Chipotle Mexican Grill | 7 Technology dr
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Chipotle Mexican Grill 7 Technology dr
2,524 SF 100% Leased Retail Building Garner, NC 27529 $4,879,858 CAD ($1,933 CAD/SF) 4.75% Cap Rate
Investment Highlights
- ATTRACTIVE LEASE FUNDAMENTALS
- LOCATED IN HIGH GROWTH RALEIGH MSA
- CORPORATE GUARANTY FROM INVESTMENT GRADE TENANT
Executive Summary
ATTRACTIVE LEASE FUNDAMENTALS
- 15 Year Abs. NNN Lease with zero landlord responsibilities
- Four (4) five (5) year options remaining
- 10% Increases every 5 years in base rent and extension periods
LOCATED IN LOW VACANCY RETAIL NODE
- 885K sqft of retail space in a 1-mile radius boasting a 1.1% vacancy rate
- Over 14K SF of absorption YoY
- Nearby retail tenants include: Walmart supercenter, Lowe’s Home Improvement, Food Lion, Walgreens, Dunkin Donuts
CORPORATE GUARANTY FROM INVESTMENT GRADE TENANT
- Chipotle has a Market Cap of $82B (NYSE: CMG) with over 3,200+ locations across the country
- Chipotle opened 121 new restaurants in 2023 with 110 of those locations utilizing a Chipotlane
HIGH GROWTH AND AFFLUENT TRADE AREA
- 3.7% annual population growth in a 1-mile radius (2020 to 2024) with a forecasted 4.3% for the next 5 years
- AHHI exceeds $96K in a 1 mile radius providing a high discretionary spending
NEW CONSTRUCTION WITH GREAT VISIBILITY AND ACCESSIBILITY
- New construction build-to-suit Chipotle with a drive-through “Chipotlane”
- Multiple points of egress and ingress
- Located on a hard corner lighted intersection providing frontage on both Technology Dr & NC-42 (~32K VPD)
- Approximately a quarter mile to I-40 (67,500 VPD)
RALEIGH MSA TAILWINDS
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)
- 15 Year Abs. NNN Lease with zero landlord responsibilities
- Four (4) five (5) year options remaining
- 10% Increases every 5 years in base rent and extension periods
LOCATED IN LOW VACANCY RETAIL NODE
- 885K sqft of retail space in a 1-mile radius boasting a 1.1% vacancy rate
- Over 14K SF of absorption YoY
- Nearby retail tenants include: Walmart supercenter, Lowe’s Home Improvement, Food Lion, Walgreens, Dunkin Donuts
CORPORATE GUARANTY FROM INVESTMENT GRADE TENANT
- Chipotle has a Market Cap of $82B (NYSE: CMG) with over 3,200+ locations across the country
- Chipotle opened 121 new restaurants in 2023 with 110 of those locations utilizing a Chipotlane
HIGH GROWTH AND AFFLUENT TRADE AREA
- 3.7% annual population growth in a 1-mile radius (2020 to 2024) with a forecasted 4.3% for the next 5 years
- AHHI exceeds $96K in a 1 mile radius providing a high discretionary spending
NEW CONSTRUCTION WITH GREAT VISIBILITY AND ACCESSIBILITY
- New construction build-to-suit Chipotle with a drive-through “Chipotlane”
- Multiple points of egress and ingress
- Located on a hard corner lighted intersection providing frontage on both Technology Dr & NC-42 (~32K VPD)
- Approximately a quarter mile to I-40 (67,500 VPD)
RALEIGH MSA TAILWINDS
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,524 SF
Year Built
2024
Price
$4,879,858 CAD
Price Per SF
$1,933 CAD
Cap Rate
4.75%
NOI
$231,772 CAD
Percent Leased
100%
Building Height
1 Story
Nearby Major Retailers
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David Hoppe -
Mike Lucier -
Ben McCarter -
Ben Olmstead -
Atlantic Capital Partners
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Chipotle Mexican Grill | 7 Technology dr
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