Chipotle NNN Properties
Absolute NNN · Baa3 / BBB- credit · 4.5–5.5% cap rate · $2.5M–$5.5M
Why Investors Buy Chipotle NNN Properties
Chipotle is the gold standard of fast-casual NNN investing — a Fortune 500 company with investment-grade credit, explosive same-store sales growth, and a driven customer base that visits multiple times per week. Corporate-guaranteed absolute NNN leases on new drive-thru 'Chipotlane' locations have become among the most sought-after assets in the NNN market.
Lease Structure
Brand Financials
Why Investors Choose Chipotle
- Investment-grade corporate guarantee from Chipotle (Baa3/BBB-, NYSE: CMG)
- Fastest-growing fast-casual brand in the US — consistent double-digit same-store sales growth
- New 'Chipotlane' drive-thru locations command premium cap rates and traffic
- 15–20 year absolute NNN with corporate backing — zero landlord obligations
- Brand built on premium ingredients and loyal Millennial/Gen Z demographic
- Institutional-grade asset with strong secondary buyer market
Key Risks to Underwrite
- Lowest cap rates in fast-casual (4.5–5.5%) — reflects premium credit quality
- Higher price points ($2.5M–$5.5M) require more exchange equity
- Food safety incidents in the past have shown brand vulnerability
Ideal Investor Profile
- High-net-worth investors seeking investment-grade fast-casual credit
- 1031 exchange buyers with $2.5M–$5.5M in exchange equity
- Investors building institutional-quality NNN portfolios
Is Chipotle Right for Your 1031 Exchange?
Chipotle NNN properties are a popular 1031 exchange destination for investors who want to eliminate active management while preserving their equity in a investment-grade corporate-guaranteed asset. With typical prices of $2.5M–$5.5M, these properties fit a wide range of exchange equity positions. The Absolute NNN structure means your 1031 replacement property comes with zero landlord obligations — ideal for investors who have sold multifamily, commercial, or other management-intensive assets and want truly passive income.
Compare Other NNN Tenants
Access Off-Market Chipotle Properties
We maintain an exclusive inventory of Chipotle NNN properties — many of which never appear on LoopNet or CoStar. Contact us to see what's available before it trades.