Lucky's Market - Tallahassee, FL
US - Tallahassee, FL
$11,750,000 | 54,674 sf
Asset description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale a brand-new construction, single tenant Chipotle (the “Property” or “Asset”) offering in Lafayette, IN. The Asset neighbors Purdue University, a Big Ten School with an enrollment of 51,000+ and Lafayette’s largest single-site employer. More than 102,000 people live within 5-miles of the Asset, making it a dense residential corridor in the Lafayette-West Lafayette MSA.
Chipotle will operate on a 10-year lease with contractual increases of 10% every 5 years and multiple renewal options. The net lease features a corporate guaranty from Chipotle Mexican Grill, Inc. minimizing any short-term investment risk.
The Property offers a rare opportunity to acquire an industry leading tenant on a long-term, net lease with minimal landlord responsibilities. The tenant opened for business in August 2023.
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Attributes
Asking Price
$2,270,000
Building area Net
2,325 sf
Occupancy
100.00%
Year built
2023
Cap Rate
5.51%
NOI
$125,000
Media
Investment highlights
- Corporately guaranteed lease by one of the largest fast-casual restaurant chains in the world with over 3,250+ locations
- Brand new 2,325 square foot build-to-suit with drive thru window opened for business in August 2023
- Strategically positioned 5 miles southeast of Purdue University, a Big Ten School with an enrollment of 51,000+ and the largest employer in the area
- Premier retail corridor with a Walmart Supercenter, Verizon Wireless, KFC, Burger King, and McDonald’s
- Metro area has the #8 highest income growth in the U.S. between professionals ages 25-44 and 45-64 at 25.9%
- 102,000+ residents live within 5-miles of the Asset
Contact brokers
Chipotle - Lafayette, IN (0 Properties)
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Last updated
Aug 29, 2023
