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Chipotle 1961 14th Ave SE 2,325 SF Retail Building Albany, OR 97322 $2,927,000 ($1,258.92/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 10+ years remaining on corporate lease featuring 10% rental increases every 5 years
- Ideal positioning at main ingress/egress point
- Chipotle's 2024 revenues totaled $11.3 billion, a 14.6% increase over the previous year
- Pad to Target-anchored mall – Heritage Mall, top 8% of shopping centers in Oregon in terms of annual foot traffic per Placer.ai
- 20-year roof materials warranty in place (~15 years remaining)
- Ranked on the Fortune 500 and recognized on the 2024 list of Fortune’s Most Admired Companies
EXECUTIVE SUMMARY
10+ years remaining on corporate Chipotle lease featuring 10% rental increases every 5 years throughout the base term and options. The subject property is located at Heritage Mall – a 350,000+ SF mall that ranks in the top 8% of shopping centers in Oregon in terms of annual visits.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Building Size
2,325 SF
Building Class
B
Year Built
2021
Price
$2,927,000
Price Per SF
$1,258.92
Cap Rate
4.75%
NOI
$139,039
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.49 AC
Zoning
C - Commercial District
Frontage
169’ on 14th Avenue Southeast
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (84)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0946985 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,507,360 |
PROPERTY TAXES
Parcel Number
0946985
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,507,360
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Chipotle | 1961 14th Ave SE
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