Chipotle
Closed601 Village Walk Dr, Holly Springs, NC 27540
Property type
Retail
Price
$2,500,000
Building size
3,425 sf
Rentable area
3,425 SF
Year built
2000
Year renovated
2021
Occupancy
Zoning code
Lot size
1.04 Acres
Sold/status
Sold · Date unknown
Sale price
$2500000
Net Operating Income
$125,000
Property description
Franklin Street is pleased to present this corporate guaranteed, drive-thru equipped, Chipotle investment property located in Holly Springs, North Carolina (Raleigh MSA). The tenant, Chipotle Mexican Grill, Inc., has 13 years remaining on their initial term. The guarantor, Chipotle Mexican Grill, Inc., is an established and nationally recognized brand with over 3,200 locations internationally with plans to double it's store count. The property is strategically located at the entrance of a Harris Teeter-anchored shopping center, which is one of the top-performing locations in the market. Chipotle benefits from nearby access to Highway 55 (39,500 VPD) and Avent Ferry Rd (15,500 VPD). This asset is situated in the primary retail corridor serving the trade area, with other surrounding national credit tenants including Walmart, Wegmans (Coming 2024), Lowe's, Aldi, Chick-fil-A, Burger King, Truist, McDonald's, Taco Bell, Goodwill, CVS, and Starbucks. Movers have helped swell Raleigh’s population nearly 3 percent in 2023 to nearly 1.6 million as it has consistently ranked in the top 10 fastest growing cities in the country. As one of the most educated cities in the country, it has some of the highest average household incomes in the country as well.
Property highlights
- 13 Year Lease Corporately Guarantee with Chipotle Mexican Grill, Inc.: Over 3,200 Locations Globally
- Outparcel to Harris Teeter Anchored Center: North Carolina's Dominant Grocer
- Strong Raleigh Suburb with 96,037 Residents within 5 Miles
- Nearby National Retailers include Harris Teeter, Wegmans (Coming 2024), Chick-fil-A, Burger King, Truist, McDonald's, Taco Bell, ALDI, Lowe's, Walmart, Goodwill, CVS, Starbucks, among many others.
- Affluent Pocket of Raleigh MSA: $150,304 Average Household Incomes
- Sales at Chipotlane Restaurants Average 10% to 15% Higher Than at Restaurants Without the Lanes
- Hot-Bed for New Development: Surrounded by 900+ New Homes
- Facing 39,500 Vehicles Per Day on Highway 55 Bypass
- Raleigh MSA Has Consistently Been Ranked in the Top 10 Cities Nationally for Fastest Growing
- Newly Constructed Rex Holly Springs Hospital Located Across the Street