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Views: 90 Updated: 10.24.23 Posted: 06.23.23 Status: Inactive

Summary

Price $4,348,000
Built/Renov 2023
Tenant Raising Cane's (GL)
Cap Rate 4.60%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 1,807
Lease Start 07-12-2022
#Units 677
Price/SF $2,406.20
Expiration 06-30-2037
Tenant Type Fast Casual/Rest.
NOI $200,000
R. Term 12.7
Ownership Ground Lease
Rent/SF $110.68
Increases 10.0%/5/yrs
Pop 5Mi 1,030,996
Lot/AC 0.57
Options 4/5yrs/10%
AHHI 5Mi $71,234

Lease Highlights

  • Brand new 2023 construction
  • Raising Cane’s has approximately 14 years remaining on its current lease term with 4 (5-year) options to extend,
  • Lease features a 10% rent increase every 5 years throughout the term and at the beginning of each option
  • Absolute NNN | Zero Landlord Responsibilities
  • Corporate guarantee by Raising Cane’s Restaurants, LLC

Location Description

Raising Cane’s is strategically located at the signalized, hard-corner intersection of Tweedy Boulevard and South Alameda Street, averaging 74,200 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage, as well as multiple access points. Additionally, the property is equipped with multiple drive-thru lanes, providing ease and convenience to...

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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 : 56,316 452,207 1,011,969
2023 Total Population : 56,599 458,287 1,025,707
2023 Employed Civilian Pop : 21,385 183,467 419,275
2023 Total Businesses : 782 8,206 22,870
2023 Average Household Income : $ 66,222 $ 72,759 $ 74,862
2023 Total Consumer Spending : $ 797 M $ 7258 M $ 17293 M
2023 Median Age : 28 29 30
2023 Total Households : 13,851 114,950 266,228
2023 Pop Age 25+: Bachelor's Degree : 1,921 19,554 48,148
2023 Average Home Value : $ 643,040 $ 622,579 $ 637,255
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Alameda St Wisconsin Ave 2012 37,532 0.10 mi
Truba Ave Kansas Ave 2011 5,647 0.24 mi
E 103rd St S Alameda St 2011 10,733 0.25 mi
E 103rd St Weigand Ave 2011 8,651 0.28 mi
Tweedy Blvd Santa Fe Ave 2011 14,374 0.31 mi
Juniper St E 97th St 2010 928 0.34 mi
E 103rd St Kalmia St 2008 7,298 0.34 mi
Juniper St E 102nd St 2008 764 0.35 mi
S Alameda St E 94th St 2014 31,953 0.37 mi
E 103rd St Juniper St 2008 7,258 0.39 mi

Listing Broker

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