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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 is a fast-casual restaurant company specializing in Mexican-inspired cuisine prepared to order using fresh ingredients. The company was founded in 1993 by Steve Ells in Denver, Colorado, with a concept focused on operational simplicity and ingredient transparency. Chipotle expanded steadily through company-owned restaurants and became one of the first brands to define the modern fast-casual category.
-
- Retailer
- 3,454 SF
- $42.99
- Triple Net
- Apr 2033
Discover a unique eye care experience tailored to one's needs. Their experts are there to guide clients every step of the way, helping find the perfect vision solution for their eyes and lifestyle. They're revolutionizing eye care and eyewear to help see the difference. LensCrafters is where innovation meets precision and expertise meets excellence. They are digitizing the eye care industry with state-of-the-art eye exams and bringing the future of eyewear into the present day. Thanks to their wide assortment of designer frames and premium lenses, they provide a complete shopping experience. The next generation of vision care is here.
| 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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