Shake Shack (GL)

3734 W Dublin Granville Rd, Columbus, OH 43235

$4,532,000

Cap Rate 6.00%

$4,989,000

Cap Rate 5.45%

DOM: 358 Updated: 02.29.24 Posted: 12.14.22 Status: Sold 12.08.23

Summary

Price $4,532,000 $4,989,000	Built/Renov 2022	Tenant Shake Shack (GL)
Cap Rate 6.00% 5.45%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,225	Lease Start 12-01-2022	#Units 450
Price/SF $1,405.27 $1,546.98	Expiration 12-01-2037	Tenant Type Fast Casual/Rest.
NOI $271,892	R. Term 12.6	Ownership Ground Lease
Rent/SF $84.31	Increases 10.0%/5/yrs	Pop 5Mi 235,260
Lot/AC 0.93	Options 3/5yrs/10%	AHHI 5Mi $124,531

Bob Moorhead

Secure Net Lease

Contact

Lease Highlights

New construction 2022
Shake Shack recently signed a brand-new lease with 3 (5-year) options to renew
Ground lease features 10% rental increases every 5 years in primary term and option periods
Location features a double drive-thru lane
Shake Shack (NYSE: SHAK) is a publicly traded company

Location Description

This newly constructed Shake Shack is positioned with excellent access and visibility along Dublin Granville Rd/ Hwy 161 (19,300 VPD). The subject property is located in front of the Sun Center, a 417,000 SF destination lifestyle center that includes many other quality tenants, such as Whole Foods, REI, Nordstrom rack, ULTA, PSA Superstore, Kirkland's, Bed Bath & Beyond, and many more. The...

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Key Features

New construction
New prototype
Major thoroughfare
Dense retail corridor
Dense 200M+ pop 5 mi
Affluent AHHI $100K 5 Mi
Brand new lease
Absolute NNN
Publicly traded company
Over 100 Units backed

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Links

Shake Shack Wikipedia Shake Shack Wikipedia Columbus, Ohio Zip Code 43235 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Shake Shack
Guarantor:Corporate
Company:Shake Shack
# 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....

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	13,016	96,101	238,517
2023 Total Population :	12,836	95,815	234,992
2023 Employed Civilian Pop :	7,601	55,920	132,767
2023 Total Businesses :	748	4,157	10,070
2023 Average Household Income :	$ 107,107	$ 126,582	$ 139,327
2023 Total Consumer Spending :	$ 595 M	$ 4443 M	$ 11684 M
2023 Median Age :	34	37	39
2023 Total Households :	6,399	40,829	98,351
2023 Pop Age 25+: Bachelor's Degree :	3,583	25,757	63,878
2023 Average Home Value :	$ 319,408	$ 356,429	$ 390,815

*ESRI data is presented for informational purposes only

Listing Broker

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