Property Attributes
- MLS#PABK2041888
- TypeCommercial
- CountyBERKS
- CityDouglassville
- AreaAmity Twp
- Zip19518
- StyleRestaurant/Bar
- Year Built1999
- Taxes$ 27625
- Price$ 2,636,364
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage5468
- Lot Size2.33 Acres
Data Source:
Bright MLS
Property Description
15 Maplewood Drive is a opportunity to purchase a Net Leased Investment property with a long term lease by Chipotle. Chipotle is currently completing their construction and is scheduling to open in June. Investment Highlights- New 15-Year Lease with 10% Increases Every 5 Years Enhanced Value in Oversized 2.33-Acre Parcel with Chipotlane Drive-Thru Strong Corporate, Investment Grade Retailer (NYSE: CMG) Signaled Corner, High Traffic Location to 37,638 VPD High Placer.ai Counts from Neighboring Uses Industry Leader with 3,000+ Locations and $7.5B in Revenue New 15-Year Corporate Lease - The Tenant, Chipotle Mexican Grill, Inc., is subject to a new 15-year lease to commence in Summer 2024. The corporate lease features 10 percent rental increases every five years during the base term and option periods, providing an excellent hedge against inflation. Chipotle will operate in a 5,468-square-foot store, with 3,100 square-feet on the ground floor. There is a 2,200-square-foot lower level but it will not be used by the tenant. The site will also feature a "Chipotlane" modernized drive-thru. A longtime leader and innovator in the food industry, Chipotle is publicly traded on the New York Stock Exchange under the ticker NYSE: CMG. Oversized 2.33-Acre Parcel The Tenant occupies a 2.33-acre parcel which is significantly larger than typical for Chipotle. On average, Chipotle locations occupy between 0.50-1.0-acres. This enhances the security of the investment by offering long-term flexibility. The developer completed various layout configurations for this parcel including two pad buildings as well as a strip center, but elected for the faster and less capital intensive option of retrofitting this former bank branch. The buyer will inherit this long-term upside to maximize the lots area should the tenant vacate. Prominent, High Traffic Location - Chipotle is prominently located along Maplewood Drive with fully signalized access between the east and westbound lanes of Route 422. Route 422 is the areas primary route, averaging 37,638 vehicles per day. The property is at the center of the Douglassville retail node. *Owners are PA Licensed Real Estate Agents Please Contact Listing Agent for more information,
Price History | |
---|---|
4/11/2024 | Listed $2,636,364 |
General Features
Sewer | Public Sewer |
---|---|
Heating | Central |
Cooling | Central A/C |
Possession | Immediate |
Zoning | HC |
Construction Materials | Other |
Year Built | 1999 |
Property SubType | Retail |
Tax Year | 2023 |
Percent Ownership | Fee Simple |
Cool Fuel | Other |
OwnerPays | None |
Business Type | Restaurant/Bar |
Accessibility | 2+ Access Exits |
County | BERKS |
Net Operating Income | 145000.00 |
Operating Expense | 0.00 |
New Construction | No |
Property Type | Commercial Sale |
Water Access Y/N | No |
Property Use | Investment |
Status | ACTIVE |
Directions | On the corner of Route 422 and Maplewood Dr. |
ModificationTimestamp | 2024-05-18T03:35:26 |
City | DOUGLASSVILLE |
Buyer Agent Compensation | 1.75 |
MLS Area | Amity Twp (10224) |
Lot Size Square Feet | 101494.00 |
Tax Assessed Value | 632100.0 |
Waterfront Y/N | No |
Street Name | MAPLEWOOD |
Tax Annual Amount | 27625.0 |
Property Condition | Excellent |
Price Per Sq Ft Total | 484.98 |
Vacation Rental Y/N | No |
Days on Market | 38 |
Standard Status | Active |
Year Built Source | Estimated |
Tax Lot | 5242 |
Total Actual Rent | 145000.00 |
Cap Rate | 5.50 |
Buyer Agent Compensation Type | % Of Gross |
Interior Features
Heating Fuel | Central |
---|---|
Hot Water | Other |
Heating Y/N | Yes |
Street Suffix | DRIVE |
Central Air Y/N | Yes |
Exterior Features
Water Source | Public |
---|---|
Total Parking Spaces | 29 |
Type of Parking | Parking Lot |
Land Use Code | 4240 |
Traffic Count | Greater than 30000 |
Water View Y/N | No |
Building Area Total | 5436.00 |
Lot Dimensions | 0.00 x 0.00 |
Lot Size Acres | 2.33 |
Lot Size Units | Square Feet |
Lot Size Source | Assessor |
Land Assessed Value | 176500.00 |
Navigable Water Y/N | No |
Water Oriented Y/N | No |
LotDimensionsSource | Assessor |
Car Parking Spaces | 29 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool