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RAISING CANE'S 14385 W Bell Rd 3,470 SF Retail Building Surprise, AZ 85374 $5,500,000 ($1,585.01/SF) 4.80% Cap Rate

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Investment Highlights

• Single Tenant Net Leased Investment featuring a freestanding Raising Cane’s quick service restaurant with drive thru service
• Strong Passive Income generating approximately $264,000 in annual NOI under a Triple Net lease structure with minimal landlord responsibilities
• High Visibility Retail Corridor positioned along Bell Road in Surprise, Arizona, surrounded by strong national retailers and continued regional grow

• Long Term Lease Stability with approximately 12 years remaining on the base lease term, expiring October 2036, plus three additional five year renew
• Modern Build to Suit Construction with a 3,470 square foot building completed in 2017 on a 1.25 acre site designed specifically for Raising Cane’s o

Executive Summary

14385 W Bell Rd is a single tenant net leased quick service restaurant located along the Bell Road retail corridor in Surprise, Arizona. The 1.25 acre site is improved with a 3,470 square foot freestanding drive thru building constructed in 2017. Zoned PAD and situated in Flood Zone, the property benefits from strong retail synergy and regional growth. The asset is leased to Raising Cane’s under a triple net reverse build to suit structure with approximately 12 years remaining on the base term, expiring October 2036, plus renewal options. The property is projected to generate approximately $264,000 in annual net operating income.
The property is currently leased to Raising Cane’s through October 11, 2036, with three additional five year options to extend thereafter. The current annual rent is $264,000, equating to $22,000 per month. The lease is structured as Triple Net NNN, providing minimal landlord responsibilities and stable income. The restaurant was constructed in 2017 as a reverse build to suit and has operated at this location since commencement in January 2017. Raising Cane’s was founded in 1996 in Baton Rouge, Louisiana, and has grown to more than 900 locations nationwide, making it one of the fastest growing quick service restaurant brands in the United States.

Raising Canes- Brochure

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Fast Food

Building Size

3,470 SF

Building Class

Year Built

2017

Price

$5,500,000

Price Per SF

$1,585.01

Cap Rate

4.80%

NOI

$264,000

Tenancy

Single

Building Height

1 Story

Building FAR

0.06

Lot Size

1.25 AC

Zoning

PAD

Restaurant

Signage

Drive Thru

Accommodation and Food Services
99,999 SF
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Jan 0000

A Restaurant that only serves Chicken Fingers? The business plan received the lowest grade in a college class because the professor said it wouldn’t work. When he tried to get loans, the banks said no, but Todd wasn’t giving up. Raising Cane's Chicken Fingers is an American fast-food restaurant chain specializing in chicken fingers founded in Baton Rouge, Louisiana by Todd Graves. Raising Cane’s is active in their Communities, supporting local organizations for causes that are close to their heart — but they can’t do it alone! Get in touch today to help them support their Community.