1657 E Idaho Ave 2,140 SF Retail Building Ontario, OR 97914 $2,897,000 ($1,353.74/SF) 5.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Newly constructed building
- Property features Chipotle's mobile pick up window "Chipotlane"
- NNN Investment leased with 15 year initial term
- Fee simple ownership
EXECUTIVE SUMMARY
MAJ Commercial Real Estate is pleased to present the opportunity to acquire a Single Tenant Net Leased Investment located in Ontario, OR. The property is leased to Chipotle on a brand new 15-Year term with a commencement date of September 2023. This location consists of a Chipotle’s pickup window “Chipotlane” for customers with meals preordered in the Chipotle mobile-app. Positioned on a Home Depot pad along Highway 30, the location boasts approximately 23,600 vehicles per day and is just about 0.25 miles from Interstate 84. Some of the surrounding businesses include Walmart, Verizon, Carl’s Jr., Quality Inn & Suites, Best Western, Red Lion Hotels and more.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,140 SF
Building Class
B
Year Built
1994
Price
$2,897,000
Price Per SF
$1,353.74
Cap Rate
5.35%
NOI
$155,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.65 AC
Zoning
O-C2H
Parking
32 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
106’ on Idaho Ave
AMENITIES
- Pylon Sign
- Drive Thru
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
3,906
22,235
34,237
2029 Population
4,326
24,289
38,124
2024-2029 Projected Population Growth
10.8%
9.2%
11.4%
Median Age
32.9
36.7
37.8
College Degree + Higher
12%
18%
16%
Daytime Employees
4,342
11,844
14,593
Total Businesses
487
1,598
2,005
Average Household Income
$63,601
$67,099
$68,545
Median Household Income
$38,749
$54,052
$54,774
Total Consumer Spending
$36.6M
$236.3M
$378M
2024 Households
1,328
8,242
12,711
Average Home Value
$245,723
$247,349
$297,388
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 18531 | Improvements Assessment | $519,713 |
| Land Assessment | $203,539 | Total Assessment | $723,252 |
