Chipotle w/ Drive-Thru Atlanta,Georgia

$3,138,000
Closed Single-Tenant
Property type:Single-Tenant Net Lease

The space

  • Price: $3,138,000
  • Cap Rate: 4.75%
  • Rentable Square Feet: 2,330
  • Annual Rent: $149,050
  • Land Area: 0.69 Acre
  • Year Built: 2020
  • Lease Guarantor: Chipotle Mexican Grill, Inc.
  • Lease Term: 15 Years
  • Option Periods: 4, 5-Year Options
  • Rent Increases: 10% Every 5 Years
  • Lease Expiration: 9/30/2035

Description

4500 Jimmy Lee Smith Pkwy
Hiram, GA 30141 (Atlanta MSA)

Investment Highlights

  • New, 15-Year, NNN Lease with Four, Five-Year Renewal Options
  • 10 Percent Rent Increases Every Five Years Through Base Term and Options
  • Brand New Location; Scheduled to Open in October 2020
  • Will Include Chipotle Drive-Thru, ‘Chipotlane’
  • Located on Jimmy Lee Smith Parkway With Daily Traffic Count of More Than 35,000 Vehicles
  • Surrounding National Retailers Include Walmart Supercenter, Home Depot, Super Target, Sam’s Club, Best Buy, Planet Fitness, Marshalls, PetSmart, Michael’s, Aldi, Academy Sports, Office Max, Texas Roadhouse, McDonald’s, Chili’s Grill and Bar, Taco Bell, Dunkin Donuts, Pep Boys, CVS and Many More
  • Part of the Atlanta MSA With a Population of Roughly 5.9 Million

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Chipotle Mexican Grill in Hiram, Georgia, Atlanta MSA. With new construction, this property’s anticipated opening is in October 2020. This Chipotle has a new 15-year, triple net lease and offers four, five-year renewal options. There are 10 percent rent increases every five years throughout the base term and option periods. This location will also include a Chipotle Drive-Thru, known as “Chipotlane.”

The subject property is in Hiram’s major retail corridor, located on Jimmy Lee Smith Parkway with daily traffic count of more than 35,000 vehicles. And is an outparcel to a shopping center. Surrounding national retailers include Walmart Supercenter, Home Depot, Super Target, Sam’s Club, Best Buy, Planet Fitness, Marshalls, PetSmart, Michael’s, Aldi, Academy Sports, Office Max, Texas Roadhouse, McDonald’s, Chili’s Grill and Bar, Taco Bell, Dunkin Donuts, Pep Boys, CVS and many more. This Chipotle is two miles from WellStar Paulding Hospital which is one of the largest and most integrated healthcare systems in Georgia.

Hiram, Georgia is part of the Atlanta metro area with a population of roughly 5.9 million people. The Atlanta metro places among the highest in the nation for job growth adding more than 328,900 jobs in the last five years – with this Chipotle contributing to that growth.

Chipotle is a strong brand and despite covid-19, their earnings and stock continue to rise. Chipotle had over 2,600 restaurants as of March 31, 2020, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. This Chipotle location in Hiram will include the drive-thru. Customers are able to place their order through the Chipotle mobile app or via website, then pick it up in the “Chipotlane,” all without ever having to leave their car.


John Leonard
Broker of Record
Atlanta Lic.# 252904
[email protected]

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