Shake Shack (GL)

1905 E Whitestone Blvd, Cedar Park, TX 78613

$5,000,000

Cap Rate 5.00%

Updated: 01.16.24 Posted: 08.03.23 Status: Sold

Summary

Price $5,000,000	Built/Renov 2023	Tenant Shake Shack (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 3,437	Lease Start 10-01-2023	#Units 450
Price/SF $1,454.76	Expiration 10-01-2038	Tenant Type Fast Casual/Rest.
NOI $250,000	R. Term 13.4	Ownership Ground Lease
Rent/SF $72.74	Increases 2.0%/5/yrs	Pop 5Mi 235,451
Lot/AC 1.42	Options 4/5yrs/2%	AHHI 5Mi $150,846

Bob Moorhead

Secure Net Lease

Contact

Lease Highlights

Brand new 2023 construction
Shake Shack recently signed a brand new 15-year lease with 4 (5-year) options to extend
Lease features 2% rental increases every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Shake Shack Inc. (NYSE: SHAK)

Location Description

This newly constructed Shake Shack is strategically located along East Whitestone Blvd (State Hwy 1431) seeing over 54,400 vehicles per day. The site benefits from its location along a dense retail corridor with neighboring national/credit tenants including Target, The Home Depot, Advance Auto Parts, Costco, Subway and many others. The 5-mile trade area is supported by over 235,450 residents...

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Key Features

New construction
New prototype
High traffic 50M+ VPD
Highway location
Top 100 MSA
Income tax free state
Brand new lease
Long 15+ yr lease
Corporate Guarantee
Publicly traded company

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Links

Shake Shack Wikipedia Shake Shack Wikipedia Cedar Park, Texas Zip Code 76103 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Shake Shack
Guarantor:Corp Traded
Company:Shake Shack Inc.
# Units:450
Stock: NYSE: SHAK

About Tenant

Shake Shack is an American fast casual restaurant chain based in New York City. It started out as a hot dog cart inside Madison Square Park in 2001, and its popularity steadily grew. In 2004, it...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,967	79,444	234,416
2023 Total Population :	7,001	75,914	224,961
2023 Employed Civilian Pop :	3,546	38,497	119,073
2023 Total Businesses :	563	2,455	6,830
2023 Average Household Income :	$ 129,061	$ 142,145	$ 144,722
2023 Total Consumer Spending :	$ 281 M	$ 3202 M	$ 10028 M
2023 Median Age :	34	35	36
2023 Total Households :	2,545	26,478	81,406
2023 Pop Age 25+: Bachelor's Degree :	1,742	16,917	54,650
2023 Average Home Value :	$ 479,188	$ 451,341	$ 462,820

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E Whitestone Blvd	Cottonwood Creek Trl	2010	35,863	0.28 mi
Cottonwood Creek Trail		2015	8,743	0.37 mi
Cottonwood Creek Trl	Medical Pkwy	2012	6,398	0.38 mi
Medical Pkwy	Cottonwood Creek Trl	2008	653	0.43 mi
East Whitestone Boulevard		2015	33,366	0.44 mi
Starwood Drive		2015	446	0.47 mi
Starwood Dr	E Whitestone Blvd	2010	510	0.48 mi
N Vista Ridge Blvd	E Whitestone Blvd	2012	7,177	0.51 mi
North Vista Ridge Boulevard		2020	6,582	0.56 mi
N Vista Ridge Blvd	Colonial Pkwy	2007	7,405	0.63 mi

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