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Chipotle and LensCrafters - Strongsville, OH 17090 Royalton Rd 5,764 SF 100% Leased Retail Building Strongsville, OH 44136 $5,017,390 ($870.47/SF) 5.75% Cap Rate
Investment Highlights
- Backed by Chipotle Mexican Grill, Inc. (NYSE: CMG), a publicly traded Fortune 500 company with a market capitalization exceeding $70 billion.
- Chipotle has seen tremendous growth in recent years, averaging 11% annually over the past two years.
- Strongsville has a median household income of around ~$102,574 according to ACS data, indicating a relatively affluent, stable suburban population.
- LensCrafters is part of the global optical-retail network of EssilorLuxottica, one of the largest eyewear and optical groups in the world.
- Located in the highly trafficked SouthPark and Royalton Road corridor of Strongsville (a key suburban trade area).
- Chipotle continues to roll out its “Chipotlane” drive-thru format and advanced mobile-order pickup technology to enhance convenience and sales.
Executive Summary
In Cooperation With ParaSell, Inc. , A Licensed Ohio Broker - Lic. #REC.2020005946 BoR: Scott Reid - Lic. OH #BRKP.2020001224
Property Facts
Amenities
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- 2,310 SF
- $60.61
- Triple Net
- Mar 2033
Chipotle Mexican Grill began in 1993 when Steve Ells opened a restaurant in Denver, Colorado. The company focuses on burritos, tacos, bowls, and salads made with fresh ingredients. Customers can customize their orders while watching the food preparation. Chipotle operates thousands of locations internationally and emphasizes using real food without artificial additives. The chain has grown substantially since its founding and remains a major player in the fast-casual dining industry.
-
- Retailer
- 3,454 SF
- $42.99
- Triple Net
- Apr 2033
LensCrafters began in 1983 when E. Dean Butler created a new eyewear retail model in Ohio. The company pioneered same-day glasses production using on-site labs in shopping malls. This innovation made LensCrafters popular for convenience. After rapid expansion in the 1980s, they were acquired by Luxottica in 1995. Today, as part of EssilorLuxottica, they operate numerous locations across North America. LensCrafters provides eye exams, contact lenses, and both prescription and non-prescription eyewear.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 2,310 SF | $60.61 | Triple Net | Mar 2033 | |
|
|
Retailer | 3,454 SF | $42.99 | Triple Net | Apr 2033 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 396-14-016 | Improvements Assessment | $363,335 |
| Land Assessment | $200,655 | Total Assessment | $563,990 |
Property Taxes
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Chipotle and LensCrafters - Strongsville, OH | 17090 Royalton Rd
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