1003 Vlg Ctr Dr, Tarentum, PA 15084-3840

This exceptional investment opportunity presents a fee-simple ownership of a newly constructed (2023), 2,496 square-foot Chipotle restaurant situated on a 0.66-acre outparcel lot in Tarentum, Pennsylvania. The property boasts a 15-year net lease with two 5-year and one 4-year options, commencing September 27, 2023, and featuring a 10% rent increase every five years. The lease is backed by a corporate guarantee from Chipotle Mexican Grill, Inc. (NYSE: CMG), a financially strong tenant with significant market presence. This high-performing location, ranking within the top 30% nationally and top 3 within a 15-mile radius, benefits from its strategic placement within the Village at Pittsburgh Mills shopping center, a major retail destination attracting 5.6 million annual visitors. The property is conveniently located near major roadways, including Route 28, and enjoys high visibility due to its proximity to other prominent retailers such as Lowe's, Walmart, Sam's Club, and more. The building features a "Chipotlane" drive-thru, catering to the growing demand for digital orders. The property's minimal landlord responsibilities are limited to roof and structure maintenance, further enhancing its investment appeal. The asking price is $2,983,000, representing a 5.25% cap rate and a price per square foot of $1,195.11. The current annual net operating income (NOI) is $156,624. The building includes an outdoor seating area. The Duro-Last PVC roof carries a 20-year "no dollar limit" warranty.