Raising Cane's (GL)

8610 Olive Blvd, Universal City, MO 63132

$3,795,000

Cap Rate 4.35%

Views: 90 DOM: 227 Updated: 04.28.24 Posted: 10.03.23 Status: Active

Summary

Price $3,795,000	Built/Renov 2023	Tenant Raising Cane's (GL)
Cap Rate 4.35%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,062	Lease Start 11-01-2023	#Units 677
Price/SF $1,239.39	Expiration 10-31-2038	Tenant Type Fast Casual/Rest.
NOI $165,000	R. Term 14.5	Ownership Ground Lease
Rent/SF $53.89	Increases 10.0%/5/yrs	Pop 5Mi 254,834
Lot/AC 1.18	Options 5/5yrs/10%	AHHI 5Mi $94,202

Lease Highlights

Brand-new 2023 construction
Raising Cane’s recently signed a brand-new 15-year lease with 5 (5-year) options to extend
Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Raising Cane's Restaurants LLC

Location Description

This newly constructed Raising Cane’s is strategically located at the signalized, hard corner intersection of Olive Boulevard and McKnight Road with access to 30,422 vehicles per day. The subject property benefits from its close proximity to the on/off ramps of the Inner Belt Expressway (Interstate 170) seeing over 100,235 vehicles per day. Additionally, the site benefits from its location as...

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Key Features

New construction
Signalized intersection
Hard corner intersection
Near major nationals
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Brand new lease
Absolute NNN
Corporate Guarantee

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Links

Raising Cane's Wikipedia Raising Cane's Wikipedia University City, Missouri Zip Code 63132 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Raising Cane's
Guarantor:Corporate
Company:Raising Cane's
# Units:677
Stock:Private

About Tenant

Founded by Todd Graves in 1996 in Baton Rouge, Louisiana, Raising Cane’s is one of the fastest-growing quick-service restaurant chains in the U.S. Renowned for its fresh, never frozen chicken...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	11,503	99,834	255,060
2023 Total Population :	11,153	99,148	255,863
2023 Employed Civilian Pop :	5,737	50,200	132,842
2023 Total Businesses :	546	5,880	13,310
2023 Average Household Income :	$ 112,596	$ 130,295	$ 111,506
2023 Total Consumer Spending :	$ 515 M	$ 4808 M	$ 10866 M
2023 Median Age :	47	41	39
2023 Total Households :	5,308	43,072	113,027
2023 Pop Age 25+: Bachelor's Degree :	2,582	18,466	45,419
2023 Average Home Value :	$ 383,922	$ 444,717	$ 383,668

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Olive Blvd	Briscoe Pl	2013	18,144	0.06 mi
N McKnight Rd	Mayflower Ct	2013	5,670	0.06 mi
Woodson Rd	Elmore Ave	2013	7,160	0.10 mi
Olive Boulevard	Hafner Pl	2022	5,572	0.11 mi
Olive Blvd	Briscoe Pl	2019	19,146	0.11 mi
Olive Boulevard	Briscoe Pl	2018	9,765	0.11 mi
	I- 170	2022	3,265	0.21 mi
	Olive Blvd	2022	10,920	0.22 mi
	Olive Blvd	2022	8,883	0.23 mi
	Ramp Olive Blvd Ramp W	2022	6,525	0.25 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

117 Listings
5251 Views
50 Sold

Jeff Lefko

Hanley Investment Group

Contact

115 Listings
5121 Views
54 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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