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Chipotle and LensCrafters - Strongsville, OH 17090 Royalton Rd 5,764 SF 100% Leased Retail Building Strongsville, OH 44136 $4,808,333 ($834.20/SF) 6% 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 with a first restaurant built around made-to-order Mexican-inspired food. The company operates as a fast-casual restaurant business focused on burritos, bowls, quesadillas, tacos, salads, catering, digital ordering, and rewards. Chipotle emphasizes real ingredients, responsible sourcing, and sustainability across food and animals, people, and the environment, with a market presence that extends beyond the United States.
-
- Retailer
- 3,454 SF
- $42.99
- Triple Net
- Apr 2033
LensCrafters was founded in 1983 and built its business around a faster eyewear shopping experience that combined eye care with on-site optical services. The company offers prescription eyeglasses, sunglasses, contact lenses, lenses, and eye exams, with products available in stores and online. LensCrafters carries a range of branded eyewear and lens options, and operates as part of EssilorLuxottica's broader eyewear and eye-care portfolio.
| 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 | $283,920 |
| Land Assessment | $167,230 | Total Assessment | $451,150 |
Property Taxes
