Chipotle | Houston, TX SEQ of I-610 & Beechnut St

Investment Highlights

New 20-year absolute NNN lease with 8% rental increases in initial term and option periods No landlord management, an ideal opportunity for passive investors Chipotle is ranked on the Fortune 500 and is recognized on the 2023 list for Fortune?s Most Admired Companies Strong corporate guarantee from an investment-grade national tenant (NYSE: ?CMG?) Chipotle is the only restaurant company of its size that owns and operates all its restaurants

Executive Summary

High-Visibility Location: This Chipotle is prominently positioned just off Interstate 610, which sees more than 213,000 vehicles travel along them each dayPrime Setting: The location features a prime setting in the newly constructed Meyerland Crossing Shopping Center, a five-acre retail development along Interstate 610 in the epicenter of Meyerland, TXReliable Customer Base: The site greatly benefits from its close proximity to apartment communities including The Halstead (301 units), The High Bank (284 units), and The Meritage (240 units)Beneficial Proximity to Schools: Bellaire High School, Rice University, Houston Christian University, and Baylor College of Medicine are located within five miles from the restaurant, providing consistent traffic from the combined 16,500+ students that attend these schoolsBeneficial Proximity to Hospitals: Memorial Hermann Southwest Hospital, Texas Medical Center, and the Michael E. DeBakey VA Medical Center are located within five miles from the restaurant, serving as another source of consistent trafficExcellent Demographics: Nearly 500,000 residents live within a five-mile radius of the subject property, while the average annual household income within a one-mile radius is over $210,000High Growth Market: This Chipotle is located in the heart of one of the strongest retail trade areas in the Houston MSA and is less than 10 miles from Downtown Houston

• Sale Type    Investment
• Sale Conditions    1031 Exchange 1031 Exchange Build to Suit 1031 Exchange
• Property Type    Retail
• Property Subtype    Freestanding Freestanding General Retail Fast Food General Retail Restaurant Freestanding
• Building Size    2,325
• Building Class    B
• Year Built    2024
• Construction Status    Under Construction
• Price    5,173,000
• Price Per SF    2,225
• Cap Rate    4.35
• NOI    225,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.08
• Land Acres    0.67 AC