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New Raising Cane's-15 Yr Abs NNN-215 Fwy 239 Old Nuevo Rd

3,831 SF 4-Star Retail Building Perris, CA 92571 $6,774,000 ($1,768/SF) 4.65% Cap Rate

Investment Highlights

  • Raising Cane's - Corporate Executed Lease / 740 locations / Over $3.5 Billion in sales
  • New 15-Year Lease Term Plus Options to extend
  • (I-215) Fwy - Convenient Access, Visibility and Strong Traffic; Signalized Hard Corner Location
  • Absolute NNN Grounds Lease (Land Ownership)/ No Landlord Responsibilities
  • Growing Income Stream with 10% Rental Increases every 5 years
  • New Construction (2025) with Double Drive-Thru | Property located within California Qualified Opportunity Zone

Executive Summary

Faris Lee Investments is pleased to offer a brand new STNL freestanding Raising Cane’s on a new long term 15-year corporate executed absolute NNN Ground Lease (Land Ownership) with 4 (5-Year) options to extend. Raising Cane’s has 10% rental increases every 5 years through the initial term and option periods, which helps hedge against inflation and increases return on investment.
Raising Cane’s is a privately-held fast-food restaurant chain specializing in chicken fingers. Raising Cane’s offers a limited menu that allows them to focus on exceptionally high quality products that are served quickly and conveniently. Raising Cane’s has approximately 749 locations across 42 states, with more than 80% being company-owned. In addition, Raising Cane’s has an average unit volume of $3.6 million, which is one the highest in the QSR industry (qsrmagazine.com).
The subject property is ideally located on the SEQ of I-215 Fwy (±103,000) and W Nuevo Rd. (±10,120), which provides high daytime traffic and direct access to the on/off ramp of the I-215 Fwy. Raising Cane’s is an ideally positioned outparcel in a brand-new shopping center redevelopment accompanied by a supermarket, In-N-Out Burger, and other retail shops. Strong demographics in the immediate trade area include more than 114,500 consumers within a 5-mile radius featuring an average household income in excess of $87,000. Strong nearby national / credit tenants include Walmart, Ross Dress for Less, Burlington Stores, Bath & Body Works, and Stater Bros Market, Food4Less, Starbucks, McDonald’s, Del Taco, El Pollo Loco, & Carl’s JR. to name a few. Additionally, the property is located in a qualified opportunity zone.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,831 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2025
Construction Status
Under Construction
Price
$6,774,000
Price Per SF
$1,768
Cap Rate
4.65%
NOI
$315,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Land Acres
1.50 AC
Opportunity Zone
Yes
Zoning
Commercial Community
Frontage
236 FT on West Nuevo Road
Walk Score ®
Very Walkable (72)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
311-050-002
Land Assessment
$1,428,450
Improvements Assessment
$0
Total Assessment
$1,428,450
  • Listing ID: 32770925

  • Date on Market: 8/12/2024

  • Last Updated:

  • Address: 239 Old Nuevo Rd, Perris, CA 92571

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