Chula Vista (San Diego), CA - Chipotle
$5,116,000
726 Main Street, Chula Vista, CA 91911
4.75
Cap Rate
243,000
NOI
Details:
Description:
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, Chipotle investment property located in Chula Vista, California. The tenant, Chipotle, recently signed a brand new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at
the beginning of each option period, steadily growing NOI and hedging against inflation.
The Chipotle is accessed from the signalized, hard corner intersection
of Main Street and Maxwell Road which combine to average more than 38,700 vehicles passing by daily. Additionally, the asset is located less than a mile from Interstate 805, which sees over 262,000 vehicles per day. Main Street is the primary road used to travel to and from North Island Credit Union Ampitheater, one of the largest venues in San Diego. Furthermore, Main Street is being expanded eastward to intersect with California 125 and Hunte Pkwy, increasing the importance of Main Street as a primary east-west corridor.
Location
Gallery
