Restaurant

Raising Cane's Ground Lease

5212 N Main St, Mishawaka, IN 46545

Listing Price: $2,644,000

Cap Rate
4.35%
Tenant Name
Raising Cane's
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
3,300
Lease Type
Ground Lease
Rent Per Square Feet
$34.85

Investment Overview

Raising Cane’s is renowned for its fresh, never frozen chicken fingers, its crave-able – some say addictive – secret-recipe Cane’s sauce, crinkle-cut fries, coleslaw, Texas toast, freshly brewed sweet tea and fresh-squeezed lemonade. Mishawaka is located on the St. Joseph River in northern Indiana, adjacent to the city of South Bend. Mishawaka, known as “the Princess City,” is a growing commercial city home to a growing population, major business expansion, and record-breaking new construction. The city is home to Bethel College, AM General’s Hummer Plant, multiple city parks, and the second-largest retail corridor in the state. As of 2019, Mishawaka’s estimated population was over 50,300 people.

Investment Highlights

  • Adjacent to St. Joseph Regional Medical Center
  • High Traffic Location Along North Main Street (Over 29,030 Cars Per Day) with Over 49,000 Cars Per Day at the Intersection of Main Street and Douglas Road
  • New 15-Year Triple-Net (NNN) Corporate Ground Lease
  • 10 Percent Rental Increases Every Five Years
  • 2020 Construction with a Drive Thru - Estimated Opening Date in December 2020
  • 154,899 Residents within a Five-Mile Radius
  • Located in the Largest Retail Corridor in Northern Indiana - Surrounding Retail Tenants Include Walmart, Sam's Club, Target, Lowe's, Meijer, Hobby Lobby, Chick-fil-A, Chipotle, The Home Depot, Target, and More
  • Three Miles East of the University of Notre Dame (Over 12,700 Students)

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    License(s): IN: RB14034355

    Indiana

Restaurant

Raising Cane's Ground Lease

Listing Price: $2,644,000

Cap Rate
4.35%
Tenant Name
Raising Cane's
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
3,300
Lease Type
Ground Lease
Rent Per Square Feet
$34.85

Investment Highlights

  • Adjacent to St. Joseph Regional Medical Center
  • High Traffic Location Along North Main Street (Over 29,030 Cars Per Day) with Over 49,000 Cars Per Day at the Intersection of Main Street and Douglas Road
  • New 15-Year Triple-Net (NNN) Corporate Ground Lease
  • 10 Percent Rental Increases Every Five Years
  • 2020 Construction with a Drive Thru - Estimated Opening Date in December 2020
  • 154,899 Residents within a Five-Mile Radius
  • Located in the Largest Retail Corridor in Northern Indiana - Surrounding Retail Tenants Include Walmart, Sam's Club, Target, Lowe's, Meijer, Hobby Lobby, Chick-fil-A, Chipotle, The Home Depot, Target, and More
  • Three Miles East of the University of Notre Dame (Over 12,700 Students)

Investment Overview

Raising Cane’s is renowned for its fresh, never frozen chicken fingers, its crave-able – some say addictive – secret-recipe Cane’s sauce, crinkle-cut fries, coleslaw, Texas toast, freshly brewed sweet tea and fresh-squeezed lemonade. Mishawaka is located on the St. Joseph River in northern Indiana, adjacent to the city of South Bend. Mishawaka, known as “the Princess City,” is a growing commercial city home to a growing population, major business expansion, and record-breaking new construction. The city is home to Bethel College, AM General’s Hummer Plant, multiple city parks, and the second-largest retail corridor in the state. As of 2019, Mishawaka’s estimated population was over 50,300 people.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    License(s): IN: RB14034355

    Indiana

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