Raising Cane's (GL)

4200 N Sterling Ave, Peoria, IL 61615

$2,903,226

Cap Rate 4.65%

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DOM: 12 Updated: 01.16.26 Posted: 01.16.26 Status: Active 01.16.26

Summary

Price $2,903,226	Built/Renov 2025	Tenant Raising Cane's (GL)
Cap Rate 4.65%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,862	Lease Start 12-09-2025	#Units 900
Price/SF $1,014.40	Expiration 12-31-2030	Tenant Type Fast Casual/Rest.
NOI $135,000	R. Term 4.11	Ownership Fee Simple
Rent/SF $47.17	Increases 7.5%/5/yrs	Pop 5Mi 115,754
Lot/AC 1.24	Options 10/5yrs/7.5%	AHHI 5Mi $82,738

Highlights

Raising Cane’s operates under a long-term absolute NNN lease
The property is surrounded by major national and regional retailers, including Walmart, Target, Starbucks, and Chipotle
The freestanding facility sits on a commercial parcel with ample parking, offering strong visibility and convenient access for customers
The lease is corporately guaranteed by Raising Cane’s Restaurants, LLC

Location Description

Raising Cane’s is strategically located on N Sterling Avenue, offering excellent visibility and convenient access along a primary commercial corridor. The property is surrounded by major national and regional retailers, including Walmart, Target, Starbucks, and Chipotle. The site is located within the Peoria School District, which includes Glen Oak Elementary School, Woodruff Elementary...

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Key Features

New construction
High traffic 50M+ VPD
Dense retail corridor
Strategically located
Freeway visibility
Dense 100M+ pop 5 mi
Strong demographics
Brand new lease
Long 15+ yr lease
Over 500 units backed

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Links

Raising Caine's Wikipedia Raising Caine's Wikipedia Peoria, IL Zip Code 61615 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Raising Cane's
Guarantor:Corporate
Company:Raising Cane's Restaurants LLC
# Units:900

About Tenant

Raising Cane’s Chicken Fingers, officially known as Raising Cane’s Restaurants, LLC, was founded in 1996, in Baton Rouge, Louisiana, by Todd Graves and Craig Silvey. The idea for the company, a...

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Listing Broker

Christian Tremblay

Northmarq

Contact

48 Listings
15421 Views
5 Sold

Mike Philbin

Northmarq

Contact

1 Listings
0 Views
0 Sold

Christian Tremblay

Christian Tremblay is a vice president located in Northmarq’s Chicago office. Christian specializes in the disposition and acquisition of single-tenant net lease retail, cannabis and industrial properties throughout the United States. Christian has closed more than $500 million in total transaction volume. Before Northmarq, Christian served as a director in Stan Johnson Company’s Chicago office. Prior to Stan Johnson Company, Christian was a vice president with Mid-America Real Estate Corpo

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Mike Philbin

Mike Philbin is a senior vice president in Northmarq’s West region and co-founder of the firm’s National Restaurant Group. He has 20+ years of real estate investment sales experience, as well as private equity M&A and sale-leaseback acquisition experience. Mike focuses exclusively on restaurant net-leased sales and acquisitions throughout the United States, including build-to-suit and ground-lease sales, sale-leasebacks, portfolio management and sales, and restaurant operations mergers

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Isaiah Harf

Northmarq

Contact

76 Listings
15743 Views
17 Sold

Isaiah Harf

Isaiah Harf is the Regional and Managing Director for Northmarq’s Chicago office and has been with the firm since October 2011. Focusing on the sale of net leased assets, Harf has closed more than $3 Billion in total transaction volume and has partnered with some of the nation’s most respected and trusted institutions, private equity managers and merchant developers. As one of the lead business development and execution specialists for the team, Harf provides extensive knowledge to buyers and s

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