Chipotle | 12035 NE Halsey St
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Chipotle 12035 NE Halsey St
2,376 SF Retail Building Portland, OR 97220 £2,709,748 (£1,140/SF) 4.75% Net Initial Yield
Investment Highlights
- Strong Corporate Guarantee from a Credit Rated Tenant | Absolute NNN Lease
- Rental Increases | 10% Rental Increases Every 5 Years providing a strong hedge against inflation
- Commuter Route Frontage | Property boasts frontage on NE Halsey St and just off NE 122nd Ave which see 50,000+ VPD
- Brand New Lease | 15 Years Remaining on the Lease
- 2024 Construction | Brand new build-to-suit for Chipotle with store opening August 8, 2024
- Ease of Circulation | Chipotle benefits from being situated on a .58 AC lot with ample parking and a drive-thru “Chipotlane”
Executive Summary
CBRE is pleased to present a brand new Chipotle for sale at 12035 NE Halsey St. in Portland, OR. This property includes a +/- 2,300 SF single tenant drive-thru building on a .58 acre street frontage parcel. Chipotle is currently operating on a 15-year lease with contractual increases of 10% every 5 years providing a strong hedge against inflation. The lease features a corporate guaranty from Chipotle Mexican Grill, Inc. minimizing any short-term investment risk. The property offers a rare opportunity to acquire an industry leading tenant on an Absolute NNN long-term lease with zero landlord responsibilities.
The Asset is located just 8 miles east of downtown Portland and benefits from being situated on the busy commuter road, NE Halsey St and just off NE 122nd Ave, which see a combined 50,000+ vehicles per day. The site just opened on August 8, 2024 and is equipped with ample parking and a Chipotlane. The property is surrounded by national tenants including WinCo Foods, Starbucks, Wells Fargo, Planet Fitness, Public Storage and many more.
The Asset is located just 8 miles east of downtown Portland and benefits from being situated on the busy commuter road, NE Halsey St and just off NE 122nd Ave, which see a combined 50,000+ vehicles per day. The site just opened on August 8, 2024 and is equipped with ample parking and a Chipotlane. The property is surrounded by national tenants including WinCo Foods, Starbucks, Wells Fargo, Planet Fitness, Public Storage and many more.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,376 SF
Building Class
B
Year Built
2024
Price
£2,709,748
Price Per SF
£1,140
Net Initial Yield
4.75%
NOI
£128,713
Tenancy
Single
Number of Floors
1
Building FAR
0.09
Lot Size
0.58 AC
Zoning
C2
Parking
30 Spaces (12.63 Spaces per 1,000 SF Leased)
Frontage
155 ft on Halsey St
Amenities
- Bus Route
- Pylon Sign
- Signage
- Drive Thru
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Chipotle
- -
- -
- -
- Aug 2039
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Chipotle | - | - | - | Aug 2039 |
Walk Score ®
Very Walkable (82)
Bike Score ®
Biker's Paradise (94)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R178014 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £431,599 |
PROPERTY TAXES
Parcel Number
R178014
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£431,599
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Chipotle | 12035 NE Halsey St
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