12035 Halsey St Portland, OR 97220-2040

Property Details for 12035 Halsey St

Year built

1972

Lot size

0.58 lot acres

Property size

2,376 SF

Zone code

CN2

Property type

Turn key restaurants

APN

1N2E27DD 05100

APU

1N2E27DD05100

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,376 square-foot Chipotle restaurant located at 12035 NE Halsey St, Portland, Oregon, 97220. Built in 2024, this single-tenant property sits on a 0.58-acre lot and boasts 28 parking spaces, including a convenient Chipotlane drive-thru. The property benefits from a high-traffic location on NE Halsey St, a major commuter route with over 50,000 vehicles per day, and is surrounded by other national retailers such as WinCo Foods, Starbucks, and Wells Fargo. The absolute NNN lease with Chipotle Mexican Grill, Inc., features a corporate guarantee and a remaining term of 14.8 years, expiring August 31, 2039. The lease commenced September 1, 2024, and includes 10% rent bumps every five years, providing a strong hedge against inflation. The asking price is $3,463,158, representing a 4.75% cap rate and a price per square foot of $1,457.56. The property generates a net operating income (NOI) of $164,500 annually. The lease includes four 5-year renewal options. This is a rare opportunity to acquire a depreciable asset with a credit-rated, corporate-guaranteed tenant and minimal landlord responsibilities.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.539

Latitude

45.5339

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments