STNL Shake Shack | 4415 Tree Sparrow Ln
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STNL Shake Shack 4415 Tree Sparrow Ln
3,529 SF Retail Building Riverton, UT 84096 £3,625,157 (£1,027.25/SF) 5% Net Initial Yield
INVESTMENT HIGHLIGHTS
- New 10-Year Ground Lease with Corporate Guaranty (NYSE: SHAK)
- Percentage Rent and 10% Increases Every 5 Years
- Positioned within Mountain View Village, a ±1MM SF mixed-use destination
- Absolute NNN with Zero Landlord Responsibilities
- Benefits from frontage along 13400 South St. (±31,227 VPD)
- Surrounded by 100+ national retailers
EXECUTIVE SUMMARY
Colliers is pleased to exclusively offer for sale a new construction single tenant net-leased Shake Shack with drive-thru located within Mountain View Village – an 85-acre mixed use destination that is part of a 600-acre master development featuring additional residential, office, and retail, in the Salt Lake City, UT MSA.
The asset benefits from a 10-Year Absolute NNN ground lease with percentage rent and 10% rent increases every five years, including options, along with frontage on 13400 South and combined traffic counts in excess of ±47,827 VPD.
Mountain View Village has been drawing people 25 miles south of downtown Salt Lake with its vast amount of must-visit shops and restaurants. Notable national co-tenants include Harmons, Cinemark, Sephora, Nike, Michaels, Burlington, PetSmart, Kona Grill, and more. The project is in Phase III of development with additional retail, office, medical, hotel, and a future Trax Line transit line extension. Upon completion of the Mountain View Village project, Mountain View Corridor is projected to carry ±165,000 VPD.
The asset is surrounded by affluence with nearby neighborhoods that are well known for being impressive in size and finishes servicing ±206,439 residents with an annual household income of ±$159,859 within a 5-mile radius. With the surrounding trade area growth and adjacent development, this property provides investors with a stable investment opportunity for years to come.
The asset benefits from a 10-Year Absolute NNN ground lease with percentage rent and 10% rent increases every five years, including options, along with frontage on 13400 South and combined traffic counts in excess of ±47,827 VPD.
Mountain View Village has been drawing people 25 miles south of downtown Salt Lake with its vast amount of must-visit shops and restaurants. Notable national co-tenants include Harmons, Cinemark, Sephora, Nike, Michaels, Burlington, PetSmart, Kona Grill, and more. The project is in Phase III of development with additional retail, office, medical, hotel, and a future Trax Line transit line extension. Upon completion of the Mountain View Village project, Mountain View Corridor is projected to carry ±165,000 VPD.
The asset is surrounded by affluence with nearby neighborhoods that are well known for being impressive in size and finishes servicing ±206,439 residents with an annual household income of ±$159,859 within a 5-mile radius. With the surrounding trade area growth and adjacent development, this property provides investors with a stable investment opportunity for years to come.
DATA ROOM Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,529 SF
Building Class
A
Year Built
2023
Price
£3,625,157
Price Per SF
£1,027.25
Net Initial Yield
5%
NOI
£181,330
Tenancy
Single
Number of Floors
1
Building FAR
0.23
Lot Size
0.35 AC
Zoning
Commercial - Commercial
AMENITIES
- Signage
- Drive Thru
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Shake Shack
- Accommodation and Food Services
-
99,999 SF
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Shake Shack | Accommodation and Food Services | 99,999 SF | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £89,348,393 | |
| Land Assessment | £19,727,393 | Total Assessment | £109,075,786 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£19,727,393
Improvements Assessment
£89,348,393
Total Assessment
£109,075,786
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STNL Shake Shack | 4415 Tree Sparrow Ln
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