For Sale
$2,990,000

66 Us-321Hickory, NC 28601

High-growth market, strong tenant, 15-year lease.

Overview

Added:
Feb 11
Days on market:
53
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,325 square foot Chipotle Mexican Grill located in Hickory, North Carolina. The property boasts a 15-year absolute NNN lease with a corporate guarantee from Chipotle, a publicly traded company (NYSE: CMG) with a market capitalization exceeding $82 billion and over 3,200 locations nationwide. The lease commenced November 21, 2024, and expires December 1, 2039, offering a substantial remaining term of approximately 14.8 years. The lease includes four 5-year renewal options with a 10% rent increase every five years. This is a first-generation Habanero prototype featuring a drive-through "Chipotlane," strategically positioned on a high-traffic retail corridor (US-321 NW, 38.5K VPD) with excellent visibility and accessibility. The 0.92-acre lot is situated in a high-growth area, benefiting from a strong demographic profile, including an average household income exceeding $86,000 within a 5-mile radius and a population exceeding 68,000. The property's location near major transportation arteries (Hwy 70 E and I-40) and a dense industrial node further enhances its value. The current Net Operating Income (NOI) is $145,000, resulting in a compelling 4.85% cap rate. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant long-term growth potential. The property was built in 2024 and enjoys 100% occupancy.

Highlights

  • $2,990,000 asking price for a Net Leased, Class A retail property.
  • Absolute NNN lease with corporate guarantee from Chipotle.
  • 15-year lease (11/21/2024 - 12/01/2039), with four 5-year renewal options and 10% rent increases every 5 years.
  • 2,325 square feet, 100% occupancy, $145,000 NOI, 4.85% cap rate.
  • Located on 0.92 acres at 66 US-321, Hickory, NC 28601, a high-traffic retail corridor.
  • New construction, Habanero prototype Chipotle with a Chipotlane drive-thru.

Property Details for 66 Us-321

Property type
Retail properties, Restaurants
Square Feet
2,325 SF
Class
A
Year Built
2024
Lot Size (sq. ft)
40,075 SF

Location Insight

City
Hickory
County
Catawba
State
North Carolina
Latitude
35.732502246763
Longitude
-81.365128517202
66 Us-321, Hickory, North Carolina

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66 Us-321
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