Chipotle 900 Pasadena Ave S 2,500 SF Retail Building Saint Petersburg, FL 33707 $4,778,000 ($1,911.20/SF) 4.50% Cap Rate

Chipotle recently signed a brand new 15-year lease with 4 (5-year) options to extend at 900 Pasadena Avenue S in South Pasadena, Florida.? The lease is corporate guaranteed by Chipotle Mexican Grill, Inc.?, a publicly traded company (NYSE: CMG) and nationally recognized tenant with over 4,200 locations.? Brand-new construction will feature a dedicated Chipotlane for convenient digital order pickup, along with Chipotle's latest prototype design and newest store features.?
This is an Absolute NNN lease where the tenant pays for CAM, taxes, insurance and maintains all aspects of the premises, with no landlord responsibilities.? This creates an ideal, management-free investment for a passive investor in a state with no state income tax.?
Chipotle is ideally positioned along Pasadena Avenue S, which sees over 28,000 vehicles per day and serves as a main north/south thoroughfare serving the City of St.? Petersburg.? The site is located near several key demand drivers, including HCA Florida Pasadena Hospital, a 307-bed facility that generates a consistent pool of employees, patients, and visitors; St.? Petersburg College, serving more than 13,000 students annually; St.? Petersburg High School, with approximately 1,700 students; and Boca Ciega High School, with approximately 1,000 students.?