Listed by Matthews
$4,000,000
Raising Cane's - Birmingham, AL
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 3,130
Net Rentable (SqFt) 3,031
Cap Rate 4.75%
NOI $190,000
Occupancy 100%
Tenancy Single
Brand/Tenant McDonald's, Chick-fil-A
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 03/31/2041
Remaining Term 15
Rent Bumps Yes
Lease Options Ten (10), 5-year Options
Year Built 2026
Acreage 1.160
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/10/2026
Ground Lease Yes
Walmart Outparcel | Most Traveled Rd in AL | 4.75% CAP | New Construction
Investment highlights
- New 2026 Construction | +1.16 Acres | Double-Drive-Thru | Opened March 2026 - brand new construction featuring Raising Cane's latest prototype with a double drive-thru designed to accommodate high-volume demand.
- Premier Retail Corridor | Walmart Outparcel in Affluent AL Market - positioned along Hwy 280 with 63,230+ vehicles per day (VPD), offering exceptional visibility & access; prime hard-corner outparcel to Walmart benefitting from strong daily consumer traffic.
- Surrounded by National Retailers - including Walmart, Lowe's, Publix, Target, Chick-fil-A, Chipotle, HomeGoods, Culver's & more, driving consistent activity & strong foot traffic.
- Affluent Homewood (Birmingham) Demographics | High-Growth Market - located in southwest Birmingham, one of the most affluent & desirable areas in Alabama with strong long-term fundamentals.
- Median HH Income: $107,590 | 2030 Population Growth: 6.78%
- Strong Tenant Performance & Growth - Raising Cane's is the 3rd largest chicken chain in the U.S. with 800+ locations & rapidly expanding footprint.
- Sales: $5.1B in 2024 (doubling since 2021)
- Expansion: 100+ openings in 2025 & 100+ planned for 2026
- New 15-Year Absolute NNN Ground Lease - 15-year initial term with an investor friendly structure.
- Rent Commencement: March 10, 2026
- Guarantor: Raising Cane's Restaurants, LLC
- Increases: 10% Every 5 Years
- Options: Ten (10), 5-Year Renewals
- High-Quality, High-Demand Site - recently completed construction & best-in-class site design position the asset to capture strong, sustained consumer demand within Birmingham's premier retail corridor.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$190,000.00
$15,833.33/mo
Valuation Metrics
0
DSCR
4.75%
Cap Rate
4.75%
ROI
Map
Zoning
B-2 CommercialGeneral CommercialGeneral Business District
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View all 60 uses Last updated Mar 30, 2026 For deeper zoning details, reports are available at Zoneomics
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