Restaurant
Raising Cane's
21330 Center Ridge Rd, Rocky River, OH 44116
Listing Price: $5,050,000
Cap Rate
4.85%
Tenant Name
Raising Cane's
Years Remaining On Lease
11.9
Gross SF
3,418
Guarantor
No Guarantee
Rentable SF
3,418
Price/Gross SF
$1,477.47
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$71.68
Investment Overview
Marcus & Millichap is pleased to present for sale, Raising Cane's in Rocky River, Ohio.
Raising Cane's
Investment Highlights
- Raising Cane's Absolute Triple-Net Lease with 12 Years Remaining in Rocky River, Ohio (Cleveland MSA)
- Corporately-Operated Location and Corporate Lessee Entity - Raising Cane's Restaurants, LLC
- Dense/Affluent Location in the Center Ridge Road Corridor (20,000 Vehicles Per Day) with 12,846 One-Mile Population and $91,000 Average Household Income
- Originally a Franchised Unit; Sold to Raising Cane's Corporate in 2021 – Substantial Investment into Continued Success of This Location
- 10 Percent Rent Increases Every Five Years in Base Term and in the Options
- 2020 Construction with Drive-Thru on 1.24-Acre Parcel with Excellent Visibility and Two Points of Ingress/Egress
- Absolute Triple-Net Lease – Zero Landlord Responsibilities
- Raising Cane's is One of America's Fastest Growing QSR Brands – Sales Estimated at Over $1.5 Billion Across 600 Stores
Listing Price: $5,050,000
Cap Rate
4.85%
Tenant Name
Raising Cane's
Years Remaining On Lease
11.9
Gross SF
3,418
Guarantor
No Guarantee
Rentable SF
3,418
Price/Gross SF
$1,477.47
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$71.68
Investment Highlights
- Raising Cane's Absolute Triple-Net Lease with 12 Years Remaining in Rocky River, Ohio (Cleveland MSA)
- Corporately-Operated Location and Corporate Lessee Entity - Raising Cane's Restaurants, LLC
- Dense/Affluent Location in the Center Ridge Road Corridor (20,000 Vehicles Per Day) with 12,846 One-Mile Population and $91,000 Average Household Income
- Originally a Franchised Unit; Sold to Raising Cane's Corporate in 2021 – Substantial Investment into Continued Success of This Location
- 10 Percent Rent Increases Every Five Years in Base Term and in the Options
- 2020 Construction with Drive-Thru on 1.24-Acre Parcel with Excellent Visibility and Two Points of Ingress/Egress
- Absolute Triple-Net Lease – Zero Landlord Responsibilities
- Raising Cane's is One of America's Fastest Growing QSR Brands – Sales Estimated at Over $1.5 Billion Across 600 Stores
Investment Overview
Marcus & Millichap is pleased to present for sale, Raising Cane's in Rocky River, Ohio.
