Chipotle, Chase Bank Property Trades For $7.2 Million In Brevard County

A two-tenant retail property featuring Chipotle Mexican Grill and Chase Bank has changed ownership in Brevard County for more than $7.2 million.

The property, located at 821 and 855 E. Eau Gallie Boulevard in the Melbourne area, changed hands June 30, according to county records. The approximately 1.89-acre site includes two freestanding buildings totaling 5,775 square feet.

Chipotle occupies a roughly 2,350-square-foot restaurant equipped with the chain’s digital-order pickup lane. The restaurant opened in June 2025. Chase Bank occupies a newly constructed 3,425-square-foot branch with drive-thru service, officially opening last month.

Both companies signed 15-year leases backed by their respective corporate entities. The leases also include scheduled 10% rent increases every five years and four five-year renewal options.

The property was marketed as a net-leased investment with annual net operating income of approximately $355,700. Atlantic Capital Partners offered the asset for sale at $7.73 million, based on a 4.6% capitalization rate.

The brokerage team included Patrick Wagor, Eric Suffoletto, Zack Hilgendorf, Nick Hilgendorf, Ben Olmstead and David Hoppe.

The Eau Gallie Boulevard property is positioned near the Ocean Springs Shopping Center, where nearby retailers include Walmart and Aldi. Marketing materials cited traffic of approximately 26,500 vehicles per day along the corridor and an average household income of $143,000 within three miles.

The transaction reflects ongoing demand for newer net-leased properties supported by investment-grade or nationally recognized tenants. These assets can appeal to buyers seeking predictable income, limited management responsibilities and contractual rent growth.

Sources: OBJ and Atlantic Capital Partners