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Chipotle 421 S Columbia Ave 2,392 SF Retail Building Rincon, GA 31326 $3,200,000 ($1,337.79/SF) 5.16% Cap Rate
INVESTMENT HIGHLIGHTS
- Newly constructed, freestanding Chipotle +/- 2,392 SF with "Chipotlane" drive-thru.
- Corporate Guaranty from Chipotle Mexican Grill, Inc (NYSE: CMG), one of the nation's leading fast casual restaurant brands.
- Frontage on High-Traffic S. Columbia Avenue with 35,000+ VPD near high-performing traffic generator anchors - Walmart, Kroger and Lowe's
- 15-Year Absolute NNN Lease (No Landlord Responsibilities) with 10% Increases Every 5-Years.
- Situated in Rincon, GA, one of the fastest-growing communities in the Savannah MSA area.
EXECUTIVE SUMMARY
Newly constructed Chipotle Mexican Grill drive-thru location situated in the growing city of Rincon, GA – part of the thriving Savannah, GA MSA. This premier single-tenant asset features a 15-year absolute triple-net (NNN) lease. The lease is corporately guaranteed by Chipotle Mexican Grill, Inc. (NYSE: CMG), one of the nation's leading fast- casual restaurant brands with a strong credit profile and over 3,000 locations nationwide. Built in 2024, this location includes a high-demand “Chipotlane” drive-thru for mobile pickup, catering to today’s convenience-driven consumer. The lease agreement provides 10% rental escalations every 5 years throughout the primary term and during each of the four 5-year renewal options, ensuring long-term income growth and inflation protection. Located in a high-visibility, high-traffic retail corridor with strong demographics and continued residential and commercial expansion, this asset presents an exceptional long-term investment opportunity in a rapidly growing Southeast market.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,392 SF
Building Class
C
Year Built
2024
Price
$3,200,000
Price Per SF
$1,337.79
Cap Rate
5.16%
NOI
$165,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.00 AC
Zoning
GC - General Commercial
Parking
44 Spaces (18.39 Spaces per 1,000 SF Leased)
Frontage
200’ on S. Columbia Avenue
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Drive Thru
- Storage Space
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- -
- -
- Triple Net
- Nov 2039
Chipotle was born of the radical belief that there is a connection between how food is raised and prepared, and how it tastes. Real is better. "Better for You, Better for People, Better for The Planet". It may be the hard way to do things, but it’s the right way. One of the first national restaurant brands to commit to goals on local and organic produce. First national restaurant brand to commit to using only responsibly raised meat with some of the highest animal welfare standards.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | - | - | Triple Net | Nov 2039 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R2120-00000-004-A01 | Improvements Assessment | $181,202 |
| Land Assessment | $396,396 | Total Assessment | $577,598 |
PROPERTY TAXES
Parcel Number
R2120-00000-004-A01
Land Assessment
$396,396
Improvements Assessment
$181,202
Total Assessment
$577,598
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Chipotle | 421 S Columbia Ave
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