Raising Cane's Absolute NNN Lease | 3341 Boca Chica Blvd
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Raising Cane's Absolute NNN Lease 3341 Boca Chica Blvd
2,724 SF 4-Star Retail Building Brownsville, TX 78521 $4,709,524 ($1,729/SF) 5.25% Cap Rate
Investment Highlights
- 15 YEAR ABSOLUTE NNN LEASE
- SCHEDULED INCREASES IN RENT EVERY 5 YEARS
- 190,567 RESIDENTS IN GROWING TRADE AREA
- ZERO LANDLORD OBLIGATIONS
- NEW 2016 CONSTRUCTION WITH A DRIVE-THRU
- LOCATED BETWEEN A WALMART SUPERCENTER WITH ESTIMATED SALES OAF $92 MILLION AND HOME DEPOT
Executive Summary
This is an absolute NNN leased Raising Cane’s in Brownsville, Texas. The property built in 2016, consists of 2,724 square-feet and includes a drive-thru. The lease calls for zero landlord obligations and increases in rent every 5 years. The site is just off US Highway 77 with 111,000 VPD. Raising Cane’s sits on a highly visible hard corner with a signalized intersection. The property is also situated near The University of Texas Rio Grande Valley, Brownsville (Serving 12,000+ Students).
The site is also located between a Walmart Supercenter and The Home Depot. The property benefits from the growing trade area.
The site is also located between a Walmart Supercenter and The Home Depot. The property benefits from the growing trade area.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,724 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2016
Price
$4,709,524
Price Per SF
$1,729
Cap Rate
5.25%
NOI
$247,250
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Land Acres
0.90 AC
Parking
33 Spaces
Frontage
36 FT on Boca Chica Boulevard
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 040896-0000-005000 | Improvements Assessment | $682,057 |
| Land Assessment | $333,604 | Total Assessment | $1,015,661 |
PROPERTY TAXES
Parcel Number
040896-0000-005000
Land Assessment
$333,604
Improvements Assessment
$682,057
Total Assessment
$1,015,661
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Raising Cane's Absolute NNN Lease | 3341 Boca Chica Blvd
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