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Chipotle Mexican Grill 1701 SW Court Ave 3,724 SF Retail Building Pendleton, OR 97801 $3,158,000 ($848.01/SF) 4.75% Cap Rate
Investment Highlights
- Chipotle Mexican Grill | Strong corporate-backed lease | $70 billion market cap | $11.9 billion total revenue (2025)
- New 15-year passive double-net (NN) lease | Virtually no landlord responsibilities | 10% rent increases every 5 years
- Limited national QSR competition | Supply-constrained market | Fills gaps in local dining landscape
- 2025 building conversion | Attractive modern building architecture and design | Spacious outdoor patio | Digital order “Chipotlane” drive-thru pickup
- Real estate advantage | Adjacent to the famous Pendleton Round-Up Rodeo Grounds – Draws over 50,000 attendees annually
Executive Summary
Lee & Associates and Bang Realty are pleased to present the opportunity to acquire the fee simple interest in a newly converted Chipotle Mexican Grill located at 1701 SW Court Place in Pendleton, Oregon. The property consists of an approximately 2,500 square foot freestanding restaurant situated on a 0.50-acre parcel. The building underwent a full conversion in 2025 and features modern architecture, a digital order “Chipotlane” drive-thru pickup lane, and a 350 square foot outdoor patio.
The property benefits from strong retail fundamentals and a strategic location directly adjacent to the Pendleton Round-Up Rodeo Grounds, one of the most recognized rodeo venues in the United States drawing more than 50,000 visitors annually. The site is positioned within Pendleton’s primary retail corridor near national tenants including Walmart Supercenter, Safeway, Taco Bell, Dollar Tree, and Grocery Outlet, providing strong traffic drivers and consumer demand in the trade area. Pendleton serves as the county seat of Umatilla County and functions as the region’s commercial and tourism hub, supported by government services, healthcare, retail, and a strong tourism economy anchored by the nationally recognized Pendleton Round-Up event.
The property benefits from strong retail fundamentals and a strategic location directly adjacent to the Pendleton Round-Up Rodeo Grounds, one of the most recognized rodeo venues in the United States drawing more than 50,000 visitors annually. The site is positioned within Pendleton’s primary retail corridor near national tenants including Walmart Supercenter, Safeway, Taco Bell, Dollar Tree, and Grocery Outlet, providing strong traffic drivers and consumer demand in the trade area. Pendleton serves as the county seat of Umatilla County and functions as the region’s commercial and tourism hub, supported by government services, healthcare, retail, and a strong tourism economy anchored by the nationally recognized Pendleton Round-Up event.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
3,724 SF
Building Class
C
Year Built/Renovated
1980/2025
Price
$3,158,000
Price Per SF
$848.01
Cap Rate
4.75%
NOI
$150,005
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
0.50 AC
Zoning
C-1
Parking
18 Spaces (4.83 Spaces per 1,000 SF Leased)
Frontage
138’ on Southwest Court Avenue
Amenities
- Restaurant
- Signalized Intersection
- Drive Thru
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (73)
Nearby Major Retailers
Property Taxes
| Parcel Number | 109495 | Improvements Assessment | $354,980 |
| Land Assessment | $163,210 | Total Assessment | $518,190 |
Property Taxes
Parcel Number
109495
Land Assessment
$163,210
Improvements Assessment
$354,980
Total Assessment
$518,190
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Chipotle Mexican Grill | 1701 SW Court Ave
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