Net-Leased Chipotle
2133 State St New Albany, IN 47150
2133 State St, New Albany, IN, 47150
$2,350,607
For Sale
$2,350,607
Newly constructed build-to-suit Chipotle with ample parking and pylon signage at a signalized intersection.
Property Size2,325 SF
Lot Size0.80 Acres
Price / SF$1,011
Days on Market112
Property Features for 2133 State St
General Information
- Standard status
- Active
- Size
- 2,325 SF
- Lot size
- 0.80 Acres
- Property subtype
- Restaurant
Listing agency
New York City Office
(212) 430-5291
Listed by
Jesse Limon · License #IN: RB14048415, NY: 10401271892
(212) 430-5291
Source
Marcusmillichap
Added: Apr 3 Updated: Jul 23 at 2:33AM Checked: Jul 23 at 2:33AM
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 New York City Office
Investment Insights
Based on property information with market context.
This newly constructed, build-to-suit Chipotle restaurant is offered for sale as a traditional net lease asset. The property includes a 15-year base term with just under 13 years remaining, along with 10% rental increases every five years. The lease also provides three additional five-year options. The site is positioned on a 0.8-acre lot and includes ample parking and pylon signage.
The restaurant is located at a signalized intersection and is designed for easy ingress and egress, supporting straightforward access for customers and delivery operations. The offering is described as requiring minimal landlord responsibility and warranties as part of the net lease structure.
The restaurant is located at a signalized intersection and is designed for easy ingress and egress, supporting straightforward access for customers and delivery operations. The offering is described as requiring minimal landlord responsibility and warranties as part of the net lease structure.
Key Highlights
- Newly constructed 2,325 SF build‑to‑suit Chipotle on a 0.8‑acre lot
- Traditional Chipotle net lease with minimal landlord responsibility and warranties
- 15‑year base term with just under 13 years remaining
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $163.2k | $70.20 |
| − Vacancy | −$6.4k | −$2.74 |
| EGI | $156.8k | $67.46 |
| − OpEx | −$39.2k | −$16.87 |
| NOI | $117.6k | $50.60 |
2,325 SF · lease $70.20/SF/yr · vacancy 3.90% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,637 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Chipotle Mexican Grill
Take-out & Catering
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Newly constructed build-to-suit Chipotle with ample parking and pylon signage at a signalized intersection.
Where is this conventional restaurant located?
The property is located at 2133 State St New Albany, IN.
What is the asking price?
The asking price for this property is $2,350,607.
What are key features of this property?
This property features: Newly constructed 2,325 SF build‑to‑suit Chipotle on a 0.8‑acre lot; Traditional Chipotle net lease with minimal landlord responsibility and warranties; 15‑year base term with just under 13 years remaining
