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Chipotle, Houston, TX

Chipotle

Houston, TX

Price $4,750,000
Cap Rate 4.00%
NOI $190,000
Lease Term 20 Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2021
Building Size 2,400 SF
Lot Size 81 Acres (35,284 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Managing 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 20-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

EASILY ACCESSIBLE LOCATION IN HIGHLY POPULATED AND GROWING AREA
» 258,368 residents within a five-mile radius of the property
» Easily accessibly location along Little York Road (31,375 AADT)
» Immediate access to Interstate 69/U.S. Route 59/Eastex Freeway (226,152 AADT), greatly increasing visibility and traffic to the location
» Projected eight percent average annual household income increase within three miles of the site in the next five years, poising Chipotle and Houston for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Surrounded by a strong mix of well-established national tenants in a dense retail corridor, including Raising Cane’s, Chick-fil-A, Taco Bell, McDonald’s, Walgreens, and many more
» Only Chipotle location within a 15-minute drive of the site
» Beneficial proximity to area hubs and attractions, including Keith Wiess Park, Golf Club of Houston, and Brock Park Golf Course
» Nine miles from Downtown Houston, the fourth-most populous city in the U.S.

2021 CONSTRUCTION IN A TAX-FREE STATE
» Features latest Chipotle prototype
» Includes outdoor patio seating
» Located in an income-tax free state



Property Description

The property has an easily accessible location along Little York Road, with visibility and access to 31,375 vehicles per day. The property benefits from its central location in a highly populated area, with 258,368 residents living within a five-mile radius of the location. The site also has a beneficial location in near Interstate 69/U.S. Route 59/Eastex Freeway, which experiences a high traffic count of 226,152 AADT. With a projected eight percent average annual household income increase within three miles of the site in the next five years, Chipotle and Houston are poised for significant concurrent growth.

The site benefits from its location near large employers, retailers, and community hubs. The property is surrounded by a strong mix of well-established national tenants in a dense retail corridor, including Raising Cane’s, Chick-fil-A, Taco Bell, McDonald’s, Walgreens, and many more. Visibility to the site is also increased by its central location as the only Chipotle restaurant within a 15-minute drive of the site. The location maintains a beneficial proximity to major area hubs and attractions, including Keith-Wiess Park, Golf Club of Houston, and Brock Park Golf Course. The site also experiences increased activity from its proximity and easy access to Downtown Houston, the fourth-most populous city in the United States.

Contact Us About This Property

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