Property For Sale Listing 183841
Chipotle - Absolute NNN Investment
Status as of Dec-1-2008 at 01:21 AM: Active
Property Summary
The subject property is a Chipotle leasehold interest investment located in Columbus (Hilliard), Ohio. The total acreage is 0.85 acres and the building is 2,400-square feet. There are no management responsibilities
as this is an absolute NNN lease. Chipotle opened for business in March of 2007, and signed an initial 10-year lease. Chipotle's rent increases 10 percent every five years. There are four, five year options
to renew the lease with stipulated rent increases.
The ground lease payment of $60,000 per year ($5,000 per month) does not increase over the life of the lease. Therefore, the cash-on-cash return for this investment over a 20 year hold is greater than other ground lease investments. The average return is 8.60 percent over a 20 year hold. With a population of approximately 60,000, Hilliard is known for its close proximity to the I-270 local outerbelt and easy access to wellknown I-70 and I-71. Strategic location and a strong community ensure this veritable mix of small town values, contemporary homes, and local businesses will continue to have a major economic and social impact on the central Ohio region.
Categories
Location
| Classification: |
United States // Midwest States // Ohio // Columbus |
Price
| Price Classification: |
Between $100 Thousand and $500 Thousand |
Property Type
| Classification: |
Retail-Commercial Properties |
| Type: |
Retail - Restaurant |
