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Views: 142 DOM: 155 Updated: 11.08.24 Posted: 06.19.24 Status: Active

Summary

Price $2,903,225
Built/Renov 2024
Tenant Raising Cane's (GL)
Cap Rate 4.65%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,809
Lease Start 10-01-2024
#Units 736
Price/SF $1,033.54
Expiration 09-30-2039
Tenant Type Fast Casual/Rest.
NOI $135,000
R. Term 14.10
Ownership Ground Lease
Rent/SF $48.06
Increases 10.0%/5/yrs
Pop 5Mi 68,374
Lot/AC 1.09
Options 5/5yrs/10%
AHHI 5Mi $89,117

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Raising Cane's is strategically located at the signalized, hard corner intersection of Prill Road and Gateway Drive, a primary thoroughfare with multiple points of entry and access to a combined daily traffic count of 19,200 vehicles. The property is surrounded by well-known national tenants including Walmart Supercenter, Super Target, Sam's Club, ALDI, Kohl's, Menards, and more. The 5-mile...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Raising Cane's
  • Guarantor:Corporate
  • Company:Raising Cane's Restaurants LLC
  • # Units:736
  • 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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Listing Broker

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