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Chipotle Mexican Grill 2612 E Baseline St 2,325 SF 100% Leased Retail Building Cornelius, OR 97113 $3,772,000 ($1,622.37/SF) 4.50% Cap Rate
INVESTMENT HIGHLIGHTS
- New 15-year absolute NNN lease to Chipotle, a globally recognized Mexican restaurant chain with over 3,800 stores worldwide.
- Tenant handles all taxes, insurance, and maintenance, including roof, structure, and parking lot, ideal for both out-of-area or local investors.
- In 2024, Chipotle achieved strong growth with total revenue rising 14.6% to $11.3 billion and comparable restaurant sales increasing 7.4%.
- 10% rental increases every five (5) years in initial term and option periods, ensuring consistent income growth
- Chipotle, a Fortune 500 company, was named among Fortune’s Most Admired Companies and Time Magazine’s Most Influential Companies in 2024.
- The company plans to open 315-345 new restaurants in 2025, with over 80% featuring “Chipotlane” drive-thrus.
EXECUTIVE SUMMARY
This Chipotle is positioned along East Baseline Street, a primary east-west retail corridor in Cornelius with 35,200 vehicles per day, offering excellent visibility and accessibility. In 2024, Chipotle achieved strong growth with total revenue rising 14.6% to $11.3 billion and comparable restaurant sales increasing 7.4%. The property serves a dense and affluent population of 96,572 within five miles, with an average household income of $124,371 within one mile. Located as an outparcel to Cornelius 10 Cinemas, the site benefits from significant crossover retail traffic and is a gateway to Downtown Portland, where tourism and hospitality generate over $5.5 billion annually. Projected increases in population and income within 1-, 3-, and 5-mile radii over the next five years position both this Chipotle and the Cornelius market for continued growth
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Building Size
2,325 SF
Building Class
C
Year Built
2025
Price
$3,772,000
Price Per SF
$1,622.37
Cap Rate
4.50%
NOI
$169,725
Percent Leased
100%
Building Height
1 Story
Building FAR
0.04
Lot Size
1.35 AC
Zoning
C-2
Parking
27 Spaces (11.61 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R0756079 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $475,040 |
PROPERTY TAXES
Parcel Number
R0756079
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$475,040
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Chipotle Mexican Grill | 2612 E Baseline St
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