FLAGSTAFF, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Chipotle Drive-Thru, a 2,400-square-foot net-leased property located in Flagstaff, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $3,256,000.
Chris Lind and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
Newly constructed in 2022 with the “Chipotlane” drive-thru concept, Chipotle is located at 4409 US-89 in Flagstaff, Arizona. This asset is part of Chipotle’s plans to outfit 60 percent of stores with a “Chipotlane.” Existing stores with a drive-thru are among the company’s most profitable locations. The subject property is easily accessible to 53,615 residents with a five-mile radius. Just half a mile off the I-40 freeway, a major thoroughfare connecting Northern Arizona, Chipotle Drive-Thru is visible to over 42,600 vehicles per day along the heavily trafficked U.S. Highway 89.