STNL Shake Shack | 4415 Tree Sparrow Ln
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
STNL Shake Shack 4415 Tree Sparrow Ln
3,529 SF Retail Building Riverton, UT 84096 £3,737,872 (£1,059/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
£3,737,872
Price Per SF
£1,059
Net Initial Yield
5%
NOI
£186,968
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 | £91,700,417 | |
| Land Assessment | £20,246,700 | Total Assessment | £111,947,117 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£20,246,700
Improvements Assessment
£91,700,417
Total Assessment
£111,947,117
1 of 13
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
STNL Shake Shack | 4415 Tree Sparrow Ln
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.