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 a new Tractor Supply, which will occupy the ~109,000 SF building along the northern portion of the shopping center.


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
£2,015,000
Cap rate
5.5%
NOI
£111,000
WAULT
14.4 years
Year built
2024
Building area net
2,443 sf
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 New Construction Tractor Supply
  • $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

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Chipotle - Lebanon, OH (0 Properties)

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Last updated
26 Nov 2024