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Updated: 07.08.24 Posted: 08.06.23 Status: Sold

Summary

Price $5,731,000
Built/Renov 2023
Tenant Shake Shack (GL)
Cap Rate 5.15%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 3,380
Lease Start 08-01-2023
#Units 518
Price/SF $1,695.56
Expiration 01-01-2039
Tenant Type Fast Casual/Rest.
NOI $295,126
R. Term 13.8
Ownership Ground Lease
Rent/SF $87.32
Increases 10.0%/5/yrs
Pop 5Mi 226,853
Lot/AC 1.60
Options 2/5yrs/10%
AHHI 5Mi $141,014

Lease Highlights

  • Brand new 2023 construction
  • Shake Shack recently signed a brand new 16-year lease with 2 (5-year) options to extend
  • Lease features a 10% rental increase every 5 years throughout the initial term and at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Shake Shack Inc.(NYSE: SHAK)

Location Description

This newly constructed 3,380 square foot Shake Shack is situated on a 1.6 acre parcel along North Interstate 35 with access to 146,000 vehicles per day. The site benefits from its location within a dense retail corridor with neighboring national/credit tenants including Sprouts, Torchy’s Taco, Starbucks, KFC, Dairy Queen and many others. Additionally, the tenant benefits from being within...

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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 : 7,976 97,375 226,963
2023 Total Population : 8,186 96,408 220,330
2023 Employed Civilian Pop : 4,273 51,962 117,226
2023 Total Businesses : 1,040 3,778 6,209
2023 Average Household Income : $ 99,883 $ 113,898 $ 131,528
2023 Total Consumer Spending : $ 249 M $ 3555 M $ 8968 M
2023 Median Age : 34 34 35
2023 Total Households : 2,906 36,232 79,609
2023 Pop Age 25+: Bachelor's Degree : 1,360 18,264 47,379
2023 Average Home Value : $ 395,288 $ 391,473 $ 431,355
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
I- 35 Palm Valley Blvd 2013 146,863 0.09 mi
Round Rock Ave 2021 153,693 0.16 mi
TX 121 I- 35 Svc Rd 2020 148,992 0.16 mi
Chisholm Trl Sam Bass Rd 2010 6,060 0.17 mi
North Interstate 35 Paloma Dr 2021 22,251 0.18 mi
Chisholm Trail Rd Sam Bass Rd 2015 7,604 0.20 mi
Chisholm Trl Co Rd 173 2014 5,192 0.24 mi
W Bowman Rd Onion Creek Village Dr 2015 3,057 0.25 mi
Sam Bass Rd I- 35 Svc Rd 2010 19,800 0.28 mi
W Bowman Rd Onion Creek Village Dr 2010 3,300 0.30 mi

Listing Broker

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