Chipotle - Lebanon, OH _Property for Sale
Chipotle - Lebanon, OH _Property for Sale
1235 Columbus Ave, Lebanon, OH, 45036, US

Chipotle - Lebanon, OH

Asset description

Jones Lang Lasalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee-simple interest in a single-tenant Chipotle Mexican Grill (the “Property” or “Asset”) located in Lebanon, OH (Cincinnati MSA). Chipotle Mexican Grill is one of the largest and most recognized fast casual restaurant chains in the world with over 3,400 locations globally, and the Asset is shadow-anchored by Kroger, which sees 1.5 million annual visitors and ranks in the top 4% of Kroger locations in the nation.


The Property was purpose-built for Chipotle in 2023 and currently has ±14.4 years of lease term remaining , 10% rental increases every 5-years and four, five-year renewal options.


The Property sits within an active commercial corridor featuring frontage along Columbus Avenue (11,390 VPD), with robust demand from a middle-upper class consumer base featuring an average household income of $120K in the 5-miles surrounding the Asset. Directly across the street from the Property, the Lebanon North Center is in the top 30% of most visited strip-centers in Ohio, and in the top third in the nation (Placer.ai).


The Offering provides investors with the opportunity to acquire a new-construction, purpose-built Chipotle with long-term, corporately-guaranteed, passive income in a strong submarket of Cincinnati.

...

Attributes

Asking price
CA$3,491,000
Cap rate
5.5%
NOI
CA$192,000
WAULT
14.4 years
Year built
2024
Building area net
227 sm
Occupancy
100%

Media

Investment highlights

  • 14.4 Years of Lease Term remaining on a NN Corporate Guaranteed Lease with Minimal Landlord Responsibilities
  • $2.5B Chipotle Q3 2023 Revenue (11.3% YOY Increase)
  • 8.2% 10-Yr Population Growth within a 5-mi Radius of the Property
  • Shadow Anchored by 1.5M Annual-Visit Kroger (Top 4% in The Nation, Placer.AI)
  • $119K AHHI in a 5-mi Radius
  • Situated Along Columbus Ave (11,390 VPD) Which runs directly into US-42 (21,950 VPD)
Chipotle - Lebanon, OH  4_Property for Sale

Contact brokers

Chipotle - Lebanon, OH (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? Visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. E-Mail us today to see how we can help achieve your ambitions.
Last updated
Jun 28, 2024