Brand New, Long-Term Absolute NNN Chipotle 5110 N 83rd Ave 2,325 SF Retail Building Glendale, AZ 85305 $3,608,000 ($1,551.83/SF) 4.85% Cap Rate

Pegasus Investments Real Estate Advisory, as exclusive representatives for the Seller, is pleased to offer a newly constructed Chipotle located in Phoenix, Arizona (the “Property”). The newly developed asset is secured by a 15-year corporate net lease with Chipotle (NYSE: CMG), one of the leading brands in the QSR and American fast-casual sectors. This fee simple offering features a rare Absolute NNN lease structure, providing investors with superior income security compared to the more common NN leases typically associated with Chipotle locations. Built in 2025, the Property consists of a 2,325-square-foot building situated on approximately one acre. The lease includes 10% rent increases every five years and four five-year renewal options, offering long-term income stability and attractive growth potential for investors.
Strategically located near the high-traffic intersection of Camelback Road and 83rd Avenue, which sees approximately 50,000 vehicles per day, the Property enjoys excellent visibility and access. It benefits from strong synergistic co-tenancy with an adjacent EOS Fitness, which attracts health-conscious consumers who align well with Chipotle’s reputation for offering high-quality, responsibly sourced food at an accessible price point. Additionally, the location is supported by a dense, infill demographic base, with over 400,000 residents living within a five-mile radius, ensuring a steady flow of potential customers.
The Property is positioned within the thriving Phoenix metropolitan area, which ranked #4 nationally in year-over-year nominal growth among all U.S. metros. Located specifically in the West Valley submarket, the area is projected to account for 55% of Arizona’s population growth over the next decade. Significant developments like the Howard Hughes Corporation’s 37,000-acre, 100,000-home master-planned community are expected to further transform the region, bringing an additional 300,000 residents and 55 million square feet of new commercial space. These macroeconomic trends, coupled with the already strong demographic fundamentals, position the Property for continued demand and long-term value appreciation.

Chipotle Mexican Grill (NYSE: CMG) is widely regarded as a best-in-class tenant, operating more than 3,500 corporate-owned locations across North America with a market capitalization exceeding $67 billion. Known for its strong financial performance, brand loyalty, and continued innovation, including the expansion of its highly successful “Chipotlane” drive-thru model, Chipotle has demonstrated exceptional resilience and growth even in challenging economic environments. With a commitment to high-quality ingredients, a debt-free balance sheet, and strong same-store sales growth, Chipotle is consistently ranked among the top-performing restaurant brands in the United States. Real estate investments leased to Chipotle are highly sought after due to the company’s corporate guarantee, outstanding unit-level economics, and continued strategic emphasis on store expansion across high-growth markets like Phoenix.