Chipotle NNN Properties for Sale in Florida
Chipotle Mexican Grill (NYSE: CMG) is one of the best-performing QSR chains with approximately 3,400 US locations. Chipotle's shift toward 'Chipotlane' drive-thru locations has driven unit-level performance and NNN real estate demand. Corporate-guaranteed leases with strong investment-grade credit.
Typical Cap Rate
5.00% - 5.75%
Lease Term
15 years + options
Price Range
$2.5M - $5M
Building Size
2,200 - 2,500 SF
Lot Size
0.75 - 1.00 acres
Credit Rating
S&P: BBB+
Investment Highlights
- Investment-grade corporate credit (BBB+)
- Best-in-class QSR unit economics
- Chipotlane (drive-thru) strategy driving new BTS
- 15-year lease terms with renewal options
- Corporate-owned and operated model
- Strong brand with young consumer loyalty
Lease Structure
Chipotle leases are typically NNN (or ground lease) with 15-year initial terms and 4 five-year options. Rent bumps 7-12% every 5 years. Corporate guarantee from Chipotle Mexican Grill, Inc.
Chipotle Tenant Profile
Chipotle Mexican Grill operates 3,400+ corporate-owned US restaurants. Revenue $10B+. Credit: S&P BBB+, Moody's Baa2 (solid investment grade). Strong same-store sales growth and high average unit volumes ($3M+ per store).
Chipotle in Florida
Florida has 200+ Chipotle locations with aggressive Chipotlane expansion. Prime drive-thru locations trade at 5-5.5% cap rates.
Why Buy Chipotle
- +Strong investment-grade corporate credit
- +Best-performing QSR chain for unit economics
- +Corporate-owned (no franchisee risk)
- +Active Chipotlane BTS program
- +Brand loyalty drives resilient performance
Considerations
- •Smaller building size limits reuse if Chipotle exits
- •Tight cap rates limit current yield
- •Verify Chipotlane vs. endcap configuration
- •Food safety track record warrants due diligence
Related QSR Tenants
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