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Views: 12 DOM: 12 Updated: 09.04.24 Posted: 09.04.24 Status: Active

Summary

Price $7,386,000
Built/Renov 2024
Tenant Raising Cane's (GL)
Cap Rate 4.40%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,267
Lease Start 12-01-2024
#Units 749
Price/SF $2,260.79
Expiration 11-30-2039
Tenant Type Fast Casual/Rest.
NOI $325,000
R. Term 15.2
Ownership Ground Lease
Rent/SF $99.48
Increases 10.0%/5/yrs
Pop 5Mi 283,123
Lot/AC 1.29
Options 4/5yrs/10%
AHHI 5Mi $104,129

Lease Highlights

  • Brand new 2024 construction
  • New 15-year ground lease with 3 (5-year) and 1 (4 year, 11 months) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Raising Cane's is strategically located at the signalized hard corner intersection of Central Avenue and Magnolia Avenue, with access to a substantial combined daily traffic count of 66,200 vehicles. The property is situated near Riverside Plaza, a shopping center ranked in the top 98th percentile nationwide with over 8.2 million annual visitors. Riverside Plaza features prominent national...

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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:749
  • 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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