This Retail Property is Off-Market.

7135 S. Rainbow Blvd.
Las Vegas, NV 89119 ·

3,031 SF · Retail For Sale

N/A

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Raising Cane's

Price N/A Occupancy 100%
Building Size 3,031 SF No. Stories 1
Property Type Retail Tenancy Single
Property Sub-type Restaurant Year Built 2010
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 0.65 SF
Cap Rate 7%
Listing ID: 17986803 Date Created: 01/17/2013 Last Updated: 03/18/2013

Description

This offering consists of a fee simple, newer 20 year absolute NNN lease with 4- 5 yr. options and 12.5% increases every 5 years including all options. The Lease is backed by the Micatrotto Restaurant Group (MRG), the largest Franchisee for Raising Cane' s in the country, with 2 entity guarantees and 1 personal guarantee. The Group currently has the exclusive franchise and development rights in the Arizona, Nevada and soon California markets. Currently, MRG outperforms every other Franchisee and even some corporate locations by over 25% in restaurant sales. The founders, Joe Micatrotto Sr., Connie Micatrotto, Justin Micatrotto and Joe Micatrotto II , took their years of experience in the restaurant industry and decided to form a restaurant management company focusing on exceptional guest service and quality food.

The subject property is located on S. Rainbow Blvd., at the corner of W. Warm Springs Rd., just off the Hwy 215 Beltway connecting all of Las Vegas. This pad location is surrounded by a new Carl' s Jr. and Big O Tires, enjoying high visibility along this main retail corridor servicing all of SW Las Vegas. Raising Cane' s neighbors the master-planned communities of Rhodes Ranch and Summerlin, two affluent golf-resort communities, just minutes away from The Strip and McCarran Airport. The property is strategically located and surrounded by The Arroyo Market Square (1M SF Regional Power Center), Plaza Rey Center and Arroyo Ridge Shoppes; adjacent to all the major retailers including, Wal-Mart, Sam' s Club, Best Buy, Home Depot, Petco, Albertson' s, Marshall' s, Ross, Office Depot, CVS , Wells Fargo, Bank of America, Del Taco, Hooters, Starbucks and many more& Aside from retail, St. Rose Dominican Hospital is just down the street and this part of town hosts several major manufacturing and office complexes such as Freedman Inc.

Highlights

  • Long Term 20 Year Absolute NNN Lease With 4-5 Year Option - 18+ Years Remaining
  • 12.5% Rental Increases Every 5 Years, Including Options - Great Inflation Hedge
  • Premiere Location - Excellent Street Visibility with Monument Signage - Strong Sales
  • Strong Franchisee - #1 Operator for Raising Cane' s - Exclusive Franchise & Development Rights for Arizona, Nevada and California
  • Affluent Communities of Rhodes Ranch & Summerlin - Over $80,911 HHI
  • Shadow-Anchored by Arroyo Market Square - Wal-Mart & Home Depot Power Center

Research

7135 S. Rainbow Blvd., Las Vegas, NV 89119 (Clark County)

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