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Views: 115 Updated: 07.21.24 Posted: 01.31.24 Status: Inactive 09.27.24

Summary

Price $4,022,000
Built/Renov 2024
Tenant Raising Cane's (GL)
Cap Rate 4.60%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,366
Lease Start 06-01-2024
#Units 677
Price/SF $1,194.89
Expiration 06-01-2039
Tenant Type Fast Casual/Rest.
NOI $185,000
R. Term 14.6
Ownership Fee Simple
Rent/SF $54.96
Increases 8.0%/5/yrs
Pop 5Mi 143,238
Lot/AC 1.49
Options 4/5yrs/8%
AHHI 5Mi $102,024

Lease Highlights

  • Brand-new 2024 construction
  • Raising Canes will be executing a brand-new 15-year ground lease with 4 (5-year) options to extend
  • The lease features 8% rental increases every 5 years throughout the initial term and 10% at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Raising Cane’s is strategically located on S. Willow Street, with access to 20,600 vehicles passing by daily. The property is conveniently situated off I-293, where traffic reaches 88,600 VPD, allowing for direct on/off ramp access to the site and the surrounding trade area. The area is supported by several retail developments, featuring anchor stores like The Home Depot, T.J. Maxx, Michaels,...

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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: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 : 14,723 92,191 144,764
2023 Total Population : 14,882 91,551 143,238
2023 Employed Civilian Pop : 8,609 49,859 79,500
2023 Total Businesses : 763 6,212 8,041
2023 Average Household Income : $ 92,699 $ 90,393 $ 102,024
2023 Total Consumer Spending : $ 502 M $ 3040 M $ 5227 M
2023 Median Age : 40 39 39
2023 Total Households : 6,292 38,823 59,432
2023 Pop Age 25+: Bachelor's Degree : 1,907 13,489 24,297
2023 Average Home Value : $ 303,653 $ 339,305 $ 373,098
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Jobin Drive S Willow St 2022 2,633 0.06 mi
S Willow St Leclerc Cir 2020 18,793 0.10 mi
Leclerc Cir Driving Park Rd 2020 487 0.11 mi
Miami Ct Jobin Dr 2020 487 0.12 mi
Seames Dr Lavista St 2020 487 0.13 mi
Jobin Drive Miami Ct 2018 2,932 0.13 mi
Jobin Drive Miami Ct 2019 2,967 0.13 mi
Gabrielle St Lucille St 2020 487 0.16 mi
Cahill Ave March Ave 2020 487 0.17 mi
South Willow Street Driving PkRd 2022 20,574 0.18 mi

Listing Broker

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