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 £4,029,051 (£1,151/SF) 5% Net Initial Yield
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
£4,029,051
Price Per SF
£1,151
Net Initial Yield
5%
NOI
£201,453
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Land Acres
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
- Signalised 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
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99,999 SF
- -
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Lorem Ipsum
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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 | £277,728 |
| Land Assessment | £246,957 | Total Assessment | £524,685 |
PROPERTY TAXES
Parcel Number
263200-162-090-0001-004-000
Land Assessment
£246,957
Improvements Assessment
£277,728
Total Assessment
£524,685
-
Britt Raymond -
Kyle Fant -
Teddy Leonard -
SRS Real Estate Partners
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Shake Shack | New 15yr Corp Abs NNN | DrThru | 911 Jefferson Rd
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