Shake Shack | New 15yr Corp Abs NNN | DrThru | 911 Jefferson Rd
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Shake Shack | New 15yr Corp Abs NNN | DrThru 911 Jefferson Rd
3,500 SF Retail Building Rochester, NY 14623 $5,100,000 ($1,457/SF) 5% Cap Rate
Investment Highlights
- Brand New 15-Year Lease | Scheduled Rental Increases |Options To Extend | Corporate Guaranty | Established Brand
- Signalized, Hard Corner Intersection | Hobby Lobby Outparcel | Market Square/South Town Plaza/The Marketplace Mall | I-390
- Dense Demographics 5-Mile Trade Area | Henrietta - Monroe County
- Absolute NNN Ground Lease | Leased Fee Ownership | Zero Landlord Responsibilities
- Additional New Shake Shack Locations in Greece and Dewitt Can Be Purchased as a Portfolio (Contact Broker For Details)
Executive Summary
• The tenant, Shake Shack, recently signed a brand new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years and at the beginning of each option, generating NOI and providing a hedge against inflation
• Shake Shack recently crossed its 500th restaurant globally and announced Q3 2023 revenue growth of 21%, in-store sales growth of 9%, and average weekly sales hit $74,000, annualizing to $3.9 million average unit sales
• The lease features 10% rental increases every 5 years and at the beginning of each option, generating NOI and providing a hedge against inflation
• Shake Shack recently crossed its 500th restaurant globally and announced Q3 2023 revenue growth of 21%, in-store sales growth of 9%, and average weekly sales hit $74,000, annualizing to $3.9 million average unit sales
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,500 SF
Building Class
C
Year Built
2024
Price
$5,100,000
Price Per SF
$1,457
Cap Rate
5%
NOI
$255,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.13 AC
Zoning
Commercial
Parking
38 Spaces (10.86 Spaces per 1,000 SF Leased)
Frontage
114 FT on Jefferson Rd
Amenities
- Corner Lot
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Shake Shack
- Accommodation and Food Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Shake Shack | Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 263200-162-090-0001-004-000 | Improvements Assessment | $352,000 |
| Land Assessment | $313,000 | Total Assessment | $665,000 |
PROPERTY TAXES
Parcel Number
263200-162-090-0001-004-000
Land Assessment
$313,000
Improvements Assessment
$352,000
Total Assessment
$665,000
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Shake Shack | New 15yr Corp Abs NNN | DrThru | 911 Jefferson Rd
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