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Chipotle | Andover, KS 520 E Cloud Ave 2,300 SF Retail Building Andover, KS 67002 $3,272,000 ($1,422.61/SF) 5.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Single-Tenant Chipotle Drive-Thru Pad at Andover Marketplace
- 10% increases every 5 years during the base term and each of the four 5-year options
- Across From the New Heritage Mixed-Use Development: Heritage is a new 103-acre development
- New 15-year NNN lease
- New Chipotlane Prototype Building: Approximately 60%-70% of all business for quick service restaurants come through the drive-thru
- Explosive Growth and Affluent Demographics: Andover is the most affluent suburb of Wichita
EXECUTIVE SUMMARY
New-Construction 15-Year NNN Lease | 10% Increases Every 5 Years | #1 Affluent Suburb in Wichita; $153,000 + AHHI
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,300 SF
Building Class
B
Year Built
2025
Construction Status
Under Construction
Price
$3,272,000
Price Per SF
$1,422.61
Cap Rate
5.35%
NOI
$175,052
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.03 AC
NEARBY MAJOR RETAILERS
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Chipotle | Andover, KS | 520 E Cloud Ave
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