106 Northside Dr Bennington, VT 05201
- Retail properties
- 2,325 SF
- 1.10 lot acres
Current Use by Public Records
- Retail properties
Property Details for 106 Northside Dr
- Year built
- 2024
- Lot size
- 1.10 lot acres
- Property size
- 2,325 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a newly constructed, 2,325-square-foot Chipotle restaurant situated on a 1.1-acre lot at 106 Northside Drive, Bennington, Vermont, 05201. The property boasts a prime location within a thriving retail corridor alongside national retailers such as Walmart, Home Depot, and Hannaford, ensuring high visibility and consistent traffic. The building, completed in 2024, features a modern design including a drive-thru ("Chipotlane"). The property is offered as a Net Lease (NN) with a credit-rated, corporate-guaranteed tenant, Chipotle, under a 15-year lease commencing August 31, 2024, and expiring October 30, 2039, with four 5-year renewal options. The lease includes a 10% rent increase every five years, providing significant long-term growth potential. The current annual net operating income (NOI) is $164,000, resulting in a 5.15% cap rate. The property includes 24 parking spaces and benefits from excellent local demographics. This is a stabilized investment with minimal landlord responsibilities (limited to roof and structure), offering a secure and passive income stream. The property is 100% occupied and features a single unit. This is an ideal opportunity for a 1031 exchange.
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
- Bennington
- County
- Bennington
- State
- Vermont
- Longitude
- -73.2036
- Latitude
- 42.8949
