1681 Galena AveDixon, IL 61021

For Sale
$2,562,000

High-yield, corporate-guaranteed Chipotle

Overview

Added:
Dec 11, 2024
Days on market:
93
Exceptional investment opportunity: a brand-new, 2024-built Chipotle restaurant in Dixon, Illinois, is available for purchase. This 2,350 square foot, Class A property sits on a 0.75-acre lot and boasts a 15-year absolute NNN lease with a credit-rated corporate guarantor, Chipotle Mexican Grill, Inc. The lease features a 5.25% cap rate and a strong NOI of $134,500, with built-in rent bumps of 10% every five years, ensuring consistent income growth. The property is strategically located within the Dixon Gateway Development, a thriving commercial hub featuring national tenants such as Walmart, Marriott, Aldi, and Starbucks, ensuring high visibility and traffic. The property benefits from a modern "Chipotlane" drive-thru, further enhancing its appeal and potential for increased sales. The lease is an absolute NNN lease, meaning the tenant is responsible for all property expenses, providing a truly passive investment opportunity for the owner. With four 5-year renewal options, this investment offers long-term stability and significant return potential. The property's prime location on South Galena Avenue (IL Route 26) provides excellent access and visibility, with proximity to Interstate 88 offering significant regional exposure. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and a proven track record of success. The property's parcel number is 18-08-09-101-015.

Highlights

  • 15-year NNN lease with four 5-year options; 10% rent increases every five years; corporate guarantee from Chipotle Mexican Grill, Inc.
  • Absolute NNN lease; tenant responsible for all property expenses; hands-off passive investment.
  • Brand new 2024 construction; features a Chipotlane drive-thru.
  • 10% annual rent increases built into the lease for the base term and each option period.
  • Located in the Dixon Gateway Development, alongside Walmart, Marriott, Aldi, Starbucks, and other national tenants.
  • High visibility location on South Galena Avenue (IL Route 26), with excellent Interstate 88 access.

Property Details for 1681 Galena Ave

Property type
Other retail properties, Restaurants
Square Feet
2,350 SF
Class
A
Year Built
2024
Lot Size (sq. ft)
32,670 SF

Location Insight

City
Dixon
County
Lee
State
Illinois
Latitude
41.82613334
Longitude
-89.47520078
1681 Galena Ave, Dixon, Illinois

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1681 Galena Ave
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