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Views: 238 DOM: 286 Updated: 10.14.24 Posted: 01.27.24 Status: Active

Summary

Price $5,100,000
Built/Renov 2024
Tenant Shake Shack (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 3,500
Lease Start 06-01-2024
#Units 518
Price/SF $1,457.14
Expiration 06-01-2039
Tenant Type Fast Casual/Rest.
NOI $255,000
R. Term 14.6
Ownership Ground Lease
Rent/SF $72.86
Increases 10.0%/5/yrs
Pop 5Mi 173,423
Lot/AC 1.13
Options 4/5yrs/10%
AHHI 5Mi $95,820

Lease Highlights

  • Brand-new 2024 construction
  • Brand new 14+ year ground lease with 4 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Shake Shack is conveniently located at the signalized, hard corner intersection of W. Jefferson Road and Clay Road averaging 44,000+ vehicles passing by daily. W. Jefferson Road is the main retail thoroughfare with several retail developments surrounding the subject property such as Market Square, South Town Plaza, The Marketplace Mall, and more. The site is an outparcel to a newly built Hobby...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Shake Shack Inc. (NYSE: SHAK) is an American fast casual restaurant chain. Shake Shack serves modern and elevated versions of American classics using only premium ingredients, including...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,117 50,810 173,042
2023 Total Population : 4,088 50,863 173,423
2023 Employed Civilian Pop : 2,080 22,907 85,084
2023 Total Businesses : 814 3,444 8,889
2023 Average Household Income : $ 69,727 $ 83,003 $ 95,820
2023 Total Consumer Spending : $ 127 M $ 1424 M $ 6161 M
2023 Median Age : 35 32 35
2023 Total Households : 2,084 19,768 73,966
2023 Pop Age 25+: Bachelor's Degree : 936 8,443 29,587
2023 Average Home Value : $ 199,171 $ 213,485 $ 254,034
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Jefferson Rd Clay Rd 2011 30,238 0.04 mi
Jefferson Road 2018 28,972 0.22 mi
Jefferson Road 2018 27,362 0.30 mi
Mushroom Blvd 2021 10,991 0.33 mi
Antoinette Dr 2021 5,372 0.44 mi
East Henrietta Road 2018 16,853 0.45 mi
East Henrietta Road 2018 19,399 0.45 mi
I 390 Strasenburgh Dr 2021 58,982 0.46 mi
E Henrietta Rd Jefferson Rd 2008 24,043 0.48 mi
Antoinette Dr 2021 4,676 0.49 mi

Listing Broker

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