Investment Offering
La Quinta, CA - Cava & Shake Shack Pad
78772 Hwy 111 | La Quinta, CA 92253
$6,886,000
Price5.25%
Cap Rate$361,538
NOI2004
Year Built100%
Occupancy5,832
± SF Offering GLA0.56
± AC Land AreaDescription
SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 2-tenant, freestanding Shake Shack and Cava Pad located in La Quinta, CA (Coachella Valley MSA). The property is positioned on a 0.56-acre parcel and is comprised of two suites totaling 5,832 SF.
Built in 2026, the property will feature brand new construction, top-of-the-line amenities, and a modern design, significantly minimizing the risk of near-term capital expenditures. In addition, the tenant lineup is comprised of Shake Shack (NYSE: SHAK) and Cava (NYSE: CAVA), two publicly traded, nationally recognized fast casual restaurants with a combined market cap of more than approximately $11.4 billion. The tenants recently signed new 15-year (Shake Shack) and 10-year (Cava) leases with multiple options to extend, demonstrating their long-term commitment to the subject trade area and shopping center. Both leases are structured as net leases and feature a scheduled 10% rental increase, minimizing expense leakage for a future investor and providing a hedge against inflation.
Location
The property is strategically situated as an outparcel within the highly successful community center, One Eleven La Quinta Center. Over 74% of the tenant lineup is made up of national/credit retailers such as Stater Bros, Ross, Hobby Lobby, Staples, Kohls, Petco, Big 5, Five Below, Daiso, and more. In addition, more than 72% of the tenant lineup has operated at the site for more than 10 years, further highlighting the strength of the center and the intrinsic value of the underlying real estate. The center supports more than 6M visitors per year and the Kohls anchor ranks in the top 97th percentile of Kohls locations nationwide (per Placer.Ai). Other nearby national/credit tenants nearby include Walmart Supercenter, Costco, Home Depot, Lowes, Target, Vons, Sprouts, Smart & Final, Marshalls, Best Buy, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area.
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |