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Chipotle & Sage Dental NNN - Corp Guarantees 2560 S Washington Ave 6,150 SF 100% Leased Retail Building Titusville, FL 32780 $4,700,000 ($764.23/SF) 5.38% Cap Rate
Investment Highlights
- Corporate Guarantees – Both tenants backed by corporate entities
- Built-In NOI Growth – Contractual 10% rent increases lift returns from 5.38% to 5.92% within two years
- 2022 Construction – Modern build with minimal landlord responsibilities
- NNN Leases – Chipotle & Sage Dental
- Additional upside available through contractual administrative fees.
- Lifestyle Center Outparcel – Outparcel to Titus Landing (±350,000 SF), anchored by major national retailers.
Executive Summary
RE/MAX 360 Real Estate is pleased to present the 100% fee simple interest in a dual-tenant NNN investment located at 2560 South Washington Avenue (US-1) in Titusville, Florida.
The property totals 6,150 SF on 1.05 acres. It sits on a prime signalized corner at US-1 & Harrison Street, serving as the high-visibility southeast outparcel to Titus Landing, a ±350,000 SF lifestyle center anchored by Hobby Lobby, Epic Theatres, Ulta, Bealls, and other national retailers.
Pricing & Cap Rate Growth
Offered at $4,700,000, the property produces a Base NOI of $252,638 (5.38% cap). Additionally, ownership collects approximately +/- 12,000 in administrative fees, providing additional income upside for an Adjusted NOI of $264,638 (5.63% capitalization rate)
Both tenants benefit from 10% fixed rent increases, delivering reliable income growth:
2027 – Chipotle: Base NOI increases to $262,958 (5.60% cap rate)
2028 – Sage Dental: Base NOI increases to $277,920 (5.92% cap rate)
(Additional upside available through contractual administrative fees.)
High-Quality Corporate Tenants (Both Corporate Guaranteed)
Chipotle Mexican Grill (NYSE: CMG): initial 10-year corporate-guaranteed NNN lease featuring the newest Chipotlane drive-thru prototype.
Sage Dental – Corporate-guaranteed NNN lease with one of the fastest-growing Dental Support Organizations in the Southeast.
The property totals 6,150 SF on 1.05 acres. It sits on a prime signalized corner at US-1 & Harrison Street, serving as the high-visibility southeast outparcel to Titus Landing, a ±350,000 SF lifestyle center anchored by Hobby Lobby, Epic Theatres, Ulta, Bealls, and other national retailers.
Pricing & Cap Rate Growth
Offered at $4,700,000, the property produces a Base NOI of $252,638 (5.38% cap). Additionally, ownership collects approximately +/- 12,000 in administrative fees, providing additional income upside for an Adjusted NOI of $264,638 (5.63% capitalization rate)
Both tenants benefit from 10% fixed rent increases, delivering reliable income growth:
2027 – Chipotle: Base NOI increases to $262,958 (5.60% cap rate)
2028 – Sage Dental: Base NOI increases to $277,920 (5.92% cap rate)
(Additional upside available through contractual administrative fees.)
High-Quality Corporate Tenants (Both Corporate Guaranteed)
Chipotle Mexican Grill (NYSE: CMG): initial 10-year corporate-guaranteed NNN lease featuring the newest Chipotlane drive-thru prototype.
Sage Dental – Corporate-guaranteed NNN lease with one of the fastest-growing Dental Support Organizations in the Southeast.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
6,150 SF
Building Class
B
Year Built
2022
Price
$4,700,000
Price Per SF
$764.23
Cap Rate
5.38%
NOI
$252,638
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Lot Size
1.05 AC
Zoning
C - Retail, office, and service uses in designated areas
Parking
50 Spaces (0 Spaces per 1,000 SF Leased)
Frontage
573’ on South Washington Avenue
Nearby Major Retailers
Property Taxes
| Parcel Number | 22-35-15-02-00000.0-0005.01 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,139,970 |
Property Taxes
Parcel Number
22-35-15-02-00000.0-0005.01
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,139,970
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Chipotle & Sage Dental NNN - Corp Guarantees | 2560 S Washington Ave
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