Listed by Marcus & Millichap - San Diego
$4,395,000
Raising Cane's Ground Lease
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,913
Units 1
Cap Rate 4.55%
NOI $200,000
Occupancy 100%
Tenancy Single
Brand/Tenant Raising Cane's
Lease Type Absolute NNN
Lease Term 15
Remaining Term 15
Rent Bumps Yes
Lease Options Ten, 5-Year
Price per SqFt $1,509
Year Built 2025
Investment Type Net Lease
Ground Lease No
Brand New Raising Canes Ground Lease | Across from Whole Foods & Target | Near 18K+ Students
Marketing description
Sambazis Retail Group of Marcus & Millichap is pleased to present the Raising Cane's Ground Lease in Chattanooga, Tennessee. Raising Cane's has signed a 15-year absolute NNN ground lease with 10% increases every five years. There is a corporate guaranty 915+ Locations in 42+ States and $5.1 Billion in System-wide Sales
Investment highlights
- 15-Year Absolute NNN Ground Lease with 10% Increases Every 5 Years
- Corporate Guaranty, 915+ Locations in 42+ States and $5.1 Billion in System-wide Sales
- Significant Capital Investment by Tenant to Build New Prototype with State-of-the-Art Design and Dual Drive-Thru
- Average Unit-Level Sales for Raising Canes is $6.6 Million, More Than Double the Fast-Food Average and Behind Only Chick-fil-A
- Raising Canes Has Experienced 64 Quarters (16 Years) of Positive Same-Store Sales Growth
- Serving Over 110,800 Residents in One of the Fastest-Growing Submarkets of Chattanooga
- Average Household Income Exceeds $104,000 in 3 Miles and $96,000 in 5 Miles
- Across from Target and Whole Foods Anchored Center and Down the Street from Hamilton Place Mall with 6.6+ Million Shoppers Annually
- Close Proximity to $4.3+ Billion Volkswagen Production Plant (5,500+ Employees), Hub for North American EV Assembly
- Minutes to 1 Million SF Amazon Distribution/Fulfillment Center (2,000+ Employees)
- 1/2 Mile to Erlanger East Hospital Campus With Thousands of Visitors Annually
- Just Off I-75 with 127,500+ Cars/Day, One of the Main North/South Highways on the East Coast
- Strong Daytime Population, More Than 76,000 Employees in the Primary Trade Area
- Centrally Located Between Chattanooga State Community College (7,000+ Students) and Southern Adventist University (2,900+ Students)
- Surrounded by Several K-12 Schools (8,000+ Students)
- Tax Free State, No State Income Tax in Tennessee
Listing Contacts
Listed by Marcus & Millichap - San Diego
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$200,000.00
$16,666.67/mo
Valuation Metrics
0
DSCR
4.55%
Cap Rate
4.55%
ROI
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