SRS Real Estate Partners has completed the $4.7 million sale of a newly constructed Chipotle Mexican Grill property located at 1491 Emerson Drive NE in Palm Bay, FL.
SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, a Florida-based retail developer. The buyer, a San Francisco-based private investor who was in a 1031 exchange, was represented by Jeff Gates, Senior Vice President with SRS.
The 2,500-square-foot freestanding restaurant, built in 2025, is situated on 1.04 acres and features a corporate-guaranteed, absolute triple-net (NNN) lease with a 15-year initial term, scheduled rent increases, and options to extend. The lease structure provides the buyer with a passive, management-free investment backed by one of the nation’s most successful fast-casual restaurant brands.
“Chipotle’s strong corporate guarantee, combined with its prime location in a dense and growing residential neighborhood, make this a particularly attractive long-term investment,” said Nutt. “Palm Bay continues to expand at an annual growth rate of 2.3%, ensuring a steady, consistent consumer base from which this property is poised to benefit for years to come.”
The property is strategically positioned at a signalized intersection of Emerson Drive NE and Malabar Road SE, just 1.2 miles west of Interstate 95. The location benefits from excellent visibility, strong traffic counts, and a robust surrounding retail mix that includes Publix, Lowe’s, and Walmart Supercenter, among other national retailers. More than 159,000 residents live within a five-mile radius, creating a dense, built-in customer base for the restaurant.
This year, SRS Capital Markets has completed more than $2.2 billion in deal volume comprised of more than 650 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.