Raising Cane's
Retail | 5.00% CAP | 2,862 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a new construction Raising Cane’s ground lease located at 323 William S Canning Boulevard in Fall River, Massachusetts (the “Property”). The new construction building consists of a 2,862 square foot building with two dedicated drive through lanes on a 1.10-acre corner parcel. Raising Cane’s has 14+ years remaining on their Absolute NNN Ground Lease with five (5), five-year renewal options. The Lease calls for attractive rent increases of 10% every five years throughout the base term and at the start of each renewal option period.
The new construction Raising Cane’s is situated at the signalized intersection of Newton Street and William S Canning Boulevard (MA Route 81), the area’s primary commercial corridor, and is 0.25 miles from the Fall River Expressway (MA Route 24). The Property features outstanding frontage and visibility and enjoys convenient access to Interstate 195 as well as US Route 6. The Property is positioned in the center of a dense commercial area and is surrounded by national retailers and restaurants which drive traffic to the immediate area. Raising Cane’s is convenient to densely populated residential neighborhoods, area schools, St Anne’s Hospital, and Bally’s Tiverton, providing a built-in and captive customer base.
Located along the eastern shore of Mount Hope Bay at the mouth of the Taunton River, Fall River sits approximately 50 miles south of Boston and 20 miles southeast of Providence, Rhode Island.
Investment highlights
NEW CONSTRUCTION GROUND LEASE: Raising Cane’s has 14+ years remaining on their Absolute NNN Ground Lease with five (5), 5-year renewal options. The new construction building features a drive-through and outdoor seating area.
ATTRACTIVE RENT INCREASES: The lease calls for 10% rental increases every five years through the current term and at the start of all five (5), 5-year renewal options, providing the investor with an attractive increase in revenue and a hedge against inflation.
DYNAMIC TENANT: Raising Cane’s is a fast-growing national QSR chain specializing in chicken fingers. Founded in 1996, the company is rapidly expanding and has more than 915 locations with plans for continued aggressive expansion. Raising Cane’s has 63 consecutive quarters of SRS Growth, and their AUV is approximately 2 times the QSR Average ($6.2 million in 2024). Raising Cane’s had sales of $5.1 Billion in 2024.
ZERO MANAGEMENT RESPONSIBILITIES: Raising Cane’s has an Absolute NNN Ground Lease and is responsible for all operating expenses, repairs, maintenance, and replacements to the entire property (building and grounds).
OUTSTANDING LOCATION: The new construction Raising Cane’s is strategically positioned at the signalized intersection of Newton Street and William S. Canning Boulevard (MA Route 81), a dominant retail and commuter corridor, and is located approximately 0.25 miles from the Fall River Expressway (MA Route 24). The Property benefits from exceptional visibility, strong frontage, and multiple points of access, with convenient connectivity to Interstate 195 and U.S. Route 6. Situated within a dense and established commercial trade area, the site is surrounded by a concentration of national retailers and restaurants that drive sustained traffic volumes. The Property also draws from nearby high-density residential neighborhoods, area schools, St. Anne’s Hospital, and Bally’s Tiverton, providing a durable and captive customer base.
AREA DRIVERS: The Property is 1.5 miles from Bally’s Tiverton, which has brought a modern entertainment and hospitality element to the town, contributing to local tax revenues and job opportunities. Bally’s Tiverton offers a gaming floor with 1,000 slot machines and 32 live table games, an on-site, full-service Sportsbook, as well as an 83-room hotel, dining options, and live entertainment.
The Property is 1.6 miles from St Anne’s Hospital, a long-established, full-service acute care Catholic community hospital that has been serving southeastern Massachusetts and Rhode Island since 1906. Today it operates as a nonprofit facility and is part of Brown University Health. The hospital is licensed for 196 beds, offering a broad range of inpatient and outpatient services including emergency care, medical and surgical services, cardiology, cancer treatment, orthopedics, pain management, and women’s health clinics.
STRONG DEMOGRAPHICS: Over 88,200 people live within 3 miles of the Property with an average household income of $80,505. More than 132,400 people live within 5 miles of the Property with an average household income of $94,529. An additional 41,900 people work within 5 miles of the property.
HIGH TRAFFIC COUNTS: Approximately 21,600 vehicles pass by the property each day at the signalized intersection of Newton Street and William S Canning Boulevard (MA Route 81). An additional 53,400 vehicles pass near the Property along the Fall River Expressway (MA Route 24).
TRADE AREA: Additional businesses, attractions and retailers driving consumers to the immediate trade area include Bally’s Tiverton, Walmart Supercenter, Market Basket, Stop & Shop, Aldi, Harbor Freight, Staples, Burlington, TJ Maxx, Old Navy, Picture Show (Movie Theater), Planet Fitness, CVS, Walgreens, Dollar Tree, Family Dollar, O’Reilly Auto Parts, AutoZone, Advance Auto Parts, 110 Grill, Chick-fil-A, Chipotle, McDonald’s, Wendy’s, Burger King, Taco Bell, Denny’s, Five Guys, Jersey Mike’s, Dunkin’, Papa Gino’s, Domino’s and Little Caesars.
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