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    34712 Center Ridge Rd North Ridgeville, OH 44039

    Sponsored
    For Sale
    $2,369,287

    Brand new Chipotle, 15-year lease, high growth area.

    Property size:
    2,325 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents the fee simple ownership of a brand-new Chipotle Mexican Grill, Inc. (Nasdaq: CMG) restaurant located at 34712 Center Ridge Rd, North Ridgeville, OH 44039. The 2,325 square foot building, completed in 2023, sits on a 0.88-acre lot and boasts a drive-thru, a key feature for this popular QSR. The property benefits from a strong corporate lease with Chipotle, providing a 15-year term with over 14 years remaining. Rent increases by 10% every five years, starting in year six, ensuring consistent income growth. This location is strategically positioned as an outlot to a 55,000 square foot Marc's Grocery Store, benefiting from high daily traffic. The property is also conveniently located near North Ridgeville High School and other retail amenities. North Ridgeville itself is a thriving community, experiencing significant population and income growth in recent years, ranking as the 4th best place for homeownership in Ohio. The property features a transferrable roof warranty and the tenant maintains the parking lot, including landscaping and snow removal. This is a rare opportunity to acquire a fee simple interest in a high-performing, corporate-backed asset with a strong projected return, offering a 5.25% cap rate and a current NOI of $124,387. The asking price is $2,369,287.

    Property Features for 34712 Center Ridge Rd

    General Information

    Property type
    Restaurants
    Square Feet
    2,325 SF
    Lot Size
    38,333 SF

    Building Details

    Year Built
    2023
    Buildings
    1

    HighLights

    • Corporate lease guaranteed by Chipotle Mexican Grill, Inc. (Nasdaq: CMG).
    • Outlot to a 55,000 SF Marc's Grocery Store.
    • Tenant maintains parking lot, including landscaping and snow removal.
    • Transferable roof warranty.
    • 14+ years remaining on lease with 10% rent increases every 5 years.
    • Brand new building (2023) with Chipotle's newest prototype; 2,325 SF building on a 0.88‑acre lot with drive‑thru.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    North Ridgeville
    County
    Lorain
    State
    Ohio
    Longitude
    -82.0030639
    Latitude
    41.395484

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    FAQs

    What type of property is this?
    Restaurant - Brand new Chipotle, 15-year lease, high growth area.
    Where is this restaurant located?
    The property is located at 34712 Center Ridge Rd North Ridgeville, OH.
    What is the asking price?
    The asking price for this property is $2,369,287.
    What are key features of this property?
    This property features: Corporate lease guaranteed by Chipotle Mexican Grill, Inc. (Nasdaq: CMG).; Outlot to a 55,000 SF Marc's Grocery Store.; Tenant maintains parking lot, including landscaping and snow removal.
    Request Owner's contact information
    34712 Center Ridge Rd North Ridgeville, OH 44039
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    34712 Center Ridge Rd North Ridgeville, OH 44039
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