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Chipotle & Tasty Pot

Albuquerque, New Mexico

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Marcus & Millichap is pleased to present the exclusive listing for a Chipotle Mexican Grill located at 1000 Juan Tabo Blvd, Albuquerque, NM 87112. The site consists of roughly 2,392 rentable square feet of building space on estimated 1.06-acre parcel of land.Chipotle Mexican Grill is subject to a 15-year double-net (NN) lease, which will commence upon store opening (estimated November 2022). The current annual rent is $93,885 and is scheduled to increase by 10% every 5 years throughout the base term and in each of the 4, 5-year renewal options.

About the Investment
2 New Long-Term, 15-Year (Chipotle), 10-Year(Tasty Pot) Double-Net (NN) Leases
Newly Constructed and Redeveloped Site
Ten Percent (10%) Rental Increases Occurring Every Five (5) Years
Four (4), Five (5)-Year Tenant Renewal Options for Chipotle and Two (2), Five-Year Renewal Options for Tasty Pot
About the Location
Dense Retail Corridor | Circle-K, Wendy’s, Pizza Hut, Domino’s, Subway, Dollar General, Hobby Lobby, Wells Fargo, Walmart, Chase, Taco Bell, Dollar Tree, Sam’s Club, Olive Garden, Sonic, Target, Dutch Bros, Albertsons, Starbucks, and Many More
Strong Demographics | Population Exceeds 226,000 Individuals Within a Five-Mile Radius and 416,000 Within a Ten-Mile Radius
Strong Real Estate Fundamentals | Located Less Than 6-Miles from University of New Mexico (27,353 Students Enrolled)
Strong Traffic Counts | Over 38,420 and 105,489 Vehicles Per Day Along Juan Tabo Boulevard and Interstate 40 (Coronado Freeway)
Albuquerque International Sunport| Located Approximately 6.32-Miles Away | Serves over 5.4 Million Passengers Per Year
Affluent Community | Average Household Income Exceeding $77,000 Within a Ten-Mile Radius
About the Tenants / Brands
First Tenant –Chipotle Mexican Grill, Inc.
Chipotle Mexican Grill, Inc is Publicly Traded on the NYSE Under the Ticker CMG
The Company Operates 2,768 Locations and Generated a Revenue of More Than
$6 Billion in 2020
Despite the Pandemic, Chipotle’s Revenue Increased by 7.1% in 2020
As of May 2021, Chipotle’s Stock is Near All-Time Highs
Second Tenant –Tasty Pot and Uji Time Desserts
Tasty Pot Is An Authentic Taiwanese Individual Hotpot Chain That Seeks To Provide Healthy Dining In A Comfortable, Modern Setting.
Tasty Pot Currently Has 32 Location And 8 More Coming Up
Each Location Is Designed To Provide A Comfortable Dining Experience
Uji Time Desserts Offers Japanese Inspired Fun And Delicious Ice Cream For All Ages

Key Details

Price:
$3,702,552
Cap Rate:
5.50%
Annual Rent:
$203,639
Address:
1000 Juan Tabo Blvd, Albuquerque, New Mexico 87112
Property Type:
Retail
Lease Type:
Double Net (NN)

Original Lease Term:
15 Years
Lease Commencement:
03/31/2022
Lease Expiration:
03/31/2037
Lease Term Remaining:
±15 Years
Rental Increases:
10% Every 5 Years
Lot Size:
1.06 Acres
Building Size:
2 SF
Year Built:
2022
Tenant:
Chipotle & Tasty Pot

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Judson Kauffman

License: 10401296108

Hannan Ben Yosef

License: 10401358655

Broker of record

Ryan Sarbinoff

License: 20675


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