loader
Join Free
Updated: 04.02.24 Posted: 09.27.23 Status: Sold

Summary

Price $2,454,545 $2,842,105
Built/Renov 2023
Tenant Raising Cane's (GL)
Cap Rate 5.50% 4.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,062
Lease Start 10-15-2023
#Units 677
Price/SF $801.61 $928.19
Expiration 10-31-2038
Tenant Type Fast Casual/Rest.
NOI $135,000
R. Term 13.5
Ownership Ground Lease
Rent/SF $44.09
Increases 7.5%/5/yrs
Pop 5Mi 380,885
Lot/AC 0.94
Options 5/5yrs/7.5%
AHHI 5Mi $127,644

Lease Highlights

  • Brand new 2023 construction
  • Raising Canes recently signed a brand new 15-year lease with 5 (5-year) options to extend
  • Lease features 7.5% rental increases every 5 year throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Raising Cane's Restaurants LLC

Location Description

This newly constructed 3,062 square foot Raising Cane’s is strategically located at the hard corner intersection of Lincoln Highway and Williams Street with access to 36,600 vehicles per day. The site benefits from its location directly across from a Walmart anchored shopping center with tenants including Jersey Mikes, America’s Best, Mattress Firm, Chase and more. Additional national/credit...

...

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...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,552 37,572 92,175
2023 Total Population : 6,598 37,023 91,577
2023 Employed Civilian Pop : 3,775 20,648 49,366
2023 Total Businesses : 232 1,169 2,286
2023 Average Household Income : $ 133,091 $ 146,654 $ 141,039
2023 Total Consumer Spending : $ 268 M $ 1595 M $ 3828 M
2023 Median Age : 38 40 40
2023 Total Households : 2,396 12,936 32,161
2023 Pop Age 25+: Bachelor's Degree : 1,026 6,679 16,423
2023 Average Home Value : $ 329,571 $ 366,312 $ 361,149
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Haven Ave Roberts Rd 2007 19,800 0.02 mi
E Haven Ave Williams St 2009 18,800 0.10 mi
E Haven Ave S Cooper Rd 2009 18,800 0.15 mi
E Haven Ave Walona Ave 2007 19,800 0.22 mi
East Maple Street E Haven Ave 2019 26,400 0.35 mi
E Haven Ave Marley Rd 2009 18,800 0.41 mi
Lincoln Hwy 2021 22,600 0.45 mi
Prairie Rd W Maple St 2008 3,200 0.48 mi
Marley Rd Bittersweet Ln 2012 3,700 0.50 mi
Oak St N Cooper Rd 2012 150 0.53 mi

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