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Restaurant

Raising Cane's

21330 Center Ridge Rd, Rocky River, OH 44116

Listing Price: $5,900,000

Cap Rate
4.15%
Tenant Name
Raising Cane's
Years Remaining On Lease
12.7
Gross SF
3,418
Guarantor
No Guarantee
Rentable SF
3,418
Price/Gross SF
$1,726.16
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$71.68

Investment Overview

Raising Cane’s Absolute NNN Lease with 12.75 Years Remaining in Rocky River, OH (Cleveland MSA). Corporately-Operated Location & Corporate Lessee Entity - Raising Cane’s Restaurants, LLC. Situated Between Westgate (500K SF) & Westwood (250K SF) Open-Air Shopping Centers Anchored by Lowe’s, Target, Home Depot, Kohl’s & Marc’s. Rocky River is Amongst the Most Dense & Affluent of the Cleveland Suburbs – 93,000/3-Mi & 212,000 5-Mi Population w/ $81-91K AHHI. Raising Cane’s Added More Than 120 New Units (+25%) in Past 24 Months Despite COVID Challenges; Continuing Rapid Growth with 100 New Corporate Units Planned for 2022.

Investment Highlights

  • Raising Cane's Absolute NNN Lease with 12.75 Years Remaining in Rocky River, OH (Cleveland MSA)
  • Corporately-Operated Location & Corporate Lessee Entity - Raising Cane's Restaurants, LLC
  • Dense/Affluent Location in the Center Ridge Road Corridor (20,000 VPD) with 12,846/1-Mi Population & $91K AHHI
  • Originally a Franchised Unit; Sold to Raising Cane's Corporate in 2021 – Substantial Investment into Continued Success of This Location
  • 10% Rent Increases Every 5 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 NNN 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

Exclusively Listed By

Financing By

Listing Price: $5,900,000

Cap Rate
4.15%
Tenant Name
Raising Cane's
Years Remaining On Lease
12.7
Gross SF
3,418
Guarantor
No Guarantee
Rentable SF
3,418
Price/Gross SF
$1,726.16
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$71.68

Investment Highlights

  • Raising Cane's Absolute NNN Lease with 12.75 Years Remaining in Rocky River, OH (Cleveland MSA)
  • Corporately-Operated Location & Corporate Lessee Entity - Raising Cane's Restaurants, LLC
  • Dense/Affluent Location in the Center Ridge Road Corridor (20,000 VPD) with 12,846/1-Mi Population & $91K AHHI
  • Originally a Franchised Unit; Sold to Raising Cane's Corporate in 2021 – Substantial Investment into Continued Success of This Location
  • 10% Rent Increases Every 5 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 NNN 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

Raising Cane’s Absolute NNN Lease with 12.75 Years Remaining in Rocky River, OH (Cleveland MSA). Corporately-Operated Location & Corporate Lessee Entity - Raising Cane’s Restaurants, LLC. Situated Between Westgate (500K SF) & Westwood (250K SF) Open-Air Shopping Centers Anchored by Lowe’s, Target, Home Depot, Kohl’s & Marc’s. Rocky River is Amongst the Most Dense & Affluent of the Cleveland Suburbs – 93,000/3-Mi & 212,000 5-Mi Population w/ $81-91K AHHI. Raising Cane’s Added More Than 120 New Units (+25%) in Past 24 Months Despite COVID Challenges; Continuing Rapid Growth with 100 New Corporate Units Planned for 2022.

Exclusively Listed By

Financing By

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