Listed by Phoenix Commercial Advisors
$3,999,000
Shake Shack
Details
APN 102-33-522
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 3,600
Cap Rate 4.88%
NOI $195,000
Occupancy 100%
Tenancy Single
Brand/Tenant Shake Shack
Lease Type Absolute NNN
Lease Term 15
Remaining Term 15
Rent Bumps Yes
Year Built 2025
Buildings 1
Stories 1
Acreage 1.090
Investment Type Net Lease
Ground Lease No
New 15-year absolute NNN Shake Shack shadow anchored by Sprouts Farmers Market
Marketing description
Shake Shack | 4.88 Cap | 3,600 SF Building | Absolute NNN Lease
Location Description
Shake Shack is located along McDowell Road; situated on the north side; just east of 99th Avenue
Investment highlights
- New, long-term 15-year absolute NNN lease; landlord has ZERO responsibilities
- Brand-new freestanding building featuring rare drive-thru prototype—Shake Shack has ±39 drive-thru locations systemwide
- Outparcel to new high-profile shopping center anchored by Sprouts Farmers Market
- Most dominant West-Valley intersection and regional shopping destination with powerful co-tenancy at the intersection (Costco, Best Buy, Ross, Harkins Theatres, Hobby Lobby, Main Event, Sprouts Farmers Market and more)
- True investment grade tenant Shake Shack Inc. (NYSE: SHAK) with ±600 international locations and plans to expand to ±1,500
- Shake Shack corporate revenues in excess of $1.32 billion and increased 15.2% YOY in 2024
- Strong scheduled rent increases of 10% every 5 years through the primary term and option periods
- Immediately adjacent to proposed multi-family project with ±300 units, and just south of new multi-family developments boasting ±1,479 units
- This regional retail intersection, with one of the highest traffic counts in the state (371,000+ VPD), serves the residents of Avondale, Phoenix, Glendale, Peoria, Goodyear, Litchfield, and Tolleson
- Located at the NEC of 99th & McDowell, at the connection of two major highways, the I-10 & Loop 101
- Strong daytime employment in the immediate area with over 107,000 workers within 5-miles
- The West Valley is one of the fastest growing housing areas of metro Phoenix with over 7,564 new homes platted, planned and under construction just in the immediate trade area alone
- Shake Shack resides in Maricopa County which is the fastest growing county in the United States
Listing Contacts
Listed by Phoenix Commercial Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$195,000.00
$16,250.00/mo
Valuation Metrics
0
DSCR
4.88%
Cap Rate
4.88%
ROI
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