7406 Lee Hwy Fairlawn, VA 24141-8502

Property Details for 7406 Lee Hwy

Lot size

0.84 lot acres

Zone code

CM1

Property type

Commercial real estate

APN

039-013-0000-0002

APU

3901300000002

Description

This exceptional investment opportunity presents a 2,742 square foot Chipotle restaurant located at 7406 Lee Hwy, Radford, VA 24141. The property boasts a long-term, Net Lease (NNN) agreement with Chipotle Mexican Grill, Inc. (NYSE: CMG), a Fortune 500 company, with 13.1 years remaining on the lease, expiring December 31, 2037. The lease commenced February 28, 2022, and includes four 5-year renewal options. Rent increases of 10% every five years provide a strong hedge against inflation. The property sits on a 0.75-acre lot and enjoys 100% occupancy. The current Net Operating Income (NOI) is $127,000, yielding a pro-forma cap rate of 5.75% (based on a rent increase in three years). This prime location benefits from high visibility on Lee Highway, a major thoroughfare with over 27,000 vehicles daily. Its proximity to Radford University (8,000 students) and major retailers like Kroger, Walmart, and Lowe's ensures consistent high traffic and customer volume. The corporate guarantee from Chipotle provides significant investment security. This is a rare opportunity to acquire a well-established, high-performing asset in a thriving market. The asking price is $2,419,048.

Location Insight

City

Fairlawn

County

Pulaski

State

Virginia

Longitude

-80.5829

Latitude

37.1441

CBSA code

13980

CBSA name

BLACKSBURG-CHRISTIANSBURG-RADFORD, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments