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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 publicly traded fast-casual restaurant company headquartered in Newport Beach, California. Founded in 1993, the company focuses on serving customizable Mexican-inspired dishes prepared with fresh ingredients. Chipotle relocated its headquarters from Denver to Newport Beach in 2018, establishing its primary corporate offices at 610 Newport Center Drive, Suite 1300, where the executive team and administrative functions are based. The organization operates thousands of restaurant locations globally and remains known for its emphasis on sustainable sourcing and its “Food with Integrity” philosophy. Chipotle is listed on the New York Stock Exchange under the ticker symbol CMG and functions as a large enterprise within the restaurant industry. Over time, the company has expanded its operational capabilities through additional support centers across the United States. The headquarters in Newport Beach continues to oversee national operations, strategic planning, and brand development.
-
- Retailer
- 3,454 SF
- $42.99
- Triple Net
- Apr 2033
LensCrafters began in 1983 when E. Dean Butler created a new vision care retail model in Cincinnati, Ohio. The company grew rapidly through the 1980s by pioneering on-site lens crafting and quick service. Today LensCrafters operates as part of EssilorLuxottica, maintaining a significant presence in North America and select international markets. The retailer offers prescription glasses, sunglasses, and contact lenses while providing eye exams through independent doctors. LensCrafters combines advanced digital tools with personalized service across numerous locations.
| 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
Presented by
Chipotle and LensCrafters - Strongsville, OH | 17090 Royalton Rd
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