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Chipotle | Abs NNN 2115 E NC Highway 54 2,763 SF Retail Building Durham, NC 27713 $3,895,000 ($1,409.70/SF) 4.75% Cap Rate
Investment Highlights
- Brand New 16-Year Lease | Options To Extend | Scheduled Rental Increases | Drive-Thru Equipped
- I-40 (173,000 VPD) | Retail Corridor |Strong National/Credit Tenant Presence
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
• The tenant recently signed a brand new 16-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option, steadily growing NOI and hedging against inflation
• The property is scheduled to open December 2025
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option, steadily growing NOI and hedging against inflation
• The property is scheduled to open December 2025
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,763 SF
Building Class
B
Year Built/Renovated
1991/2025
Price
$3,895,000
Price Per SF
$1,409.70
Cap Rate
4.75%
NOI
$185,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.77 AC
Zoning
Commercial
Parking
37 Spaces (13.39 Spaces per 1,000 SF Leased)
Frontage
36’ on Nc-54 Hwy
Amenities
- Dedicated Turn Lane
- Drive Thru
- Monument Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 154187 | Improvements Assessment | $597,691 |
| Land Assessment | $1,016,400 | Total Assessment | $1,614,091 |
Property Taxes
Parcel Number
154187
Land Assessment
$1,016,400
Improvements Assessment
$597,691
Total Assessment
$1,614,091
Contacts
-
Patrick Luther -
Matthew Mousavi -
Kyle Fant -
Britt Raymond -
SRS National Net Lease
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Chipotle | Abs NNN | 2115 E NC Highway 54
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