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Chipotle Mexican Grill - New 15-Year Lease - 5411 Perkiomen Avenue, Reading, PA

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $2,727,000

  • 3,150

  • 5.50%

  • NOI :

  • Acres :

  • $150,000

  • 1.12

  • Property Type :

  • Property Status :

  • Net Lease

  • Available

Investment Highlights

  • Newly renovated Chipotle Mexican Grill with Chipotlane drive/thru
  • 15-year initial term lease with 10% rent increases every 5 years
  • 3-5 year renewal options
  • Chipotle (NYSE: CMG) corporate guarantee - $58B Market Cap with $8.6B 2022 Revenue
  • Minimal landlord responsibility – roof and structure only (brand new roof)
  • Chipotle year over year revenue up 14.4%
  • Prime location just off Shelbourne Road with traffic counts exceeding 42,300 cars/day
  • Across from major box stores and commercial areas including Home Depot and Walmart and 1.5 from Exeter Commons with anchor tenants Target and Lowe's
  • Adjacent to Reading Country Club golf course
  • Easy access to I-176 and downtown Reading
  • Excellent high-income demographics with 1-mile population over $118K