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Raising Cane's 4200 N Sterling Ave 2,862 SF Retail Building Peoria, IL 61615 $2,700,000 ($943.40/SF) 5% Cap Rate
Investment Highlights
- Brand New 15-Year Ground Lease with Rental Increases
- One of the Fastest Growing Restaurant Chains in the US | 3 Billion Plus Company
- Exceptional Visibility Just Off of I-74
- Raising Cane’s Latest Prototype with Dual Drive-Thru
- Located at Entrance to Regional Mall Along Primary Retail Corridor
- Densely Populated, Regional Trade Area
Executive Summary
Northmarq is pleased to present a rare opportunity to acquire a brand-new Raising Cane’s ground leased asset located at 4200 N Sterling Avenue, Peoria, IL (the “Property”). The Property consists of a newly constructed 2,862 square foot freestanding restaurant situated on an oversized 1.24-acre parcel. The lease is subject to a new 15-year term with zero landlord responsibilities and 7.50% rental increases every five years. These scheduled increases provide predictable rent growth and strong long-term income durability.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,862 SF
Building Class
B
Year Built
2025
Price
$2,700,000
Price Per SF
$943.40
Cap Rate
5%
NOI
$135,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.24 AC
Parking
30 Spaces (10.48 Spaces per 1,000 SF Leased)
Frontage
348’ on North Sterling Avenue
Amenities
- Corner Lot
- Dedicated Turn Lane
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
1 of 8
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Raising Cane's | 4200 N Sterling Ave
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