Listed by JLL - New York City, New York, JLL Chicago | Americas Headquarters
$13,000,000
Raising Cane's - Brooklyn, NY
Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 1,899
Cap Rate 5%
NOI $650,000
Occupancy 100%
Tenancy Single
Brand/Tenant Raising Cane's
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 08/31/2045
Remaining Term 19.2
Rent Bumps Yes
Lease Options 5 X 5-Year Options
Price per SqFt $6,846
Year Built 2026
Acreage 0.550
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 08/15/2025
Ground Lease Yes
Retail | 5.00% CAP | 1,899 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Raising Cane’s at 506 Utica Avenue in Brooklyn, New York (“Property” or “Asset”). The Property operates on an absolute NNN ground lease with a rare 20-year primary lease term, 10% rent escalations every 5 years and five, five-year options. This flagship Raising Cane's location marks the brand's Brooklyn debut, capturing an entirely untapped market.
Investment highlights
- Flagship restaurant as the 1st Raising Cane’s location in Brooklyn
- Rare 20-year absolute NNN ground lease with no landlord responsibilities
- Extensive trade area with 1.3+ million residents within a 3-mile radius
- Urban infill location in market with high barriers to entry
- Raising Cane’s has seen 64 straight quarters of positive same-store sales growth
- Located in Prospect Lefferts Gardens, one of Brooklyn’s most desirable residential neighborhoods
- Frontage along Utica Avenue, a major four-lane commercial corridor
Listing Contacts
Listed by JLL - New York City, New York, JLL Chicago | Americas Headquarters
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$650,000.00
$54,166.67/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
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