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Restaurant

Chipotle

3700 Kirkwood Hwy, Wilmington, DE 19808

Listing Price: $3,438,947

Cap Rate
4.75%
Tenant Name
Chipotle
Years Remaining On Lease
9.9
Gross SF
2,200
Guarantor
Corporate Guarantee
Rentable SF
2,200
Price/Gross SF
$1,563.16
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$74.25

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Chipotle located 3700 Kirkwood Highway in Wilmington, D. The property was constructed in 2015 and consists of approximately 2,200 rentable square feet and sits on 0.51 acres of land.

Chipotle signed a 15-year absolute triple-net (NNN) lease with an expiration of August 31, 2031. The annual rent is scheduled to increase to $163,350 on September 1 and will continue to increase by ten percent every five years. The increases will continue throughout the three, five-year option periods. The seller will credit the buyer with the difference in current rent and the increased rent at closing.

Investment Highlights

  • 10.25 Years Remaining on the Absolute Triple-Net (NNN) Lease
  • Chipotle Corporate Guaranty | 2,768 Locations with $6 Billion of Revenue
  • Rare Fee Simple Chipotle - Landlord Owns Building & can Depreciate Property
  • Strong Rent Increases of 10% Every Five Years
  • The Tenant has Three, Five-Year Renewal Options

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Josh Kanter

    Licensed Real Estate Salesperson

    (212) 430-5189

    Email Josh

    License(s): NY: 10401265643

    Manhattan

Broker of Record

  • Ridge MacLaren

    Senior Vice President Investments

    (215) 531-7019

    License(s) DE: RB-0002461

    Delaware

Listing Price: $3,438,947

Cap Rate
4.75%
Tenant Name
Chipotle
Years Remaining On Lease
9.9
Gross SF
2,200
Guarantor
Corporate Guarantee
Rentable SF
2,200
Price/Gross SF
$1,563.16
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$74.25

Investment Highlights

  • 10.25 Years Remaining on the Absolute Triple-Net (NNN) Lease
  • Chipotle Corporate Guaranty | 2,768 Locations with $6 Billion of Revenue
  • Rare Fee Simple Chipotle - Landlord Owns Building & can Depreciate Property
  • Strong Rent Increases of 10% Every Five Years
  • The Tenant has Three, Five-Year Renewal Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Chipotle located 3700 Kirkwood Highway in Wilmington, D. The property was constructed in 2015 and consists of approximately 2,200 rentable square feet and sits on 0.51 acres of land.

Chipotle signed a 15-year absolute triple-net (NNN) lease with an expiration of August 31, 2031. The annual rent is scheduled to increase to $163,350 on September 1 and will continue to increase by ten percent every five years. The increases will continue throughout the three, five-year option periods. The seller will credit the buyer with the difference in current rent and the increased rent at closing.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Josh Kanter

    Licensed Real Estate Salesperson

    (212) 430-5189

    Email Josh

    License(s): NY: 10401265643

    Manhattan

Broker of Record

  • Ridge MacLaren

    Senior Vice President Investments

    (215) 531-7019

    License(s): DE: RB-0002461

    Delaware

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