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Restaurant

Chipotle Drive-Thru

305 W Eleven Mile Rd, Royal Oak, MI 48067

Listing Price: $3,275,300

Cap Rate
4.25%
Tenant Name
Chipotle
Years Remaining On Lease
11.3
Gross SF
2,400
Guarantor
Corporate Guarantee
Rentable SF
2,400
Price/Gross SF
$1,364.71
Lease Type
Double Net
Rent Per Square Feet
$58.00

Investment Overview

Chipotle Mexican Grill, Inc. (NYSE: CMG) is an American chain of fast casual restaurants in the United States, United Kingdom, Canada, Germany, and France, known for its large burritos, assembly-line production, and use of natural ingredients. Founded in 1993, Chipotle is one of the first chains of fast casual dining establishments, offering more than 65,000 combinations of burritos, soft tacos, crispy tacos, chips and salsa, beer, and margaritas. The company has also released a mission statement called Food with Integrity, which highlights its efforts in using organic ingredients and serving more naturally raised meat than any other restaurant chain. The company’s revenue in Quarter Three of 2020 was $1.6 billion, an increase of 14.1 percent compared to the third quarter of 2019. The city of Royal Oak, located in Michigan’s Oakland County, is a suburb of Detroit and a bustling community with the motto “Life Now Playing.” According to the 2010 census, the city had a population of 57,236. It is the 8th-largest municipality in Oakland County and the 27th-largest municipality in Michigan by population. Just three miles north of Detroit, Royal Oak is home to approximately 50 city parks comprising 310 acres; a tasteful and eclectic collection of eateries; movies and live theater; the 125-acre Detroit Zoo; and the cutting edge, award-winning William Beaumont Hospital.

Investment Highlights

  • Operating on New Rare 12-Year Double-Net (NN) Lease with Corporate Guarantee
  • Rent Increases Every Five Years Including Four Renewal Option Periods
  • Brand New 2021 Prototype Design Equipped with Drive-Thru Window - "Chipotlane" Restaurant Concepts Generate 10 Percent More in Sales
  • High Income and Populous Area with Average Annual Household Income Over $123,000 Within One Mile of Subject Property and 368,054 Residents Within a Five-Mile Radius
  • Centrally Located in Heart of Downtown Royal Oak - Just One Mile from The Detroit Zoo, Michigan's Largest Tourist Destination
  • High Visibility on Signalized Hard Corner of 11 Mile and Washington Avenue (Over 22,000 Cars per Day)
  • Surrounded by National Retailers - Meijer, Starbucks, Walgreens, Panda Express, Panera, T-Mobile, LA Fitness, McDonald's, Jimmy John's, TacoBell, Burger King, Verizon, CVS, Chase Bank and More
  • Immediate Connections to Walter P. Reuther Fwy 696 (130,693 Cars per Day) and M-1 Hwy / Woodward Avenue (42,561 Cars per Day)

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Restaurant

Chipotle Drive-Thru

Listing Price: $3,275,300

Cap Rate
4.25%
Tenant Name
Chipotle
Years Remaining On Lease
11.3
Gross SF
2,400
Guarantor
Corporate Guarantee
Rentable SF
2,400
Price/Gross SF
$1,364.71
Lease Type
Double Net
Rent Per Square Feet
$58.00

Investment Highlights

  • Operating on New Rare 12-Year Double-Net (NN) Lease with Corporate Guarantee
  • Rent Increases Every Five Years Including Four Renewal Option Periods
  • Brand New 2021 Prototype Design Equipped with Drive-Thru Window - "Chipotlane" Restaurant Concepts Generate 10 Percent More in Sales
  • High Income and Populous Area with Average Annual Household Income Over $123,000 Within One Mile of Subject Property and 368,054 Residents Within a Five-Mile Radius
  • Centrally Located in Heart of Downtown Royal Oak - Just One Mile from The Detroit Zoo, Michigan's Largest Tourist Destination
  • High Visibility on Signalized Hard Corner of 11 Mile and Washington Avenue (Over 22,000 Cars per Day)
  • Surrounded by National Retailers - Meijer, Starbucks, Walgreens, Panda Express, Panera, T-Mobile, LA Fitness, McDonald's, Jimmy John's, TacoBell, Burger King, Verizon, CVS, Chase Bank and More
  • Immediate Connections to Walter P. Reuther Fwy 696 (130,693 Cars per Day) and M-1 Hwy / Woodward Avenue (42,561 Cars per Day)

Investment Overview

Chipotle Mexican Grill, Inc. (NYSE: CMG) is an American chain of fast casual restaurants in the United States, United Kingdom, Canada, Germany, and France, known for its large burritos, assembly-line production, and use of natural ingredients. Founded in 1993, Chipotle is one of the first chains of fast casual dining establishments, offering more than 65,000 combinations of burritos, soft tacos, crispy tacos, chips and salsa, beer, and margaritas. The company has also released a mission statement called Food with Integrity, which highlights its efforts in using organic ingredients and serving more naturally raised meat than any other restaurant chain. The company’s revenue in Quarter Three of 2020 was $1.6 billion, an increase of 14.1 percent compared to the third quarter of 2019. The city of Royal Oak, located in Michigan’s Oakland County, is a suburb of Detroit and a bustling community with the motto “Life Now Playing.” According to the 2010 census, the city had a population of 57,236. It is the 8th-largest municipality in Oakland County and the 27th-largest municipality in Michigan by population. Just three miles north of Detroit, Royal Oak is home to approximately 50 city parks comprising 310 acres; a tasteful and eclectic collection of eateries; movies and live theater; the 125-acre Detroit Zoo; and the cutting edge, award-winning William Beaumont Hospital.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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