New Construction Chipotle Drive-Thru 2500 S State Route 291 2,325 SF Retail Building Independence, MO 64057 $4,401,692 CAD ($1,893.20 CAD/SF) 5.50% Cap Rate

Pegasus Investments Real Estate Advisory, as exclusive representatives for the Seller, is pleased to offer a newly constructed Chipotle located in Kansas City (Independence), Missouri (the “Property”). The Property offers a 15-year corporate net lease with Chipotle, providing investors with the long-term stability of a dominant player in the QSR industry. Built in 2025, the 2,325 SF building sits on an oversized 1.59-acre parcel and features a drive-thru-equipped Chipotlane with a 25.4:1000 SF parking ratio, ensuring seamless access for nearly 1 million annual visitors to the Hub Shopping Center, where it serves as an outparcel. The lease includes 10% rent increases every 5 years, along with four 5-year renewal options, making it a strong investment in the QSR and American fast-food sector.
Strategically positioned in a major retail corridor, the Property benefits from high foot traffic and strong tenancy in the immediate surrounding area. The Property is situated as an outparcel to the Hub Shopping Center, home to national retailers such as QuikTrip, Dunkin’ Donuts, Firestone, Advance Auto Parts, Burger King, Dollar Tree, CosmoProf, Oak Street Health (CVS), and Scooter’s Coffee. Additionally, the center is anchored by a top 25% Price Chopper, part of Associated Wholesale Grocers (AWG), which operates over 3,000 locations in 28 states. The surrounding corridor features top-performing retailers, including a Planet Fitness (top 30% nationwide, per Placer.ai) and a Tractor Supply Co. (top 7% nationwide and the #1 store in the state, per Placer.ai), further reinforcing the strength of the location.
Chipotle selected this site as its second location in Independence. The other Chipotle in Independence is the top performer in the metro so the tenant is very bullish about the Subject Property’s performance. Positioned along Route 291 (47,000 VPD) and just north of 23rd Street (27,665 VPD), the Property benefits from a combined 75,000 vehicles daily and a dense 5-mile radius population of nearly 150,000 residents. Independence is the largest suburb in Kansas City, Missouri. The area is further bolstered by the $1 billion Eastgate Commerce Center development, a 10 million SF project expected to bring 5,000 new jobs and generate $151 million in tax revenue over the next 33 years, reinforcing the market’s economic strength and long-term investment potential.
The Kansas City metropolitan area, encompassing parts of Missouri and Kansas, has experienced significant economic growth and diversification in recent years. The federal government stands as the region’s largest employer, hosting over 146 agencies, including a major Internal Revenue Service center and the Federal Reserve Bank of Kansas City. Major private employers headquartered in the area include H&R Block, Hallmark Cards, Cerner, and Honeywell, contributing to a robust job market. Population growth has been evident in the east suburbs, particularly in Independence and surrounding areas like Lee’s Summit and Blue Springs. These communities have seen an influx of new residents, drawn by affordable housing and proximity to downtown Kansas City. The demand for residential and commercial properties has led to increased commercial real estate investments, with new developments and redevelopment projects occurring along major corridors like U.S. Route 40 and I-70. Major employers in the east suburbs include Truman Medical Centers, the CenterPoint Medical Center, and several regional distribution hubs.