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Shake Shack 13239 Manchester Rd 3,453 SF Retail Building Des Peres, MO 63131 $4,364,000 ($1,263.83/SF) 5.50% Cap Rate
Investment Highlights
- 13+ years remaining on absolute net ground lease featuring rental increases every 5 years throughout the base term and options
- Tenant invested over $4M to construct the building ground up
- Shake Shack reported revenues of $1.45B in FY 2025, a 16% increase over the previous year
- Full-term corporate guaranty from SSE Holdings, LLC
- 2023 construction with drive-thru
- Ultra high incomes – 1-mile average household incomes of $281K and exceeding $208K in a 3 & 5-mile radius
Executive Summary
A 2023 construction Shake Shack with a drive-thru featuring a 15-year absolute net ground lease with rental increases every 5 years. The tenant spent over $4M to construct the building in Des Peres, a densely populated St. Louis suburb with ultra-high income demographics – $281K average household incomes within a 1-mile radius of the subject property.
Property Facts
Sale Type
Investment
Property Type
Building Size
3,453 SF
Building Class
B
Year Built
2023
Price
$4,364,000
Price Per SF
$1,263.83
Cap Rate
5.50%
NOI
$240,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.49 AC
Zoning
17C-5 - Commercial District
Parking
10 Spaces (2.9 Spaces per 1,000 SF Leased)
Frontage
Nearby Major Retailers
Property Taxes
| Parcel Number | 22O-41-0627 | Improvements Assessment | $363,460 |
| Land Assessment | $225,920 | Total Assessment | $589,380 |
Property Taxes
Parcel Number
22O-41-0627
Land Assessment
$225,920
Improvements Assessment
$363,460
Total Assessment
$589,380
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Shake Shack | 13239 Manchester Rd
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