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Raising Cane's | New 15yr Corp Abs NNN | DrTh SEC of Unser Blvd and Southern Blvd

3,181 SF Retail Building Rio Rancho, NM 87124 $3,435,000 ($1,080/SF) 4.28% Cap Rate

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 Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,181 SF
Building Class
B
Year Built
2024
Price
$3,435,000
Price Per SF
$1,080
Cap Rate
4.28%
NOI
$147,008
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Land Acres
1.30 AC
Zoning
Commercial
Parking
45 Spaces (14.15 Spaces per 1,000 SF Leased)

Amenities

  • Corner Lot
  • Restaurant
  • Signage
  • Signalized Intersection
  • Drive Thru
Walk Score ®
Very Walkable (77)
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
1-011-068-378-334
Land Assessment
$39,308
Improvements Assessment
$236,067
Total Assessment
$275,375
  • Listing ID: 29981753

  • Date on Market: 11/6/2023

  • Last Updated:

  • Address: SEC of Unser Blvd and Southern Blvd, Rio Rancho, NM 87124

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