May 5, 2025 – Greg Moore of Horvath & Tremblay has successfully completed the sale of Chipotle in Richmond, Indiana. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,778,000.
Chipotle is located at 2511 Chester Boulevard in Richmond, Indiana. Chipotle occupies a 2,350 square foot building with a Chipotlane (Drive-Thru) on a 1.07-acre corner parcel of land. Chipotle has a new 15-Year Absolute NNN Lease with four (4), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option, providing the investor with an attractive increase in revenue and a hedge against inflation. Chipotle is situated along Chester Boulevard (US Route 27), the area’s primary commercial and commuter corridor. The Property enjoys outstanding visibility and frontage, is an outparcel to a Meijer Supermarket. Chipotle is seconds from Reid Health, an 800,000 square foot hospital, and is within walking distance of Indiana University East and Ivy Tech Community College, all of which drives traffic to the area. Chipotle is positioned on the north side of Richmond and is 0.25 miles from Interstate 70.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.