2612 E Baseline St - Retail FOR SALE


Cornelius, OR 97113
$3,772,000 USD
415-413-3005
2612 E Baseline St, Cornelius, OR for Sale
$3,772,000 USD
Retail - FOR SALE
1/4
null | 4.5% Cap Rate

2612 E Baseline St
Cornelius, OR 97113


HIGHLIGHTS

  • New 15-year absolute NNN lease to Chipotle, a globally recognized Mexican restaurant chain with over 3,800 stores worldwide.
  • 10% rental increases every five (5) years in initial term and option periods, ensuring consistent income growth
  • Tenant handles all taxes, insurance, and maintenance, including roof, structure, and parking lot, ideal for both out-of-area or local investors.
  • Chipotle, a Fortune 500 company, was named among Fortune’s Most Admired Companies and Time Magazine’s Most Influential Companies in 2024.
  • In 2024, Chipotle achieved strong growth with total revenue rising 14.6% to $11.3 billion and comparable restaurant sales increasing 7.4%.
  • The company plans to open 315-345 new restaurants in 2025, with over 80% featuring “Chipotlane” drive-thrus.

OVERVIEW

This Chipotle is positioned along East Baseline Street, a primary east-west retail corridor in Cornelius with 35,200 vehicles per day, offering excellent visibility and accessibility. In 2024, Chipotle achieved strong growth with total revenue rising 14.6% to $11.3 billion and comparable restaurant sales increasing 7.4%. The property serves a dense and affluent population of 96,572 within five miles, with an average household income of $124,371 within one mile. Located as an outparcel to Cornelius 10 Cinemas, the site benefits from significant crossover retail traffic and is a gateway to Downtown Portland, where tourism and hospitality generate over $5.5 billion annually. Projected increases in population and income within 1-, 3-, and 5-mile radii over the next five years position both this Chipotle and the Cornelius market for continued growth

FOR SALE DETAILS

PRICE

$3,772,000 USD

PRICE/SF

$1,622 USD /SF

CAP RATE

4.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chiptole Mexican Grill

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

27

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

R0756079

ASK ABOUT THIS PROPERTY

Ryan ForsythCushman & WakefieldMore Info
415-413-3005

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Ryan ForsythCushman & WakefieldMore Info
415-413-3005

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.