Chipotle,
Dothan , AL Investment Summary
| Price | $2,315,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 10 Years |
| Lease Type | Absolute NNN, 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 | 2021 |
| Building Size | 2,325 SF |
| Lot Size | 0.51 Acre (22,027 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW 10-YEAR ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» Long-Term corporate guaranty by Chipotle Mexican Grill, Inc. (NYSE: “CMG”)
» Absolute NNN lease requires no landlord management, ideal for passive investors
» Scheduled rental increases, providing a hedge against inflation
» Features a “Chipotlane” drive-thru for added customer convenience
HIGH-TRAFFIC LOCATION IN DENSE, AFFLUENT, AND GROWING RETAIL CORRIDOR
» Conveniently located on Ross Clark Circle, Dothan’s beltway, with excellent visibility and access to 32,695 vehicles per day directly in front of the property
» Beneficial proximity to U.S. Route 231/Montgomery Highway (37,667 AADT), increasing traffic to the location
» Population of 64,733 within five miles of the site
» Average annual household income of $92,806 within a five-mile radius
» Projected average annual household income increase of 10 percent within one mile of the site in the next five years
» Outparcel to a Publix/Home Depot-Anchored shopping center, attracting significant crossover shopping to the location
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Target, Academy Sports + Outdoors, Lowe’s, McDonald’s, Starbucks, and many more
» Approximately 2.5 miles from Downtown Dothan
NEW 2021 CONSTRUCTION
» 2021 construction featuring a dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Features latest store designs and concepts
» New building, limiting near-term deferred maintenance or capital costs
Property Description
SOLD
The property is conveniently located on Ross Clark Circle, Dothan’s beltway, with excellent visibility and access to 32,695 vehicles per day directly in front of the property. Ross Clark Circle maintains a beneficial proximity to U.S. Route 231/Montgomery Highway, attracting significant additional traffic to the location. The property is located in a densely populated area, with 64,733 residents living within five miles of the site. The property is located in a highly affluent area as well, with an average annual household income of $92,806 within a five-mile radius.
The property is outparcel to a Publix/Home Depot-Anchored shopping center, attracting significant crossover shopping to the location. Other major retailers in the nearby area include Walmart Supercenter, Target, Academy Sports + Outdoors, Lowe’s, McDonald’s, Starbucks, and many more. The property is centrally located approximately two and a half miles from Downtown Dothan, with a projected average annual household income increase of 10 percent within one mile of the site in the next five years.
