18800 70Th Ave Maple Grove, MN 55311

Property Details for 18800 70Th Ave

Year built

2024

Lot size

0.84 lot acres

Property type

Retail properties

Description

This exceptional investment opportunity presents a brand-new, single-tenant Chipotle fast-food restaurant in Maple Grove, Minnesota. Located within the thriving New Market at Rush Creek mixed-use development, this 2,371 square foot property sits on a 0.84-acre lot and boasts a 20-year NNN lease commencing December 17, 2024, and expiring December 31, 2044. The lease includes four 5-year renewal options, each with a 10% rent increase. The current annual net operating income (NOI) is $165,000, representing a 5.10% cap rate on the $3,235,000 asking price. This is a rare opportunity, as only three comparable 20-year Chipotle leases are currently on the market. The property benefits from a strong location adjacent to a high-volume Hy-Vee grocery store and other complementary businesses, including a car wash, credit union, daycare, and assisted living facility. Maple Grove is experiencing significant population growth, projected to increase by over 20,000 residents by 2040. The area boasts a high average household income, further enhancing the investment's potential. Chipotle's corporate guarantee (NYSE: CMG) and impressive recent financial performance, including a 13% year-over-year revenue increase and significant new store openings, provide exceptional stability and growth prospects. The unique lease structure, where Chipotle is responsible for property maintenance including the roof, makes this an ideal passive investment. This property offers a compelling combination of strong tenant, prime location, and favorable lease terms, making it an attractive addition to any portfolio. The property's APN is 3011922320002.

Location Insight

City

Maple Grove

County

Hennepin

State

Minnesota

Longitude

-93.5191

Latitude

45.0829