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Chipotle, Tupelo, MS

Chipotle

Tupelo, MS

Price $3,364,000
Cap Rate 3.85%
NOI $129,503
Lease Term 15 Years
Lease Type Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2021
Building Size 2,325 SF
Lot Size 1 Acre (43,560 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
Executive 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 15-YEAR ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES TO STRONG RETAIL TENANT
» New 15-year absolute NNN lease
» Four (4) five (5) year option periods
» Strong corporate guarantee from investment-grade national tenant (NYSE: “CMG”)
» Absolute NNN lease requires no landlord management, ideal for passive investors
» Scheduled rental increases, providing a hedge against inflation

HIGH-TRAFFIC LOCATION IN DENSE, AFFLUENT, AND GROWING RETAIL CORRIDOR
» Conveniently located on North Gloster Street, with excellent visibility and access to 21,000 vehicles per day directly in front of the property
» Beneficial proximity to Highway 45 (39,000 AADT), increasing traffic to the location
» Population of 36,974 within five miles of the site
» Average annual household income of $164,826 within a one-mile radius
» Projected average annual household income increase of eight percent within one mile of the site in the next five years
» Surrounded by a strong mix of local and national retailers, including Lowe’s, Starbucks, Buffalo Wild Wings, Olive Garden, Walmart, Sam’s Club, Ross, Bed Bath & Beyond, Belk, HomeGoods, and many more
» Half a mile from the Mall at Barnes Crossing (12 million annual visitors), a major retail hub in Tupelo, increasing traffic to the property
» Tupelo serves as a regional hub, swelling by 300% each day per Tupelo’s Economic Development Department

NEW 2021 CONSTRUCTION
» 2021 construction featuring a dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Features latest store designs and concepts
» New building, limiting near-term deferred maintenance or capital costs



Property Description

The property is strategically located just off the hard corner of North Gloster Street and Mel Drive with 21,000 vehicles per day at the intersection. The subject property is located near The Mall at Barnes Crossings and just cross from a Lowe’s and Starbucks, promoting crossover shopping. The surrounding area is affluent and densely populated with 36,975 residents and an average household income over $78,000 within five miles of the property. The immediate area is poised for strong growth with average household income expected to increase over eight percent over the next five years within one mile of the property.

The subject property is centrally located in a growing retail corridor in a brand-new development with a Firestone adjacent to the site. The surrounding area is being rapidly developed with many retail sites under construction. The property is surrounded by a strong mix of local and national retailers, including Lowe’s, Starbucks, Buffalo Wild Wings, Olive Garden, Walmart, Sam’s Club, Ross, Bed Bath & Beyond, Belk, HomeGoods, and many more.

Contact Us About This Property

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