550 NE Circle Blvd - Fast Food FOR SALE


Corvallis, OR 97330
$3,685,000 USD
312-548-6822
550 NE Circle Blvd, Corvallis, OR for Sale
$3,685,000 USD
Fast Food - FOR SALE
1/8
null | 4.75% Cap Rate

550 NE Circle Blvd
Corvallis, OR 97330


HIGHLIGHTS

  • Newly Renovated Chipotlane Long Term Lease
  • Attractive Rent Increases
  • Dynamic Corporate Tenant
  • Zero Landlord Responsibilities
  • Strategic Retail Location
  • High Traffic Counts

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive sale of a single tenant, corporate leased Chipotle investment property located at 550 NE Circle Boulevard in Corvallis, Oregon (the “Property”). The Property was completely renovated in 2023 for Chipotle, who signed a brand-new, 15-year Absolute NNN Lease. The lease currently has 12+ years of term remaining with four (4), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease and at the start of each renewal option. The Chipotle is well-located along NE Circle Boulevard, a prominent commercial and commuter corridor in Corvallis. The Property is positioned within an established commercial cluster surrounded by national and local retailers, restaurants, grocery stores, and other daily-needs businesses, generating consistent traffic and providing a strong built-in customer base. The Property offers convenient access to US Highway 99 and is located near Oregon State University, Reser Stadium, and major employment, retail, and residential areas throughout Corvallis.

FOR SALE DETAILS

PRICE

$3,685,000 USD

PRICE/SF

$1,018 USD /SF

CAP RATE

4.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chipotle

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,363 SF

ZONING

Commercial

APN/PARCEL ID

321530

ASK ABOUT THIS PROPERTY

Jack CollinsHorvath & TremblayMore Info
312-548-6822

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Jack CollinsHorvath & TremblayMore Info
312-548-6822

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