Chipotle | Savannah, GA | 2098 US Highway 17
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Chipotle | Savannah, GA 2098 US Highway 17
2,325 SF Retail Building Richmond Hill, GA 31324 $3,700,000 ($1,591/SF) 5% Cap Rate
Investment Highlights
- New 15-year absolute NNN lease to a major national QSR tenant
- No landlord management, an ideal opportunity for passive investors
- Chipotle is ranked on the Fortune 500 and is recognized on the 2024 list for Fortune’s Most Admired Companies
- 10% rental increases every five (5) years in initial term and option periods, providing a passive long-term income generator
- Chipotle is the only restaurant company of its size that owns and operates all its restaurants
Executive Summary
This Chipotle is prominently positioned along Highway 17, which sees more than 25,000 vehicles per day. The property resides less than three miles from the entry to The Ford Field & River Club, a premier residential and sporting community sprawling 1,800 acres and comprising 400 residences and homesites.
This Chipotle will be the first location in the area (with the next closest location more than 10 miles away), a welcome new amenity for the city’s residents. The site greatly benefits from its proximity to major national retailers such as Kroger, Food Lion, Walgreens, CVS Pharmacy, ACE Hardware, Starbucks, Dollar Tree, Family Dollar, Dollar General, AutoZone, and Anytime Fitness.
Nearly 32,838 residents live within a five-mile radius of the subject property, while the average annual household income within a one-mile radius is over $120,000. Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years poise Chipotle and Richmond Hill for steady concurrent growth.
Richmond Hill is a common gateway to Savannah, the fifth-most populous city in Georgia with a metro area population of 404,798.
This Chipotle will be the first location in the area (with the next closest location more than 10 miles away), a welcome new amenity for the city’s residents. The site greatly benefits from its proximity to major national retailers such as Kroger, Food Lion, Walgreens, CVS Pharmacy, ACE Hardware, Starbucks, Dollar Tree, Family Dollar, Dollar General, AutoZone, and Anytime Fitness.
Nearly 32,838 residents live within a five-mile radius of the subject property, while the average annual household income within a one-mile radius is over $120,000. Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years poise Chipotle and Richmond Hill for steady concurrent growth.
Richmond Hill is a common gateway to Savannah, the fifth-most populous city in Georgia with a metro area population of 404,798.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,325 SF
Building Class
B
Year Built
2024
Price
$3,700,000
Price Per SF
$1,591
Cap Rate
5%
NOI
$185,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.77 AC
Zoning
CITY
Parking
33 Spaces (14.19 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 053-004-02A | Improvements Assessment | $0 |
| Land Assessment | $89,320 | Total Assessment | $89,320 |
PROPERTY TAXES
Parcel Number
053-004-02A
Land Assessment
$89,320
Improvements Assessment
$0
Total Assessment
$89,320
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Chipotle | Savannah, GA | 2098 US Highway 17
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