4001 Lafountain St Kokomo, IN 46902
- Retail properties
- 2,325 SF
- 0.83 lot acres
Current Use by Public Records
- Retail properties
Property Details for 4001 Lafountain St
- Year built
- 2024
- Lot size
- 0.83 lot acres
- Property size
- 2,325 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a newly constructed (2024), 2,325 square foot Chipotle restaurant located at 4001 S Lafountain St, Kokomo, IN 46902. The property sits on a 0.83-acre lot and benefits from an absolute NNN lease with a corporate guarantee from Chipotle Mexican Grill, a Fortune 500 company. The lease, expiring September 30, 2039, has a remaining term of approximately 14.9 years and includes a 10% rent increase every five years, ensuring consistent income growth. The property boasts a strong location in a high-traffic area anchored by Lowe's and Home Depot, with excellent visibility at a signalized intersection. The building features a high-capacity drive-thru, catering to the convenience of modern consumers. With a Net Operating Income (NOI) of $166,725 and a 5.50% cap rate, this single-tenant, Class A property offers a compelling return on investment. The site's strong demographics, with over 70,000 residents within a 5-mile radius, further enhance its appeal. This is a truly hands-off investment opportunity with a renowned tenant and built-in growth potential. The property's strategic location and strong tenant covenant make it an ideal addition to any portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kokomo
- County
- Howard
- State
- Indiana
- Longitude
- -86.1272
- Latitude
- 40.439
