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Chipotle 1940 N State St 2,350 SF Retail Building Belvidere, IL 61008 $3,500,000 ($1,489.36/SF) 5% Cap Rate
Investment Highlights
- Brand New 2026 Construction
- Absolute NNN Corporate Lease
- Fresh 15-Year Lease with NO early termination rights
- 10% Increases Every 5 Years
Executive Summary
Broker of Record
Matthew M. Fitzgerald
License # 478027547, 471021676 (IL)
Matthews Real Estate Investment Services, LLC
600 W Fulton, Ste 100 Chicago, IL 60661
(866) 889-0550
Matthew M. Fitzgerald
License # 478027547, 471021676 (IL)
Matthews Real Estate Investment Services, LLC
600 W Fulton, Ste 100 Chicago, IL 60661
(866) 889-0550
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
2,350 SF
Building Class
B
Year Built
2026
Price
$3,500,000
Price Per SF
$1,489.36
Cap Rate
5%
NOI
$175,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
2.84 AC
Opportunity Zone
Yes
Amenities
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Chipotle
- Accommodation and Food Services
- 2,350 SF
- -
- Triple Net
- Apr 2041
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Chipotle | Accommodation and Food Services | 2,350 SF | - | Triple Net | Apr 2041 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 05-22-476-008 | Improvements Assessment | $84,327 |
| Land Assessment | $142,882 | Total Assessment | $227,209 |
Property Taxes
Parcel Number
05-22-476-008
Land Assessment
$142,882
Improvements Assessment
$84,327
Total Assessment
$227,209
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Map
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Chipotle | 1940 N State St
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