only Walmart in Kenosha County at the hard corner of Green Bay Road and 38th Street with visibility to 38,700 vehicles per day. Other nearby retailers include Sam’s Club, Starbucks, Popeyes, Taco Bell, Jersey Mike’s, Aldi, Burger King, Subway, CVS, McDonald’s, and numerous others.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

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