STREAM Capital Partners > Properties > All Properties > Chipotle

Chipotle

Net Lease

314 E Fairmount Ave, Lakewood, New York
Ownership Type:
Fee Simple
Price:
$2,504,000
Cap Rate:
5.65%
Current Rent:
$141,500
Tenancy:
Single Tenant
Lease Type:
DoubleNet
Renewal Options:
4, 5-year options
Building Sq. Ft.:
2,325 SF
Rent Increases:
10% Every 5 Years
Site Size:
0.62 Acres

Investment Highlights

  • Long Term Corporate Lease: Chipotle (NYSE: CMG) signed a 15 year lease with scheduled rent increases of 10% every 5 years. Chipotle is the premier fast casual operator nationwide with more than 3,900 restaurants and plans to open around 350 per year going forward.
  • New Construction: High quality construction featuring Chipotle’s current prototype which includes a “Chipotlane” drive-thru, engineered to maximize the amount of customers served and drive higher unit volumes.
  • High Visibility Outparcel: Fairmont Ave. (17,000 VPD) is the primary retail corridor in the trade area, providing excellent visibility for the site. Chatauqua Mall, a 435,000 SF indoor mall, anchors the site with Walmart Supercenter acting as the shadow anchor next door. Additional national retailers in the immediate area include Target, Wegmans, and The Home Depot.
  • Vibrant Tourism Destination: Lakewood and the surrounding areas are a popular tourist destination in the summer featured around Chautauqua Lake. The area hosts between 100,000 – 140,000 visitors each year and Chipotle is strategically located in the center of the main retail corridor for the trade area.
  • Southwestern Central School District: The local school district’s consolidated campus is a 5 minute drive from Chipotle and has over 1,350 students with 240 faculty members, providing a built in customer base along with the local residents.
Ownership Type:
Fee Simple
Price:
$2,504,000
Cap Rate:
5.65%
Current Rent:
$141,500
Lease Type:
DoubleNet
Renewal Options:
4, 5-year options
Building Sq. Ft.:
2,325 SF
Rent Increases:
10% Every 5 Years
Site Size:
0.62 Acres

Listing Agents

Graham Gold

Senior Vice President
314 324 8792[email protected]

Phil DiGennaro

Managing Director
203.610.1541[email protected]

Jordan Shtulman

Managing Principal
847.226.4133[email protected]

Analyst

Hunter Shell

Analyst
832 671 6104[email protected]

Broker of Record: Michael Antonoplos, Lic. 10491211973

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