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Chipotle & solidcore | Prime Location 697 Morris Tpke 4,000 SF 100% Leased Retail Building Springfield, NJ 07081 $5,842,000 ($1,460.50/SF) 5% Cap Rate

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Investment Highlights

  • Corporate-Guaranteed Leases | Long-Term Stability | Strong Embedded Rent Growth | Percentage Rent Upside
  • Prime Location | Shadow Anchored by Wawa and Shoprite | Dense Retail Corridor | High Traffic Exposure
  • #1 MSA in the U.S. | Top-Tier New Jersey Location | Exceptional Demographics

Executive Summary

• 100% occupied, two-tenant retail investment property
• Both tenants—Chipotle and Solidcore—operate under corporate guaranteed leases, providing strong credit backing and income security

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Building Size
4,000 SF
Building Class
B
Year Built
2019
Price
$5,842,000
Price Per SF
$1,460.50
Cap Rate
5%
NOI
$292,086
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
0.42 AC
Zoning
GC - General Commercial
Parking
32 Spaces (8 Spaces per 1,000 SF Leased)

Amenities

  • Dedicated Turn Lane
  • Freeway Visibility
  • Restaurant
  • Signage
  • Signalized Intersection

Major Tenants Click Here to Access

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Arts, Entertainment, and Recreation
  • 99,999 SF
  • -
  • -
  • Jan 0000

[solidcore] vision is a world where [solidcore] is the foundational routine for every active person seeking growth. If they are successful, [solidcore] will live not among the brand names, but rather, among the various approaches to fitness at large: cardio, Pilates, yoga, [solidcore]. Taking their place as a true category of one, they will be the well-balanced foundation for every active, growth-minded person’s goals – fitness and otherwise—the launching pad for everything else they seek to do and achieve in life. Their mission is to challenge members to seek their strongest self, through the world’s most transformative workout.

  • Accommodation and Food Services
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000

Chipotle Mexican Grill is a publicly traded fast-casual restaurant company headquartered in Newport Beach, California. Founded in 1993, the company focuses on serving customizable Mexican-inspired dishes prepared with fresh ingredients. Chipotle relocated its headquarters from Denver to Newport Beach in 2018, establishing its primary corporate offices at 610 Newport Center Drive, Suite 1300, where the executive team and administrative functions are based. The organization operates thousands of restaurant locations globally and remains known for its emphasis on sustainable sourcing and its “Food with Integrity” philosophy. Chipotle is listed on the New York Stock Exchange under the ticker symbol CMG and functions as a large enterprise within the restaurant industry. Over time, the company has expanded its operational capabilities through additional support centers across the United States. The headquarters in Newport Beach continues to oversee national operations, strategic planning, and brand development.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Arts, Entertainment, and Recreation 99,999 SF - - Jan 0000
Accommodation and Food Services 99,999 SF - Lorem Ipsum Jan 0000
Walk Score®
Very Walkable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

ShopRite
Chase Bank
TD AMERITRADE Branch
Peapack Private Bank & Trust
Kings
Tiger Schulmann's Martial Arts
SoulCycle
CrossFit
Burn Boot Camp
Benihana

Property Taxes

Property Taxes

Parcel Number
17-00501-0000-00003
Land Assessment
$883,200
Improvements Assessment
$844,800
Total Assessment
$1,728,000
  • Listing ID: 39269629

  • Date on Market: 1/30/2026

  • Last Updated:

  • Address: 697 Morris Tpke, Springfield, NJ 07081

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