About This Restaurant
Investment Highlights
Brand New 15-Year Lease | Scheduled Rental Increases | Corporate Signed | Renowned QSR Chicken Brand Signalized, Hard-Corner Intersection (63,600) | Excellent Visibility & Access | Double Drive-Thru Equipped Direct Consumer Base | Affluent Albuquerque Suburb | Strong Demographics in 5-Mile Trade Area Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities Nearby Walmart Supercenter | Retail Corridor | Strong National/Credit Tenant Presence
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, newly-constructed, double drive-thru equipped Raising Cane?s investment property located in Rio Rancho, New Mexico (Albuquerque MSA). The tenant, Raising Cane?s Restaurants, LLC, recently signed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity, Raising Cane?s Restaurants, LLC, and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Founded in 1996, Raising Cane?s is a well-known and established QSR chicken brand with more than 700 restaurants around the world and several new restaurants in development.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food Fast Food General Retail Fast Food General Retail Restaurant Fast Food
- Building Size 3,181
- Building Class B
- Year Built 2024
- Price 3,542,000
- Price Per SF 1,113
- Cap Rate 4.15
- NOI 147,008
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.06
- Land Acres 1.30 AC
Amenities
- Corner Lot
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
Property Taxes
| Parcel Number | 1-011-068-378-334 | Improvements Assessment | $39,308 |
| Land Assessment | $236,067 | Total Assessment | $275,375 |
| Date Created: | 2024-07-16 04:17:59 | Last Updated: | 2024-07-16 04:17:59 |
| Address: | SEC of Unser Blvd and Southern Blvd , Rio Rancho, New Mexico, 87124 | ||