32897 Western Hl DrWinchester, CA 92596

Property Details for 32897 Western Hl Dr

Year built

2024

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Winchester

County

Riverside

State

California

Latitude

33.6958

Longitude

-117.093

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