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, Lubbock, TX

Chipotle, Lubbock, TX


Investment Summary

Price $3,311,000
Cap Rate 4.50%
NOI $149,000
Lease Term 20 years
Lease Type Absolute NNN lease with tenant responsible for all taxes, insurance, and maintenance
Rental Increases 10% rental increases every five (5) years
Year Built 2023
Building Size 2,325 SF
Lot Size 0.98 acres (42,689 SF)
Status Under Contract
Lead Brokers Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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

Investment Highlights

RARE 20-YEAR ABSOLUTE NNN LEASE TO CHIPOTLE
» New 20-year absolute NNN lease with 10% rental increases every five years in initial term and option periods
» Strong corporate guarantee from an investment-grade national tenant (NYSE: “CMG”)
» No landlord management, ideal 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

PROMINENT LOCATION ON DENSE RETAIL CORRIDOR
» Strategically located on Quaker Ave with access to 10,946 vehicles per day directly in front of the site
» Centrally located in dense retail corridor with major national retailers such as Walmart, Chick-fil-a, H-E-B, Whataburger, Panda Express, Five Guys, McDonald’s, Panera Bread, Sprouts Farmers Market, Starbucks and many others
» Surrounded by new retail development projects showing the growth and interest in the area
» Located less than half a mile south of both the Walmart and H-E-B anchored shopping centers, positioning Chipotle to capture significant crossover buyer traffic

AFFLUENT LOCATION IN A RAPIDLY GROWING AREA OF SOUTH LUBBOCK
» Centrally located in a densely populated and affluent area with 138,806 residents and an average household income over $190,000 within one mile of the property providing Chipotle with a strong and immediate customer base
» Excellent location in a major Lubbock retail corridor, surrounded by high-density single-family communities
» Nine miles from Texas Tech University (42,000+ students and faculty, $2.8B annual economic impact in Texas)
» Average annual household income projected to increase 13% by 2028 within a five-mile radius of the site, poising Chipotle and Lubbock for significant growth
» Population within a five-mile radius of the site has grown 27% between 2010 and 2023, with a further 3% increase expected by 2028

BRAND NEW 2023 CONSTRUCTION TO CHIPOTLE’S LATEST PROTOTYPE
» New high-quality 2023 construction featuring a dedicated Chipotlane drive-thru
» Texas has no State Income Tax, Estate Tax, or Inheritance Tax

Property Description

» This Chipotle features a rare 20-year absolute NNN lease with 10% rental increases every five years in initial term and option periods
» The site is strategically located on Quaker Avenue with access to 10,946 vehicles per day directly in front of the site
» The property is centrally located in dense retail corridor with major national retailers such as Walmart, Chick-fil-a, H-E-B, Whataburger, Panda Express, Five Guys, McDonald’s, Panera Bread, Sprouts Farmers Market, Starbucks, and many others
» The site is just nine miles from Texas Tech University (42,000+ students and faculty, $2.8 billion annual economic impact in Texas)
» The property is located in a densely populated and affluent area with 138,806 residents and an average household income over $190,000 within one mile of the property providing Chipotle with a strong and immediate customer base
» The site is less than half a mile south of both the Walmart and H-E-B anchored shopping centers, positioning Chipotle to capture significant crossover buyer traffic

Download OM Form

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