Chipotle Mexican Grill

Uniontown Ohio (Akron MSA)

Offering Summary

  • Status: closed
  • Price: $2,275,000
  • CAP Rate: 4.55%
  • GLA: 2,300 SF
  • Net Operating Income: $103,500
  • Year(s) Built: 2019
  • Lot Size (Acres): 1.0
  • Lease Type: Double Net
  • New Construction Chipotle w/ Drive-Thru 15-Year Lease in Uniontown, OH (Akron MSA)
  • Rare 15-Year Lease Term (13 Years Remaining) with 10% Rent Increases Every 5 Years
  • Double-Net Lease with Minimal Landlord Responsibilities – Roof/Structure Only
  • Corporate Guaranty from Chipotle Mexican Grill, Inc. (NYSE: CMG) – $52 Billion Market Cap & $6 Billion FY 2020 Revenue
  • True Credit Tenant – Zero Corporate Debt with “A” Implied Credit Rating (Not Rated by Major Agencies)
  • Massive Bounce Back Post-COVID – 2Q 2021 Quarterly Revenue and Same-Store Sales are up 39% and 31% YOY, Respectively
  • Top-Tier Fast Casual Brand: Positive Same-Store Sales and Overall Revenue Growth in FY2020 Despite COVID-Related Closures/Setbacks
  • Equipped with Mission-Critical “Chipotlane” Drive-Thru – Chipotle Reports that Drive-Thrus were Responsible for 46% of 2020 Sales and Delivery/Pickup is up 174% YOY
  • Located on a Highly-Visible Corner Lot Just off Massillon Road with Strong Traffic Counts of 25,200 Cars/Day
  • Highway Exit Real Estate: Only 0.2-Mile from I-77 Exit Ramps at Massillon Road – I-77 Sees 92,000 Cars/Day
  • Affluent Demographics: AHHI of $108K within a One-Mile Radius and $98K within a Three Mile Radius
  • Outparcel to Acme Fresh Market Grocery-Anchored Shopping Center with Starbucks, Jimmy John’s, Sport Clips, Nail Salon, T-Mobile, Antonio’s Pizza, and More
  • High Daytime Employment – Surrounded by Several Major Medical Facilities and Office/Industrial Parks; 2 Million SF Leased to 96% Occupancy
  • Located within a Rapidly Infilling Corridor with Significant New Development in the Past Several Years – New Grocery-Anchored Shopping Center, Aldi, Chase Bank, Taco Bell, Strip Centers, 3 Hospital/Med Office Facilities and Significant Recent Residential Development in the Vicinity with 5 New Multifamily & Seniors Housing Communities and Several New Single-Family Home Developments
  • Akron MSA is Home to a Population of Over 700,000; Part of the Larger Cleveland-Akron-Canton CSA with a Population of Over 3.5 Million
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director