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Chipotle 231 Saratoga Rd 2,338 SF 4-Star Retail Building Glenville, NY 12302 $2,000,000 ($855.43/SF) 5.50% Cap Rate
Investment Highlights
- 10.5+ Years Remaining | Options To Extend | 8% Rental Increases | Corporate Guaranty (NYSE: CMG)
- Dense Retail Corridor | Strong Tenant Synergy
- Strong Demographics In The 5-Mile Trade Area
- NNN Lease | Minimal Landlord Responsibilities
- Frontage On Saratoga Rd/State Hwy 10 (16,000 VPD) | Signalized Intersection
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a Chipotle Mexican Grill property located in Glenville, New York. The lease features over 10.5 years of remaining primary term with four (4) additional 5-year renewal options, providing long-term income security. The lease includes 8% rental increases at the start of lease year 11 and at the beginning of each option period, delivering consistent NOI growth and a built-in inflation hedge. The lease is backed by a corporate guaranty from Chipotle Mexican Grill, Inc. (NYSE: CMG), one of the most prominent and innovative brands in the fast-casual restaurant sector, with more than 3,800 locations nationwide. Structured as a NNN lease with minimal landlord responsibilities, the asset offers a passive, low-management opportunity ideal for out-of-state investors.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,338 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2021
Price
$2,000,000
Price Per SF
$855.43
Cap Rate
5.50%
NOI
$110,003
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.67 AC
Zoning
GB - General Business
Parking
23 Spaces (9.84 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 022-011-0003-018-000-0000 | Improvements Assessment | $814,285 |
| Land Assessment | $400,000 | Total Assessment | $1,214,285 |
Property Taxes
Parcel Number
022-011-0003-018-000-0000
Land Assessment
$400,000
Improvements Assessment
$814,285
Total Assessment
$1,214,285
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Chipotle | 231 Saratoga Rd
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