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Views: 32 DOM: 38 Updated: 06.25.24 Posted: 06.04.24 Status: Active

Summary

Price $2,889,000
Built/Renov 2024
Tenant Raising Cane's (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,062
Lease Start 07-01-2024
#Units 736
Price/SF $943.50
Expiration 06-30-2039
Tenant Type Fast Food/QSR
NOI $130,000
R. Term 14.11
Ownership Ground Lease
Rent/SF $42.46
Increases 10.0%/5/yrs
Pop 5Mi 48,512
Lot/AC 0.91
Options 5/5yrs/10%
AHHI 5Mi $81,864

Lease Highlights

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

Location Description

Raising Cane's is strategically located at the signalized, hard-corner intersection of N 36th St and Broadway St, a major retail thoroughfare, with access to 40,400 vehicles passing by daily. The property serves as an outparcel to Target, which also features pads occupied by Dollar Tree, Steak ‘n Shake, and Applebee’s. Additionally, it is situated less than half a mile from Quincy Town Center,...

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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:736
  • 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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