Raising Cane's 239 W Nuevo Rd
3,831 SF 4-Star Retail Building Perris, CA 92571 $6,774,000 ($1,768.21/SF) 4.65% Cap Rate
INVESTMENT HIGHLIGHTS
- 15.5-year absolute NNN ground lease with 10% rental increases every 5 years (rent commenced 1/1/25)
- Zero landlord maintenance or expense obligations make this a truly “hands-off” investment
- Nearby Perris Marketplace – top 5% ranked shopping center in the U.S. based on number of annual visits (5M) per Placer.ai
- Brand-new 2025 build-to-suit construction with double drive-thru
- Large lot size – 1.51 acres
- Major national tenant that drive traffic to the immediate trade area include Walmart, ALDI, Food 4 Less, and Stater Bros
EXECUTIVE SUMMARY
A 15-year absolute NNN ground lease Raising Cane’s featuring 10% rental increases every 5 years throughout the base term and option periods. The subject property benefits from significant frontage on W Nuevo Road (~30,000 VPD) and is nearby Perris Marketplace – a top 5% ranked shopping center in the U.S. in terms of annual visits per Placer.ai.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
3,831 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2025
Construction Status
Under Construction
Price
$6,774,000
Price Per SF
$1,768.21
Cap Rate
4.65%
NOI
$315,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.51 AC
Opportunity Zone
Yes
Frontage
236’ on West Nuevo Road
Walk Score®
Very Walkable (72)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 311-050-002 | Improvements Assessment | $0 |
| Land Assessment | $1,428,450 | Total Assessment | $1,428,450 |
