545 Nj-17Paramus, NJ 07652

Property Details for 545 Nj-17

Year built

2020

Lot size

1.15 AC

Property size (Sq ft)

2,400 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a 2,400 square foot Chipotle restaurant located at 545 NJ-17, Paramus, NJ 07652. The property, built in 2020, sits on a 1.15-acre lot and boasts a 100% occupancy rate with a corporate-guaranteed, net lease. The current lease, commencing June 30, 2020, and expiring June 30, 2035, has a remaining term of 10.6 years, including three 5-year renewal options. Rent increases by 10% every five years. The property generates a strong NOI of $247,500, representing a 5.00% cap rate on the $4,950,000 asking price. This top-performing location, featuring a double drive-thru "Chipotlane," consistently ranks in the top 10% of all Chipotle locations nationwide, with over 217,300 visits in the past 12 months and total sales (TTM) exceeding $4,144,838. The property benefits from its strategic outparcel location within a high-performing, fully-leased shopping center anchored by Hobby Lobby and Marshalls, enjoying high visibility to over 136,350 vehicles daily on NJ-17. The surrounding area includes major shopping destinations like Westfield Garden State Plaza, Bergen Town Center, and Paramus Park, attracting over 27 million shoppers annually. The site is also situated within a major medical hub and benefits from a highly affluent demographic. This is a truly exceptional opportunity to acquire a trophy asset in a premier shopping and entertainment district.

Location Insight

City

Paramus

County

Bergen

State

New Jersey

Latitude

40.9571

Longitude

-74.075

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