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2511 Chester Blvd Richmond, IN 47374

  • Retail properties
  • 2,350 SF
  • 1.07 lot acres
OFF-MARKET
Value Estimation
Location Intelligence

Current Use by Public Records

  • Chipotle Mexican Grill / Mexican Restaurant
  • Chipotle / Mexican Restaurant

Property Details for 2511 Chester Blvd

Year built
2024
Lot size
1.07 lot acres
Property size
2,350 SF
Property type
Retail properties

Description

This exceptional investment opportunity presents a fee-simple interest in a brand-new, 2,350 square-foot Chipotle restaurant located at 2511 Chester Boulevard in Richmond, Indiana. Built in 2024, this single-tenant property boasts a strong 15-year net lease with a corporate guarantee from Chipotle, the second-largest Mexican restaurant chain globally. The lease includes four, five-year renewal options and attractive 10% rent increases every five years, ensuring consistent income growth. The property benefits from a prime location as an outparcel to a high-traffic Meijer grocery store, attracting over 2 million annual visits and situated within a 30-mile radius with no other Meijer locations. Its visibility is further enhanced by frontage along Chester Boulevard, experiencing over 16,000 vehicles daily, and proximity to Interstate 70 (38,000 VPD). The property's strategic location also benefits from its adjacency to Indiana University East, Ivy Tech Community College, and Purdue Polytechnic Richmond (over 4,940 students) and Reid Health, a 223-bed regional medical center employing over 3,500 people. The property sits on a 1.07-acre lot and offers a compelling 5.50% cap rate with a current NOI of $158,100 and an asking price of $2,875,000 ($1,223.40/sq ft). This is a rare opportunity to acquire a high-performing, low-maintenance asset with significant long-term growth potential in a thriving market. The property's strong tenant, favorable lease terms, and strategic location make it an ideal addition to any investment portfolio.

Value Estimation

Powered by Realmo proprietary methodology Last update: July 3, 2025
  • CAP approach

  • Comparable approach

  • Alternative Use

Location Insight

  • Map
  • Local Demand
City
Richmond
County
Wayne
State
Indiana
Longitude
-84.8878
Latitude
39.8692
More about this property
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