x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Contact Us

x

Phone: 916-403-1812

Email: McKenney.Houck@cushwake.com

Or contact us using the form below.


Chipotle, Foley, AL

Investment Summary

Price $3,233,311
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, , And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 2,325 SF
Lot Size ±0.96 Acres (41,852 SF)
Status Sold
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GUARANTEED LEASE WITH SCHEDULED RENTAL INCREASES
» New 15-year absolute NNN lease with scheduled rental increases, providing a hedge against inflation
» Strong corporate guarantee from an investment-grade national tenant (NYSE: “CMG”)
» No landlord management, ideal for passive investors
» Chipotle is ranked 4th on the Fortune 500 “World’s Most Admired Companies” list
» High-quality 2022 construction featuring the latest Chipotle prototype with a dedicated drive-thru lane

HIGH-VISIBLITY LOCATION POISED FOR GROWTH
» Prominent location along South McKenzie Street with excellent visibility and access to 41,910 vehicles per day
» Surrounded by many single and multi-family developments including DLP Foley Apartments (144 units), Alison Pointe (256 units), and Sevilla Place Apartments (120 units), providing a regular customer base for the site
» Average five-mile annual household income of $71,769 and expected to grow over 13% by 2027
» 40,714 residents within a five-mile radius (44% growth since 2010)
» Central location 32 miles from Pensacola, Florida (53,678 population) and 40 miles from Mobile, Alabama (186,833 population)
» Conveniently located five miles from Foley Municipal Airport and 6.4 miles from Gulf Shores International Airport at Jack Edwards Field

DENSE RETAIL CORRIDOR NEAR LARGE SCHOOLS, HOSPITALS, AND AREA ATTRACTIONS
» Within a dense retail corridor near Tanger Outlets Foley (over 120 stores and 600,000 SF retail) and surrounded by major national tenants such as Walmart Supercenter, Publix, ALDI, The Home Depot, Lowe’s Home Improvement, and numerous others, promoting crossover traffic
» Walking distance from Foley Highschool (1,650 students) and Florence Mathis Elementary School (804 students)
» Minutes from South Baldwin Regional Medical Center (112 beds, 706 employees), the third largest employer in Foley
» 2.5 miles from OWA Parks & Resort, a 520-acre family fun destination
» 2.8 miles from Fortis College (434 students) and less than six miles from Columbia Southern University (18,533 students) and Coastal Alabama Community College: Gulf Shores Campus (7,065 students), increasing traffic in the area

Property Description

SOLD

» Chipotle is located prominently along South McKenzie Street with excellent visibility and access to 41,910 vehicles per day. The property is surrounded by many single and multi-family developments including DLP Foley Apartments (144 units), Alison Pointe (256 units), and Sevilla Place Apartments (120 units), providing a regular customer base for the site.
» The site is supported by 40,714 residents within a five-mile radius, a 44 percent growth since 2010. The average annual household income within five miles is $71,769 and is expected to increase over 13 percent by 2027, poising Chipotle and Foley for concurrent growth.
» The site is centrally located 32 miles from Pensacola, Florida (53,678 population) and 40 miles from Mobile, Alabama (186,833 population). Additionally, the location is situated five miles from Foley Municipal Airport and 6.4 miles from Gulf Shores International Airport at Jack Edwards Field.
» The property is in a dense retail corridor near Tanger Outlets Foley (over 120 stores and 600,000 SF retail) and is immediately surrounded by major national tenants such as Walmart Supercenter, Publix, ALDI, The Home Depot, Lowe’s Home Improvement, and numerous others, promoting crossover traffic to the location.
» The property is within walking distance from Foley Highschool (1,650 students) and Florence Mathis Elementary School (804 students) and minutes from South Baldwin Regional Medical Center (112 beds, 706 employees), the third-largest employer in Foley.
» The site is 2.8 miles from Fortis College (434 students) and less than six miles from Columbia Southern University (18,533 students) and Coastal Alabama Community College: Gulf Shores Campus (7,065 students). OWA Parks & Resort (520-acre family fun destination), a popular area attraction is just 2.5 miles from the property, increasing traffic in the surrounding area.

Download OM Form

x
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link