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Raising Canes 823 Jefferson rd 3,475 SF Retail Building Rochester, NY 14623 $5,000,000 ($1,438.85/SF) 5% Cap Rate
Executive Summary
First Raising Cane’s in Upstate New York: This location represents a significant market-entry opportunity as the first Raising Cane’s in Upstate New York, with the nearest existing location approximately 195 miles away in Albany, creating a highly differentiated and geographically strategic investment.
Corporate-Guaranteed Absolute NNN Ground Lease: Backed by Raising Cane’s corporate guarantee, the 15-year Absolute NNN ground lease provides investors with a highly passive ownership structure and minimal landlord responsibilities, while benefiting from a nationally recognized, high-growth restaurant operator.
Strong Local Demographics: The property is positioned within a highly populated and affluent trade area, with approximately 168,532 residents and $95,750 average household income within five miles.
45-Year Potential Lease Term: The initial 15-year lease is complemented by six (6) five-year renewal options, providing the potential for up to 45 years of total occupancy and exceptional long-term income visibility.
Contractual 10% Rent Growth: The lease features 10% rent increases every five years, providing predictable NOI growth and a built-in hedge against inflation while enhancing long-term investment returns.
Nationally Recognized, High-Growth Tenant: Raising Cane’s is one of the nation’s fastest-growing QSR brands, providing investors with exposure to a highly sought-after, creditworthy restaurant tenant with a proven operating model and significant national expansion strategy.
Corporate-Guaranteed Absolute NNN Ground Lease: Backed by Raising Cane’s corporate guarantee, the 15-year Absolute NNN ground lease provides investors with a highly passive ownership structure and minimal landlord responsibilities, while benefiting from a nationally recognized, high-growth restaurant operator.
Strong Local Demographics: The property is positioned within a highly populated and affluent trade area, with approximately 168,532 residents and $95,750 average household income within five miles.
45-Year Potential Lease Term: The initial 15-year lease is complemented by six (6) five-year renewal options, providing the potential for up to 45 years of total occupancy and exceptional long-term income visibility.
Contractual 10% Rent Growth: The lease features 10% rent increases every five years, providing predictable NOI growth and a built-in hedge against inflation while enhancing long-term investment returns.
Nationally Recognized, High-Growth Tenant: Raising Cane’s is one of the nation’s fastest-growing QSR brands, providing investors with exposure to a highly sought-after, creditworthy restaurant tenant with a proven operating model and significant national expansion strategy.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,475 SF
Building Class
B
Year Built
2026
Construction Status
Under Construction
Price
$5,000,000
Price Per SF
$1,438.85
Cap Rate
5%
NOI
$250,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
7.12 AC
Zoning
05 - COMME - Commercial
Amenities
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 263200 162.09-1-3.113 | Improvements Assessment | $277,700 |
| Land Assessment | $1,064,900 | Total Assessment | $1,342,600 |
Property Taxes
Parcel Number
263200 162.09-1-3.113
Land Assessment
$1,064,900
Improvements Assessment
$277,700
Total Assessment
$1,342,600
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