4001 Lafountain StKokomo, IN 46902

Property Details for 4001 Lafountain St

Year built

2024

Lot size

0.83 AC

Property size (Sq ft)

2,325 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a newly constructed (2024), 2,325 square foot Chipotle restaurant located at 4001 S Lafountain St, Kokomo, IN 46902. The property sits on a 0.83-acre lot and benefits from an absolute NNN lease with a corporate guarantee from Chipotle Mexican Grill, a Fortune 500 company. The lease, expiring September 30, 2039, has a remaining term of approximately 14.9 years and includes a 10% rent increase every five years, ensuring consistent income growth. The property boasts a strong location in a high-traffic area anchored by Lowe's and Home Depot, with excellent visibility at a signalized intersection. The building features a high-capacity drive-thru, catering to the convenience of modern consumers. With a Net Operating Income (NOI) of $166,725 and a 5.50% cap rate, this single-tenant, Class A property offers a compelling return on investment. The site's strong demographics, with over 70,000 residents within a 5-mile radius, further enhance its appeal. This is a truly hands-off investment opportunity with a renowned tenant and built-in growth potential. The property's strategic location and strong tenant covenant make it an ideal addition to any portfolio.

Location Insight

City

Kokomo

County

Howard

State

Indiana

Latitude

40.439

Longitude

-86.1272

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