421 S Columbia Ave
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421 S Columbia Ave
2,392 SF Retail Building Rincon, GA 31326 $3,882,353 ($1,623/SF) 4.25% Cap Rate
Investment Highlights
- +/- 2,392 SF Chipotle w/ Drive-Thru
- Corporately Guaranteed Lease by Chipotle (NYSE: CMG) w/ Over $9.9 Billion in Revenue & Market Cap of $88 Billion
- 15-Year Absolute NNN Lease with 10% Increases Every 5-Years
- Strategically positioned near well-performing tra?c generators (Walmart Supercenter & Kroger Marketplace)
Executive Summary
The subject property is a +/- 2,392 SF freestanding building formerly occupied by Burger King. Chipotle Mexican Grill has executed a brand new 15-year absolute NNN lease corporately guaranteed by Chipotle Mexican Grill, Inc. (NYSE: CMG) to take the entire building and drive-thru. The lease includes 10% rental increases every 5-years in the primary term and in the (4) 5-year option periods.
Located on South Columbia Avenue (Highway 21) this +/- 1.0 acre parcel sits in the heart of Rincon’s retail corridor and shadows well-performing retailers (Walmart Supercenter, Kroger Marketplace, and Lowe’s Home Improvement) and QSRs (Starbucks, Chick-fil-a, McDonald’s, Arby’s, KFC, Taco Bell, and Popeye’s). This site has excellent visibility and access from South Columbia Avenue (29,400 Vehicles Per Day) and shares a rear access drive which connects to the lighted intersection of Fort Howard Road and South Columbia Avenue. This is an excellent opportunity for an investor to purchase a stable, long term, corporately guaranteed investment with zero landlord responsibility.
Located on South Columbia Avenue (Highway 21) this +/- 1.0 acre parcel sits in the heart of Rincon’s retail corridor and shadows well-performing retailers (Walmart Supercenter, Kroger Marketplace, and Lowe’s Home Improvement) and QSRs (Starbucks, Chick-fil-a, McDonald’s, Arby’s, KFC, Taco Bell, and Popeye’s). This site has excellent visibility and access from South Columbia Avenue (29,400 Vehicles Per Day) and shares a rear access drive which connects to the lighted intersection of Fort Howard Road and South Columbia Avenue. This is an excellent opportunity for an investor to purchase a stable, long term, corporately guaranteed investment with zero landlord responsibility.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,392 SF
Building Class
C
Year Built
2024
Price
$3,882,353
Price Per SF
$1,623
Cap Rate
4.25%
NOI
$165,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.00 AC
Zoning
GC - General Commercial
Parking
44 Spaces (18.39 Spaces per 1,000 SF Leased)
Frontage
200 FT on S. Columbia Avenue
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Drive Thru
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R2120-00000-004-A01 | Improvements Assessment | $181,202 |
| Land Assessment | $396,396 | Total Assessment | $577,598 |
PROPERTY TAXES
Parcel Number
R2120-00000-004-A01
Land Assessment
$396,396
Improvements Assessment
$181,202
Total Assessment
$577,598
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421 S Columbia Ave
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