Chipotle 3971 53rd S ave 2,325 SF Retail Building Fargo, ND 58104 $3,714,285 ($1,597.54/SF) 5.25% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Chipotle located in Fargo, North Dakota. The property was built for Chipotle in 2025 with a long-term 15-year lease commencing in July 2025. The new lease features 10% rental escalations every ?ve years throughout the primary term and three 5-year renewal options.
The 2,325-square-foot building is positioned along 52nd Avenue South, which sees approximately 22,800 vehicles per day, and offers immediate access to Interstate 29, a major thoroughfare with over 78,900 vehicles daily. The property is situated near a Walmart Supercenter—one of the area’s primary traffic generators—and serves as the southernmost Chipotle location in Fargo. Surrounding national retailers include AutoZone, Starbucks, ALDI, Valvoline, Les Schwab Tire Center, Circle K, and Planet Fitness, among others. Additional nearby demand drivers include the Microsoft Fargo Campus, Fargo Parks Sports Center, Shanley High School, Suite Shots, and PAM Health Rehabilitation Hospital. There are over 144,000 people living within a five-mile radius. Those of which within a one-mile radius earn a six-figure average household income of $124,970.
Chipotle Mexican Grill, Inc. (NYSE: CMG) is a leading fast-casual restaurant brand known for serving responsibly sourced, high-quality ingredients in customizable burritos, bowls, tacos, and salads. Founded in 1993 in Denver, Colorado, Chipotle revolutionized the restaurant industry by combining quick service with fresh, real food prepared on-site daily. The company emphasizes a “Food with Integrity” mission, sourcing ingredients such as antibiotic-free meats, organic beans, and produce from local farms whenever possible. With a unique open-kitchen format and a commitment to transparency, Chipotle has become a favorite for health-conscious and convenience-driven consumers alike.