Exceptional investment opportunity: a brand-new, 2,325 square foot Chipotle restaurant in Crescent City, California, situated on a 0.85-acre lot. This is a single-tenant, net lease (NN+) property with a corporate guarantee from a Fortune 500 company, offering a secure and passive income stream. The 10-year lease commenced October 15, 2024, and expires October 31, 2034, featuring built-in rent bumps. The property boasts a 4.50% cap rate and a net operating income (NOI) of $200,000. Built in 2024, this location is the only Chipotle within an 80-mile radius, serving a population of 23,163 residents within a 10-mile radius, with an average annual household income of $88,460. Its strategic location at the signalized intersection of L Street and 9th Street on US Highway 101 ensures high visibility and accessibility, benefiting from over 7,700 vehicles passing daily. The property's proximity to schools (Joe Hamilton Elementary, Crescent Elk Middle, College of the Redwoods, and Del Norte High School) and tourist attractions (Del Norte County Fairgrounds, Ocean World, Crescent City Harbor District, and Battery Point Beach) further enhances its appeal. The site also benefits from its proximity to major national retailers like Walmart, Safeway, Grocery Outlet, Dollar Tree, and CVS. The restaurant incorporates a dedicated "Chipotlane" drive-thru for added customer convenience. This is a 1031 exchange eligible property.
Highlights
High-traffic location: Chipotle's first Crescent City location at the signalized intersection of L Street and 9th Street, with over 15,000 vehicles daily.
Strong student demographic: Walking distance to Joe Hamilton Elementary and Crescent Elk Middle School, and less than two miles from College of the Redwoods and Del Norte High School (3,000+ students).
High tourist traffic: Near Del Norte County Fairgrounds, Ocean World, Crescent City Harbor District, and Battery Point Beach, attracting thousands of visitors annually.
Excellent retail synergy: Located near Walmart Supercenter, Safeway, Grocery Outlet, Dollar Tree, and CVS.
Stable residential base: Serves a population of 23,163 within a 10-mile radius, with an average household income of $88,460.
New construction: 2024-built Chipotle with a dedicated Chipotlane drive-thru.
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Contacts
Ryan Forsyth
Russell Train
Michael Yuras
Vincent Aicale
Scott Crowle
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895 L St, Crescent City, California, 95531
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895 L St
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