32897 Western Hl DrWinchester, CA 92596

Property Details for 32897 Western Hl Dr

Year built

2024

Property type

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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