Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Chipotle at 3419 Bienville Blvd in Ocean Springs, Mississippi (“Property” or “Asset”). The Property is operating on a NN lease with ±14.9 years of primary lease term remaining, 10% rent escalations every 5 years and four, five-year options.

MS Broker of Record: Barry Brown - MS License #: 17703

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Attributes

Asking price

CA$4,790,000

Cap rate

5.4%

NOI

CA$259,000

WAULT

14.9 years

Building area net

228 sm

Land area gross

0.36 ha

Year built

2026

Media

Investment highlights

Corporate Chipotle with ±14.9 years of primary lease term remaining
Adjacent to new construction Ocean Springs Hospital – Singing River Health System
Frontage along US-90, the primary commercial corridor, with 39,000 VPD
Ocean Springs is one of the Gulf Coast’s highest income submarkets, with $122K in average household income within a 1-mile radius of the Property
Strong demographics with 18% population growth since 2010 within 5-mile radius
Chipotle is one of the largest and most recognized fast casual restaurant chains in the world