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1121 Heights Pky 2,325 SF Retail Building Canton, GA 30115 $3,200,000 ($1,376.34/SF) 5% Cap Rate
Investment Highlights
- New 15-year absolute NNN lease to Chipotle, a globally recognized Mexican restaurant chain with over 3,800 stores worldwide.
- Tenant handles all taxes, insurance, and maintenance, including roof, structure, and parking lot, ideal for both out-of-area or local investors.
- Chipotle experienced strong growth in 2024, including a 14.6% increase in total revenue to $11.3 billion and a 7.4% increase in comparable restaurant
- 10% rental increases every five (5) years in initial term and option periods, ensuring consistent income growth.
- Chipotle is ranked on the Fortune 500 and is recognized on the 2024 list for Fortune’s Most Admired Companies.
- The company plans to open 315-345 new restaurants in 2025, with over 80% featuring “Chipotlane” drive-thrus.
Executive Summary
The site benefits from a prime drive-thru Chipotle location with immediate access to Interstate 575, capturing substantial local and commuter traffic with approximately 93,100 AADT. The tenancy is supported by Chipotle’s strong operating performance, including 2024 total revenue growth of 14.6% to $11.3 billion and a 7.4% increase in comparable restaurant sales. The surrounding demographic base is robust, with a five-mile population of 144,414 and an average annual household income of $132,061. The property is positioned within a retail power center anchored by a mix of national and regional tenants such as The Home Depot, Kroger, Zaxby’s, Wendy’s, Taco Bell, Pep Boys, and Dairy Queen. The location also serves as a gateway to Downtown Atlanta, a major tourism and hospitality hub generating more than $20 billion annually. The market is expected to continue strengthening, with projected population and income growth across the 1-, 3-, and 5-mile radii over the next five years, supporting long-term demand and stability.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Retail
Building Size
2,325 SF
Building Class
B
Year Built
2026
Construction Status
Under Construction
Price
$3,200,000
Price Per SF
$1,376.34
Cap Rate
5%
NOI
$160,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.00 AC
Parking
29 Spaces (11.37 Spaces per 1,000 SF Leased)
Frontage
175’ on Main St
Amenities
- Dedicated Turn Lane
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $893,760 | Total Assessment | $893,760 |
Property Taxes
Parcel Numbers
Land Assessment
$893,760
Improvements Assessment
$0
Total Assessment
$893,760
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1121 Heights Pky
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