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Chipotle 895 L St 2,325 SF Retail Building Crescent City, CA 95531 $4,211,000 ($1,811.18/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- New 10-Year Corporate Net Lease to Chipotle (NYSE: CMG)
- High Quality 2024 Construction with Chipotlane Drive-Thru & Outdoor Patio
- Signalized, Hard Corner Location Along US-101 with Multiple Access Points
- Scheduled Rent Increases Throughout Initial Term and Options
- Crescent City’s First Chipotle – Only Location Within 80 Miles
- Neighboring Traffic Drivers include College of the Redwoods, Del Norte High School, Safeway, Home Depot & Major Tourist Attractions
EXECUTIVE SUMMARY
New 10-year corporate net lease to Chipotle (NYSE: CMG) with a Chipotlane drive-thru situated along US-101 in Northern California. The subject property is ideally located at a signalized, hard corner along the highly trafficked U.S. Highway 101. It enjoys convenient access from both M and L Streets, with a combined traffic count of 21,300 ADT. This new Chipotle location sits within a tourist hub and is additionally supported by approximately 23,000 residents within a 10-mile radius with an average household income of nearly $90,000.
The site lies along Crescent City’s primary retail corridor near downtown, with nearby traffic drivers including Safeway, Grocery Outlet, Tractor Supply, Crescent City Cinemas, Dollar Tree, Home Depot, and numerous hotels. Additional surrounding retailers include Dutch Bros, Burger King, McDonald’s, Starbucks, CVS, Denny’s, AutoZone, and more. Just across U.S. Highway 101, the Del Norte County Fairgrounds hosts year-round community events and attractions. Walmart Supercenter and Sutter Coast Hospital (Sutter Health) are within one and a half miles of the site.
There is a significant student population in close proximity, including College of the Redwoods (1,200 students) and Del Norte High School (1,000 students). Crescent Elk Middle School and Joe Hamilton Elementary are within walking distance, adding to a built-in consumer base of students and families.
The site lies along Crescent City’s primary retail corridor near downtown, with nearby traffic drivers including Safeway, Grocery Outlet, Tractor Supply, Crescent City Cinemas, Dollar Tree, Home Depot, and numerous hotels. Additional surrounding retailers include Dutch Bros, Burger King, McDonald’s, Starbucks, CVS, Denny’s, AutoZone, and more. Just across U.S. Highway 101, the Del Norte County Fairgrounds hosts year-round community events and attractions. Walmart Supercenter and Sutter Coast Hospital (Sutter Health) are within one and a half miles of the site.
There is a significant student population in close proximity, including College of the Redwoods (1,200 students) and Del Norte High School (1,000 students). Crescent Elk Middle School and Joe Hamilton Elementary are within walking distance, adding to a built-in consumer base of students and families.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,325 SF
Building Class
B
Year Built
2024
Price
$4,211,000
Price Per SF
$1,811.18
Cap Rate
4.75%
NOI
$200,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.85 AC
Opportunity Zone
Yes
Parking
28 Spaces (12.04 Spaces per 1,000 SF Leased)
AMENITIES
- Pylon Sign
- Drive Thru
Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 118-250-013-000 | Improvements Assessment | $2,525,000 |
| Land Assessment | $672,420 | Total Assessment | $3,197,420 |
PROPERTY TAXES
Parcel Number
118-250-013-000
Land Assessment
$672,420
Improvements Assessment
$2,525,000
Total Assessment
$3,197,420
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Chipotle | 895 L St
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