Chipotle | New 15yr Corp NNN w/ Incrs | DrThr 1025 W Landis Ave

Investment Highlights

Brand New 15-Year Lease | Corporate Guaranteed | Scheduled Rental Increases | Leading Fast-Casual Chain Fronting W. Landis Avenue | 2024 Construction | Chipotlane Concept | Chipotle - 2024 International Expansion NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities Chipotle - Q3 2023 Report Highlights | October 26, 2023

Executive Summary

? The tenant recently signed a brand new 15-year lease with 4 (5-Year) options to extend, demonstrating their long-term commitment to the site? The lease is corporate guaranteed by Chipotle Mexican Grill, Inc., a publicly traded (NYSE: CMG) and nationally recognized tenant with over 3,300 locations? 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Freestanding Freestanding General Retail Fast Food General Retail Restaurant Freestanding
• Building Size    2,325
• Year Built    2024
• Price    3,431,000
• Price Per SF    1,476
• Cap Rate    5.10
• NOI    175,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.07
• Land Acres    0.78 AC
• Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

• Restaurant
• Signage
• Drive Thru