loader
Join Free
Views: 201 DOM: 41 Updated: 09.12.24 Posted: 08.06.24 Status: Active

Summary

Price $3,138,000
Built/Renov 2021
Tenant Raising Cane's (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,311
Lease Start 01-05-2021
#Units 749
Price/SF $947.75
Expiration 01-31-2036
Tenant Type Fast Casual/Rest.
NOI $141,200
R. Term 11.4
Ownership Ground Lease
Rent/SF $42.65
Increases 10.0%/5/yrs
Pop 5Mi 269,720
Lot/AC 1.22
Options 4/5yrs/10%
AHHI 5Mi $132,838

Lease Highlights

  • Raising Cane's has 11+ years remaining on the current ground lease term with 4 (5-year) 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 West 11400 South and South River Heights Drive, with access to a combined daily traffic count of 29,066 vehicles. The property is immediately east of Daybreak, a 4,000-acre master-planned community with over 10,000 homes and 30,000 residents. Daybreak is developing a new downtown center that will include a...

...

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...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity