Chipotle 545 N State Rt 17 2,400 SF Retail Building Paramus, NJ 07652 $6,909,804 CAD ($2,879.09 CAD/SF) 5% Cap Rate

Located at 545 NJ-17 in Paramus, this Chipotle benefits from 137,000+ average annual daily traffic (AADT), ensuring high visibility. The site is an outparcel to Hobby Lobby and proximate to Westfield Garden State Plaza, one of NJ’s largest malls with 2 million SF of retail space. Its position along a major retail artery in the NYC MSA drives consistent customer volume.The property operates under a NNN lease with Chipotle Mexican Grill of Colorado, LLC, commencing June 29, 2020, and expiring June 29, 2035. The tenant is responsible for payment of all taxes, insurance, and maintenance, with landlord common area responsibilities reimbursed, according to the lease, creating a hands-off investment. Four (4) five-year renewal options extend potential occupancy to 2055, with rents escalating from $247,500 to $362,365 by Option 3.Annual rent starts at $247,500 (5.00% cap rate), increasing 10% every five years to $272,250 in 2030 and $299,475 in 2035 during the primary term. Option periods continue this trend, reaching $329,422 (Option 2) and $362,365 (Option 3), delivering a 7.32% return by 2050. This predictable escalation secures inflation-resistant cash flow for investors. The site serves a five-mile population of 402,709 (2024), with a median household income of $120,954, projected to grow 13.9% to $137,730 by 2029. Within three miles, the average household income reaches $217,840, among the highest in the data set, supporting Chipotle’s premium fast casual model. The one-mile radius shows a 3.14 average household size, indicating a family-oriented customer base. Built in 2020, this 2,400 SF Chipotle features contemporary design and operational enhancements tailored to the brand’s specifications. The 1.15-acre lot provides sufficient space for parking and efficient customer flow, critical for a high-volume QSR. Its recent construction reduces nearterm capital expenditure risks, enhancing long-term value. Adjacent to Hobby Lobby and near major draws like Westfield Garden State Plaza (20 million annual visitors), the property leverages a dense retail ecosystem. National chains such as Whole Foods, Target, and Home Depot within one mile amplify traffic and consumer spending. The NYC MSA location ensures exposure to one of the world’s most dynamic economic markets.