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Restaurant

Raising Cane's | Highly Populated Area Over 80k Pop in 2-Mile Radius | 16 Year Abs. NNN

1050 E Bell Rd, Phoenix, AZ 85022

Listing Price: $6,000,000

Cap Rate
4.00%
Tenant Name
Raising Cane's
Years Remaining On Lease
15.9
Guarantor
Corporate Guarantee
Rentable SF
3,616
Lease Type
Absolute Net
Rent Per Square Feet
$66.37

Investment Overview

Marcus & Millichap is pleased to present a Raising Cane's property located at 1050 E Bell Road in Phoenix, Arizona. The subject property is a 3,616 square foot building situated on an approximate 52,878 square foot parcel (1.21 acre) in the Moon Valley community of North Phoenix. This Raising Cane's is strategically placed on the out parcel of Green Leaf on Bell, a 306 Unit Luxury Apartment. There are 16 years remaining on the Absolute Triple-Net (NNN) Lease and three (3) five (5) year options with ten percent rental increases every five years. Founded by Todd Graves in 1996 in Baton Rouge, Louisiana, Raising Cane's has nearly 500 Restaurants in 27 states and five countries, with more than 50 new Restaurants in development. Raising Cane's Chicken Fingers has now surpassed $1.5 billion in annual sales – tripling in size within the last four years and more than doubling its team to 25,000 Crewmembers – while serving nearly one billion quality chicken finger meals. In addition, the company and its Restaurant Leaders are actively involved in each of their local Communities, giving back nearly $50 million to more than 20,000 organizations over the same time period. Raising Cane's is the fastest-growing Restaurant concept over $1 billion in sales shows no signs of slowing down. The Phoenix metro consists of Maricopa and Pinal counties, and includes more than 30 incorporated and more than 30 unincorporated towns and cities. Since 2000, the population in the metro increased by more than 38 percent. The largest city is Phoenix, which encompasses about 520 square miles, is the capital city and boasts a population of more than 1.5 million.

Investment Highlights

  • 16 Years Remaining on Absolute Triple-Net (NNN) Lease with no Landlord Responsibilities
  • Rent Increases to $264,000 in June 2022, Increasing the Cap Rate to 4.40%
  • Adjacent to Green Leaf on Bell, a 306 Unit Luxury Apartment and to Trellis on Bell, a 96 Home Community Built by Lennar Homes
  • Nearby Tenants Include Target, Sprouts, Safeway, LA Fitness, Hobby Lobby, Marshalls, Walgreens, Wells Fargo, Chase Bank, Bank of America, and Many More
  • More than 435,000 Daytime Employees in the Surrounding Area
  • Less than 3 Miles from AZ Loop 101 (153,200 VPD) - A Primary Connecting Road through the Phoenix MSA

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    Vice President / Regional Manager

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Restaurant

Raising Cane's | Highly Populated Area Over 80k Pop in 2-Mile Radius | 16 Year Abs. NNN

Listing Price: $6,000,000

Cap Rate
4.00%
Tenant Name
Raising Cane's
Years Remaining On Lease
15.9
Guarantor
Corporate Guarantee
Rentable SF
3,616
Lease Type
Absolute Net
Rent Per Square Feet
$66.37

Investment Highlights

  • 16 Years Remaining on Absolute Triple-Net (NNN) Lease with no Landlord Responsibilities
  • Rent Increases to $264,000 in June 2022, Increasing the Cap Rate to 4.40%
  • Adjacent to Green Leaf on Bell, a 306 Unit Luxury Apartment and to Trellis on Bell, a 96 Home Community Built by Lennar Homes
  • Nearby Tenants Include Target, Sprouts, Safeway, LA Fitness, Hobby Lobby, Marshalls, Walgreens, Wells Fargo, Chase Bank, Bank of America, and Many More
  • More than 435,000 Daytime Employees in the Surrounding Area
  • Less than 3 Miles from AZ Loop 101 (153,200 VPD) - A Primary Connecting Road through the Phoenix MSA

Investment Overview

Marcus & Millichap is pleased to present a Raising Cane's property located at 1050 E Bell Road in Phoenix, Arizona. The subject property is a 3,616 square foot building situated on an approximate 52,878 square foot parcel (1.21 acre) in the Moon Valley community of North Phoenix. This Raising Cane's is strategically placed on the out parcel of Green Leaf on Bell, a 306 Unit Luxury Apartment. There are 16 years remaining on the Absolute Triple-Net (NNN) Lease and three (3) five (5) year options with ten percent rental increases every five years. Founded by Todd Graves in 1996 in Baton Rouge, Louisiana, Raising Cane's has nearly 500 Restaurants in 27 states and five countries, with more than 50 new Restaurants in development. Raising Cane's Chicken Fingers has now surpassed $1.5 billion in annual sales – tripling in size within the last four years and more than doubling its team to 25,000 Crewmembers – while serving nearly one billion quality chicken finger meals. In addition, the company and its Restaurant Leaders are actively involved in each of their local Communities, giving back nearly $50 million to more than 20,000 organizations over the same time period. Raising Cane's is the fastest-growing Restaurant concept over $1 billion in sales shows no signs of slowing down. The Phoenix metro consists of Maricopa and Pinal counties, and includes more than 30 incorporated and more than 30 unincorporated towns and cities. Since 2000, the population in the metro increased by more than 38 percent. The largest city is Phoenix, which encompasses about 520 square miles, is the capital city and boasts a population of more than 1.5 million.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    Vice President / Regional Manager

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

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