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Chipotle | Lexington MSA 550 Bullion Blvd 2,325 SF Retail Building Winchester, KY 40391 $4,500,446 CAD ($1,935.68 CAD/SF) 5.15% Cap Rate
INVESTMENT HIGHLIGHTS
- Secured by a 15-year absolute NNN lease with Chipotle Mexican Grill, commencing July 15, 2025, with zero landlord responsibilities
- Chipotle, a Fortune 500 company, operates over 3,400 locations with $9.9 billion in 2023 revenue, offering investor stability
- Features 10% rental increases every five years, ensuring strong income growth
- Includes a “Chipotlane” drive-thru, enhancing convenience and aligning with modern fast-casual trends.
EXECUTIVE SUMMARY
Positioned at 550 Bullion Blvd, Winchester, KY, along Bypass Rd with 25,752 AADT, this site benefits from its placement between Walmart and Kroger-anchored centers. The property sees significant exposure from nearby retail traffic, including Starbucks and Taco Bell. Its proximity to KY1958 (20,942 AADT) further boosts accessibility.
Chipotle Mexican Grill of Colorado, LLC, under a corporate guaranty from Chipotle Mexican Grill, Inc., assumes all taxes, insurance, and maintenance costs, including roof and structure, for the 15-year term starting July 15, 2025. The lease features 10% rent escalations every five years, growing NOI from $166,000 to $200,860 by year 11. This structure offers investors a fully passive income stream with a 4.85% initial cap rate.
Chipotle, with over 3,400 locations and $9.9 billion in 2023 revenue, ranks on the Fortune 500 and is recognized on Fortune’s 2024 Most Admired Companies list. Within 5 miles, 3,088 adults (13%) purchased from Chipotle in the past 6 months, with an MPI of 76, indicating strong local demand. The tenant’s operational consistency and brand equity enhance investment reliability.
The site serves a 5-mile radius population of 30,429 (2024), projected to increase to 30,512 by 2029, with a median household income of $60,367, expected to rise to $69,105. Within 1 mile, the median income is $59,031 (2024), growing to $66,956 by 2029, reflecting economic improvement. This demographic strength supports sustained fast food spending, with 56.6% of adults using take-out/drive-thru services in the past 6 months (5-mile radius).
Completed in 2025, this 2,325 SF facility features Chipotle’s latest design, including a “Chipotlane” drive-thru for expedited service. The 0.80-acre site optimizes customer flow with dedicated parking and efficient layout. Its new build quality minimizes near-term capital expenditures, appealing to long-term investors.
Located 15 miles from downtown Lexington, the property taps into the Lexington-Fayette MSA’s 516,000+ population and $5.5 billion in annual consumer spending. Nearby schools like Strode Station Elementary (500+ students) and retail hubs like Kroger ensure consistent local traffic. The site’s position within Winchester’s retail core amplifies its draw as a dining destination
Chipotle Mexican Grill of Colorado, LLC, under a corporate guaranty from Chipotle Mexican Grill, Inc., assumes all taxes, insurance, and maintenance costs, including roof and structure, for the 15-year term starting July 15, 2025. The lease features 10% rent escalations every five years, growing NOI from $166,000 to $200,860 by year 11. This structure offers investors a fully passive income stream with a 4.85% initial cap rate.
Chipotle, with over 3,400 locations and $9.9 billion in 2023 revenue, ranks on the Fortune 500 and is recognized on Fortune’s 2024 Most Admired Companies list. Within 5 miles, 3,088 adults (13%) purchased from Chipotle in the past 6 months, with an MPI of 76, indicating strong local demand. The tenant’s operational consistency and brand equity enhance investment reliability.
The site serves a 5-mile radius population of 30,429 (2024), projected to increase to 30,512 by 2029, with a median household income of $60,367, expected to rise to $69,105. Within 1 mile, the median income is $59,031 (2024), growing to $66,956 by 2029, reflecting economic improvement. This demographic strength supports sustained fast food spending, with 56.6% of adults using take-out/drive-thru services in the past 6 months (5-mile radius).
Completed in 2025, this 2,325 SF facility features Chipotle’s latest design, including a “Chipotlane” drive-thru for expedited service. The 0.80-acre site optimizes customer flow with dedicated parking and efficient layout. Its new build quality minimizes near-term capital expenditures, appealing to long-term investors.
Located 15 miles from downtown Lexington, the property taps into the Lexington-Fayette MSA’s 516,000+ population and $5.5 billion in annual consumer spending. Nearby schools like Strode Station Elementary (500+ students) and retail hubs like Kroger ensure consistent local traffic. The site’s position within Winchester’s retail core amplifies its draw as a dining destination
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,325 SF
Building Class
C
Year Built
2025
Price
$4,500,446 CAD
Price Per SF
$1,935.68 CAD
Cap Rate
5.15%
NOI
$231,744 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
3.10 AC
Zoning
PD
Parking
33 Spaces (14.19 Spaces per 1,000 SF Leased)
Frontage
600’ on BULLION BLVD
AMENITIES
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 043-0000-00300 | Improvements Assessment | $0 CAD |
| Land Assessment | $705,500 CAD | Total Assessment | $705,500 CAD |
PROPERTY TAXES
Parcel Number
043-0000-00300
Land Assessment
$705,500 CAD
Improvements Assessment
$0 CAD
Total Assessment
$705,500 CAD
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Chipotle | Lexington MSA | 550 Bullion Blvd
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