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Restaurant

Corporate Raising Cane's | St. Louis MSA | 10 Year Absolute NNN | Target Outparcel

1034 S Kirkwood Rd, Kirkwood (St. Louis), MO 63122

Listing Price: $4,730,000

Cap Rate
5.00%
Tenant Name
Raising Cane's Restaurants, LLC
Years Remaining On Lease
9.4
Gross SF
2,724
Guarantor
Corporate Guarantee
Rentable SF
2,724
Price/Gross SF
$1,736.42
Lease Type
Absolute Net
Rent Per Square Feet
$86.82

Investment Overview

Raising Cane’s is located at 1034 S. Kirkwood Road in Kirkwood (St. Louis) Missouri. Built and opened in October, 2015, the subject is a 2,724-square-foot single tenant building on +/- .77 acres of land. There are 10 years remaining on the absolute triple-net (NNN) lease with no landlord responsibilities. Raising Cane’s is the #1 Fastest Growing Chain according to Nation’s Restaurant News. Raising Cane’s has grown from 250 stores and $576 million in sales in 2016, to 500+ stores and $1.5 billion in sales expected for the current fiscal year. The subject property is conveniently situated just north of the I-44 Freeway and adjacent to significant retail and educational facilities including Target, Walmart Supercenter, Lowe’s and St. Louis Community College. The Property benefits from right-in right-out turning movements directly onto Kirkwood. Additionally, there is access through the adjacent power center to full movement, signalized intersections on Big Bend and Kirkwood. Raising Cane’s is visible to over 35,000 cars per day from Kirkwood Road. There are more than 183,000 residents and 77,000 households within a 5-mile radius of the restaurant. The average household income exceeds $129,000 within a 3-mile radius. Kirkwood is a western suburb community of St. Louis, Missouri and the home of the largest community college in St. Louis, Saint Louis Community College–Meramec, located across the street from the Property with over 12,000 students. Nine Fortune 500 companies call St. Louis home, including Monsanto, Edward Jones Investments and Express Scripts, and the city has a growing concentration of medicine/biomedicine jobs led by BJC Heath Care and aerospace jobs driven by Boeing’s employment of nearly 15,000 people in the area.

Investment Highlights

  • 10 Years Remaining on Initial 15 Year Absolute Net Lease (Zero Landlord Responsibilities) Featuring Rental Increases Every 5 Years throughout the Initial Term and Options.
  • Surrounded by Numerous other National Retailers Including Target, Lowe's Home Improvement, Walmart Supercenter, TJ Maxx, HomeGoods, Hobby Lobby, ALDI, Chipotle, Burlington, Dollar Tree and many more.
  • COVID-19 Resilient Tenant Has Paid Full Rent since Beginning of the Pandemic and has Donated Over $500K to Local Hospitals.
  • Densely Populated Area: Features more than 183k People Living within a 5-Mile Radius.
  • Positioned Along Area's Major Traffic & Retail Corridor - Features Easy Access and Excellent Visibility with Daily Traffic Counts Exceeding 35k Vehicles. Direct Access from I-44 (140k+ VPD).
  • Kirkwood, Missouri, is located in the suburban heart of the St. Louis metropolitan area. Kirkwood retains the charm and character of the past combined with abundant shopping, dining, and entertainment in a pedestrian friendly outdoor ambiance.
  • Raising Cane's is the #1 Fastest Growing Chain according to Nation's Restaurant News. Raising Cane's has grown from 250 stores and $576 million in sales in 2016, to 500+ stores and $1.5 billion in sales expected for the current fiscal year.

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    (314) 889-2500

    License(s) MO: 2013016939

    Missouri

Restaurant

Corporate Raising Cane's | St. Louis MSA | 10 Year Absolute NNN | Target Outparcel

Listing Price: $4,730,000

Cap Rate
5.00%
Tenant Name
Raising Cane's Restaurants, LLC
Years Remaining On Lease
9.4
Gross SF
2,724
Guarantor
Corporate Guarantee
Rentable SF
2,724
Price/Gross SF
$1,736.42
Lease Type
Absolute Net
Rent Per Square Feet
$86.82

Investment Highlights

  • 10 Years Remaining on Initial 15 Year Absolute Net Lease (Zero Landlord Responsibilities) Featuring Rental Increases Every 5 Years throughout the Initial Term and Options.
  • Surrounded by Numerous other National Retailers Including Target, Lowe's Home Improvement, Walmart Supercenter, TJ Maxx, HomeGoods, Hobby Lobby, ALDI, Chipotle, Burlington, Dollar Tree and many more.
  • COVID-19 Resilient Tenant Has Paid Full Rent since Beginning of the Pandemic and has Donated Over $500K to Local Hospitals.
  • Densely Populated Area: Features more than 183k People Living within a 5-Mile Radius.
  • Positioned Along Area's Major Traffic & Retail Corridor - Features Easy Access and Excellent Visibility with Daily Traffic Counts Exceeding 35k Vehicles. Direct Access from I-44 (140k+ VPD).
  • Kirkwood, Missouri, is located in the suburban heart of the St. Louis metropolitan area. Kirkwood retains the charm and character of the past combined with abundant shopping, dining, and entertainment in a pedestrian friendly outdoor ambiance.
  • Raising Cane's is the #1 Fastest Growing Chain according to Nation's Restaurant News. Raising Cane's has grown from 250 stores and $576 million in sales in 2016, to 500+ stores and $1.5 billion in sales expected for the current fiscal year.

Investment Overview

Raising Cane’s is located at 1034 S. Kirkwood Road in Kirkwood (St. Louis) Missouri. Built and opened in October, 2015, the subject is a 2,724-square-foot single tenant building on +/- .77 acres of land. There are 10 years remaining on the absolute triple-net (NNN) lease with no landlord responsibilities. Raising Cane’s is the #1 Fastest Growing Chain according to Nation’s Restaurant News. Raising Cane’s has grown from 250 stores and $576 million in sales in 2016, to 500+ stores and $1.5 billion in sales expected for the current fiscal year. The subject property is conveniently situated just north of the I-44 Freeway and adjacent to significant retail and educational facilities including Target, Walmart Supercenter, Lowe’s and St. Louis Community College. The Property benefits from right-in right-out turning movements directly onto Kirkwood. Additionally, there is access through the adjacent power center to full movement, signalized intersections on Big Bend and Kirkwood. Raising Cane’s is visible to over 35,000 cars per day from Kirkwood Road. There are more than 183,000 residents and 77,000 households within a 5-mile radius of the restaurant. The average household income exceeds $129,000 within a 3-mile radius. Kirkwood is a western suburb community of St. Louis, Missouri and the home of the largest community college in St. Louis, Saint Louis Community College–Meramec, located across the street from the Property with over 12,000 students. Nine Fortune 500 companies call St. Louis home, including Monsanto, Edward Jones Investments and Express Scripts, and the city has a growing concentration of medicine/biomedicine jobs led by BJC Heath Care and aerospace jobs driven by Boeing’s employment of nearly 15,000 people in the area.

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    (314) 889-2500

    License(s): MO: 2013016939

    Missouri

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