914 Van AveDaphne, AL 36526
- Retail properties
- 0.68 AC
Property Details for 914 Van Ave
- Year built
- 2024
- Lot size
- 0.68 AC
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a newly constructed (2024) Chipotle restaurant located at 914 Van Ave, Daphne, AL 36526. The property boasts a 2,226 square foot building situated on a 0.68-acre lot with 27 parking spaces. The property benefits from a strong 14.2-year remaining lease term (expiring 01/31/2039) with a highly credit-rated tenant, Chipotle Mexican Grill, Inc. The absolute NNN lease features a 5.00% cap rate and a substantial net operating income (NOI) of $153,450. Rent increases are built in, with a 10% bump every five years. The lease includes four 5-year renewal options, providing long-term stability and predictable income growth. This single-tenant property is strategically located on a hard corner intersection of US Hwy 98 and Van Ave, a high-traffic area with visibility and proximity to other major retailers including Target, Chick-fil-A, and Starbucks. The property includes a drive-thru ("Chipotlane"), enhancing operational efficiency and revenue potential. The building features high-quality materials and finishes. This is a rare opportunity to acquire a high-performing, nationally branded fast-casual restaurant with significant long-term growth potential.
Location Insight
- City
- Daphne
- County
- Baldwin
- State
- Alabama
- Latitude
- 30.5975
- Longitude
- -87.899
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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