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, Houston, TX

Investment Summary

Price $5,173,000
Cap Rate 4.35%
NOI $225,000
Lease Term 20 years
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, maintenance, and repair, including roof, structure, and parking lot
Rental Increases 8% rental increases every five (5) years
Year Built 2024
Building Size 2,325 SF
Lot Size 0.669 acres (29,185 SF)
Status Available
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
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW RARE 20-YEAR ABSOLUTE NNN LEASE TO CHIPOTLE WITH DRIVE-THRU
» New 20-year absolute NNN lease with 8% rental increases in initial term and option periods
» Strong corporate guarantee from an investment-grade national tenant (NYSE: “CMG”)
» No landlord management, an ideal opportunity for passive investors
» Chipotle is the only restaurant company of its size that owns and operates all its restaurants
» Chipotle is ranked on the Fortune 500 and is recognized on the 2023 list for Fortune’s Most Admired Companies

HIGH-VISIBILITY LOCATION WITHIN THE NEWLY DEVELOPED MEYERLAND CROSSING SHOPPING CENTER WITH INTERSTATE VISIBILITY
» Part of the newly constructed Meyerland Crossing Shopping Center, a five-acre retail development along Interstate 610 in the epicenter of Meyerland, TX
» The site boasts premier visibility and immediate access from Interstate 610, a major interstate surrounding Houston, TX with access to 213,620 vehicles per day directly in front of the site
» Surrounded by major national retail tenants including Target, Walmart, H-E-B, Lowe’s, Kroger, Marshalls, Whole Foods, Starbucks, Chick-fil-A, Burlington and many others
» Deep infill location surrounded by affluent single-family household developments, establishing a strong customer base for the site
» Located in the heart of one of the strongest retail trade areas in the Houston MSA

EXCELLENT LOCATION IN A HIGH GROWTH AND AFFLUENT MARKET
» The site is supported by a population of 497,828 residents living within five miles of the property.
» Extremely high average household income of $210,872 within one mile of the site (projected to increase 6% by 2028)
» Projected income increases within 1-, 3-, and 5-mile radii over the next three years poise Chipotle and Houston for steady concurrent growth
» Less than 10 miles from Downtown Houston, the fourth-most populous city in the U.S. with a metro area population of 6,707,000
» Within five miles of well-attended educational institutions, including Bellaire High School (3,118 students), RICE University (8,565 students), and Houston Christian University (4,120 students)

NEW 2024 HIGH-QUALITY CONSTRUCTION
» New high-quality 2024 construction built to Chipotle’s latest prototype
» Site features a “Chipotlane” drive-thru for added customer convenience

Property Description

» High-Visibility Location: This Chipotle is prominently positioned just off Interstate 610, which sees more than 213,000 vehicles travel along them each day
» Prime Setting: The location features a prime setting in the newly constructed Meyerland Crossing Shopping Center, a five-acre retail development along Interstate 610 in the epicenter of Meyerland, TX
» Reliable Customer Base: The site greatly benefits from its close proximity to apartment communities including The Halstead (301 units), The High Bank (284 units), and The Meritage (240 units)
» Beneficial Proximity to Schools: Bellaire High School, Rice University, Houston Christian University, and Baylor College of Medicine are located within five miles from the restaurant, providing consistent traffic from the combined 16,500+ students that attend these schools
» Beneficial Proximity to Hospitals: Memorial Hermann Southwest Hospital, Texas Medical Center, and the Michael E. DeBakey VA Medical Center are located within five miles from the restaurant, serving as another source of consistent traffic
» Excellent Demographics: Nearly 500,000 residents live within a five-mile radius of the subject property, while the average annual household income within a one-mile radius is over $210,000
» High Growth Market: This Chipotle is located in the heart of one of the strongest retail trade areas in the Houston MSA and is less than 10 miles from Downtown Houston

Download OM Form

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