1491 Emerson Dr NE - Fast Food FOR SALE
Palm Bay, FL 32907 |
$4,723,000 USD
954-302-7365
1491 Emerson Dr NE
Palm Bay, FL 32907
HIGHLIGHTS
- Brand New 15-Year Lease | Corporate Guaranty | New Construction |Scheduled Rental Increases | Leading Fast-Casual Chain
- Absolute NNN Lease | Fee Simple Ownership (Land & Building) | Limited Landlord Responsibilities | No State Income Tax
- Signalized, Hard Corner Intersection | Off I-95 (72,500 VPD) |Surrounding Retail | Dense Residential Area
- Palm Bay, FL - New Developments | Population Growth
- Demographics In The Local Trade Area | Strong Population Counts
OVERVIEW
• Chipotle recently signed a brand new 15-year lease with 4 (5-year) options to extend
• The lease is corporate guaranteed by Chipotle Mexican Grill, Inc., a publicly traded
(NYSE: CMG) and nationally recognized tenant with over 3,700 locations
• 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
FOR SALE DETAILS
PRICE
$4,723,000 USD
PRICE/SF
$1,889 USD /SF
CAP RATE
4.5%
% LEASED
-
TENANCY
Single
STATUS
Proposed
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Chipotle - Palm Bay FL
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Fast Food
ADD'L SUBTYPES
Freestanding, Restaurant
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2025
SPRINKLERS
-
PARKING SPACES
35
LAND DETAILS
LAND ACRES
1.04 AC
LAND SF
45,302 SF
ZONING
Commercial
APN/PARCEL ID
28-37-32-FS-00277.0-0001.00
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954-302-7365
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954-302-7365
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