1219 Burkemont Ave - Fast Food FOR SALE


Morganton, NC 28655
$3,400,000 USD
510-289-1166
1219 Burkemont Ave, Morganton, NC for Sale
$3,400,000 USD
Fast Food - FOR SALE
1/3
null | 5% Cap Rate

1219 Burkemont Ave
Morganton, NC 28655


HIGHLIGHTS

  • 15-Year Corporate Absolute NNN Lease to Chipotle (NYSE: CMG)
  • No Landlord Maintenance Responsibilities
  • 10% Rental Escalations throughout Primary Term
  • Complete Renovation in 2024 with "Chipotlane" Drive-Thru & Outdoor Patio
  • 1st Chipotlane Location in Burke County
  • Approximately 1 Hour from Charlotte and Asheville

OVERVIEW

The subject property is prominently located with excellent access and visibility along Burkemont Avenue (22,237 AADT) right off of Interstate 40 (46,000 AADT). The property includes a Chipotlane drive-thru, which average 15% higher sales than the traditional Chipotle restaurant. The site benefits from a total daytime population of 67,221 within a 10-mile radius. The average household income is $83,564 within 10 miles of the site and the average home value is $304,150 within 3 miles of the site. The site benefits from a prominent retail location in close proximity to shopping centers, employers, and major retail tenants. The site offers unique opportunities shaped by the surrounding area’s growth trajectory, proximity to high-GDP urban centers, and affordability relative to larger markets. UNC Health Blue Ridge (184 beds) is 3 miles from the site. The site is also in close proximity to numerous schools including Western Piedmont Community College (with a total enrollment of 8,874), Freedom High School, Liberty Middle School, NC School for the Deaf K-12, and NC School of Science and Math. Morganton, North Carolina serves as the county seat of Burke County within the Hickory-Lenoir-Morganton Metropolitan Statistical Area (population 370,000). Positioned along I-40, Morganton is well-suited for industrial and logistics properties, supporting the expansion of manufacturing and distribution facilities with stable long-term leasing potential. Morganton’s strategic location, affordable entry costs, and increasing local demand make it an attractive location for retail, industrial, hospitality, and mixed-use developments. In Association with ParaSell, Inc. | A Licensed North Carolina Broker #C32060

FOR SALE DETAILS

PRICE

$3,400,000 USD

PRICE/SF

$1,100 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chipotle

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

48

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,590 SF

ZONING

R-3

APN/PARCEL ID

44773

ASK ABOUT THIS PROPERTY

Putnam DailyFisher James CapitalMore Info
510-289-1166

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Putnam DailyFisher James CapitalMore Info
510-289-1166

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.