For Sale
$3,020,000

32897 Western Hl DrWinchester, CA 92596

High-growth location, corporate lease, strong returns.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a newly constructed (2024) Chipotle Mexican Grill restaurant located at 32897 Western Hills Dr, Winchester, CA 92596. The property is a single-story, free-standing building featuring a "Chipotlane" drive-thru, strategically positioned at the entrance of a planned 166,000 square foot retail development in Riverside County. The property boasts a 100% occupancy rate with a corporate guaranteed lease, offering significant stability and predictable cash flow. The lease is a NNN (Net, Net, Net) structure, meaning the tenant is responsible for most operating expenses. Rent increases are built in, with a 10% bump every five years. The lease includes three five-year options, providing long-term security for the investor. The asking price is $3,020,000, representing a 4.85% cap rate. The property benefits from exceptional demographics, including a 15.35% population growth from 2020-2023, the addition of 3,300 new residential units, and an affluent population with an average household income of $123,000 within a 10-mile radius, encompassing approximately 432,000 residents. The site enjoys excellent visibility and accessibility at the intersection of Domenigoni Parkway and Winchester Road, a high-traffic area with 57,892 vehicles per day. This property is situated within the Inland Empire MSA, a market with over 4 million consumers. The tenant, Chipotle, is a financially strong company with nearly $10 billion in revenue in 2023.

Highlights

  • Corporate lease to creditworthy tenant generating nearly $10B in 2023 revenue.
  • New construction Chipotle with Chipotlane drive-thru.
  • High-traffic location at the entrance to a planned 166,000 square foot retail center.
  • Strong population growth: 15.35% increase (2020-2023) and 3,300 new residential units added.
  • Affluent demographics: $123,000 average household income and 432,000 residents within a 10-mile radius.
  • Excellent visibility and access at the Domenigoni Pkwy and Winchester Rd intersection (57,892 vehicles per day).

Property Details for 32897 Western Hl Dr

Property type
Retail properties
Year Built
2024
Buildings
1
Stories
1

Location Insight

City
Winchester
County
Riverside
State
California
Latitude
33.6957902
Longitude
-117.092937
32897 Western Hl Dr, Winchester, California

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32897 Western Hl Dr
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