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Chipotle - Melbourne FL 4521 Andromeda Rd 2,471 SF Retail Building West Melbourne, FL 32904 $4,433,000 ($1,794.01/SF) 4.50% Cap Rate
Investment Highlights
- Brand New 15-Year Lease | Corporate Guaranty (NYSE:CMG) | 10% Rental Increases | 2026 Construction
- Frontage On U.S. Hwy 192 (32,500 VPD) | Steps From I-95 (101,500 VPD)
- Space Coast Town Center | 225-Acre Master-Planned Development
- Absolute NNN Lease | Fee Simple Ownership (Land & Building) | Zero Landlord Responsibilities
- Dense Retail Corridor | Surrounded by New Development
- Strong Demographics In 5-mile Trade Area
Executive Summary
• Chipotle recently signed a brand new 15-year lease with 4 (5-year) options to extend
• The lease is corporate guaranteed by Chipotle Mexican Grill, Inc., a publicly traded
(NYSE: CMG) and nationally recognized tenant with over 4,000 locations
• 10% rental increases every 5 years throughout the initial term and at the beginning of each option period drive NOI growth and provide a built-in hedge against inflation
• 2026 construction will feature the latest Chipotle prototype with modern finishes and an optimized drive-thru layout
• The lease is corporate guaranteed by Chipotle Mexican Grill, Inc., a publicly traded
(NYSE: CMG) and nationally recognized tenant with over 4,000 locations
• 10% rental increases every 5 years throughout the initial term and at the beginning of each option period drive NOI growth and provide a built-in hedge against inflation
• 2026 construction will feature the latest Chipotle prototype with modern finishes and an optimized drive-thru layout
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,471 SF
Building Class
B
Year Built
2026
Construction Status
Under Construction
Price
$4,433,000
Price Per SF
$1,794.01
Cap Rate
4.50%
NOI
$199,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.03 AC
Zoning
GTWY-1 - Gateway Interchange District
Parking
35 Spaces (14.16 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Drive Thru
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Property Taxes
| Parcel Number | 28-36-03-52-00000.0-0008.00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $360,420 |
Property Taxes
Parcel Number
28-36-03-52-00000.0-0008.00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$360,420
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Chipotle - Melbourne FL | 4521 Andromeda Rd
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