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    Chipotle Corporate Lease Opportunity Title is generated by Realmo AI

    1961 14th Avenue SE, Albany, OR 97322

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    Corporate Chipotle lease with rental increases in top Oregon mall.

    Added:
    Nov 25, 2025
    Days on Market:
    177
    Last Refresh:
    Jan 22 at 8:44 pm

    Property Features for 1961 14th Avenue SE

    General Information

    Standard status
    Active

    Building Details

    Year Built
    2021

    We can help!

    Listing Contact
    John Andreini

    Listing agent John Andreini License #CalDRE #01440360

    Listing office ParaSell, Inc.

    Listing date Nov 25, 2025

    Source Cppcre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of ParaSell, Inc.

    HighLights

    • 10+ years remaining on corporate Chipotle lease with 10% rental increases every 5 years.
    • Located in Heritage Mall, a Target‑anchored shopping center ranking in the top 8% in Oregon for annual visits.
    • Chipotle is a Fortune 500 company with strong 2024 revenues of $11.3 billion, a 14.6% increase year‑over‑year.
    • Ideal positioning at the main entrance/exit of the mall.
    • Property built in 2021.
    • 20‑year roof materials warranty in place (~15 years remaining).

    Overview

    This property features a corporate Chipotle lease with over 10 years remaining. The lease includes 10% rental increases every 5 years throughout the base term and options. It is located at Heritage Mall, a shopping center with over 350,000 square feet, ranking in the top 8% of shopping centers in Oregon based on annual visits. The property benefits from its positioning at the main ingress/egress point of the mall, which is anchored by Target. A 20-year roof materials warranty is in place with approximately 15 years remaining. Chipotle's 2024 revenues totaled $11.3 billion, a 14.6% increase over the previous year. The company is ranked on the Fortune 500 and recognized on the 2024 list of Fortune’s Most Admired Companies.
    Location Intelligence

    Current Use by Public Records

    Chipotle Mexican Grill Take-out & Catering Plant Warehouse Garden Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Jacopetti's Catering — 910 Queen Ave SE, Albany, OR 97322
    • Krakelen - Wood Fired Pizza — 2200 Pacific Blvd SE, Albany, OR 97321

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Linn
    State
    Oregon
    Longitude
    -123.081
    Latitude
    44.6302

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    FAQs

    What type of property is this?
    Restaurant - Corporate Chipotle lease with rental increases in top Oregon mall.
    Where is this restaurant located?
    The property is located at 1961 14th Avenue SE Albany, OR.
    What are key features of this property?
    This property features: 10+ years remaining on corporate Chipotle lease with 10% rental increases every 5 years.; Located in Heritage Mall, a Target‑anchored shopping center ranking in the top 8% in Oregon for annual visits.; Chipotle is a Fortune 500 company with strong 2024 revenues of $11.3 billion, a 14.6% increase year‑over‑year.
    (415) 274-2715
    We can help!
    Listing Contact
    John Andreini
    Real Estate License ID: CalDRE #01440360
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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