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Raising Cane's | New 15yr Corp NNN Grd Lse 19399 Bear Valley Rd 3,546 SF Retail Building Apple Valley, CA 92308 $5,600,000 ($1,579.24/SF) 5% Cap Rate
Investment Highlights
- Absolute NNN investment opportunity on a brand-new lease with Raising Cane’s, offering passive, reliable income and zero landlord responsibilities.
- Prime location just off the intersection of Bear Valley Road and Apple Valley Road, with exceptional visibility to over 59,200 daily vehicles.
- Near the Jess Ranch Marketplace, one of the nation’s highest traffic shopping centers that attracts over 6.8 million annual visitors.
- 15-year lease term plus renewal options, with 10% rent increases every five years or at the beginning of option periods for sustained NOI growth.
- Newly constructed retail development, anchored by Sprouts Market, within a dense retail corridor that draws strong crossover exposure.
- Robust 5-mile demographics include 137,000+ residents with an average household income over $83,000 and more than $1.4B in annual consumer spending.
Executive Summary
SRS National Net Lease presents an exceptional investment to acquire the leased fee interest in an absolute NNN, corporate-guaranteed Raising Cane’s property, ideally located at 19399 Bear Valley Road in Apple Valley, California.
This newly constructed freestanding asset benefits from a brand-new lease with Raising Cane’s Restaurant LLC, one of the fastest-growing restaurant brands in the nation, now boasting more than 900 locations across over 40 states. The tenant’s commitment to this premier site is reflected in a 15-year lease agreement, complemented by three 5-year renewal options and an additional 4-year option. The lease structure provides 10% rental increases every five years for the original term, and at the commencement of each option period, ensuring consistent growth in net operating income and a reliable hedge against inflation. With absolute NNN terms and no landlord responsibilities, this investment delivers truly passive, dependable rental income.
19399 Bear Valley Road is set within the newest retail development in Apple Valley and Northern San Bernardino County, occupying a prominent northwest pad with significant street frontage, an ideal configuration for a fast-food operator. Positioned with direct visibility along Bear Valley Road, the property can be seen by more than 59,200 vehicles per day, strategically near the high-traffic intersection with Apple Valley Road offering an added 25,400 daily vehicles. The intersection is home to a robust lineup of national and credit tenants such as Home Depot, Target, Stater Bros, Lowe’s, and the highly trafficked Jess Ranch Marketplace. The Marketplace ranks in the top 98th percentile of shopping centers nationwide, attracting more than 6.8 million visitors annually with industry-leading tenants such as WinCo Foods, Cinemark, 24 Hour Fitness, Burlington, and Best Buy. This high-traffic environment amplifies the draw for Raising Cane’s and ensures a steady stream of potential customers.
The surrounding area delivers a compelling investment market with desirable demographics when looking within 5 miles of the property. With more than 137,000 residents and 28,900 employees in the region, the area provides an expanding customer base that earns an average household income exceeding $83,800. These affluent residents drive over $1.4 billion in annual consumer spending, providing a solid foundation for continued retail success.
With a long-term, guaranteed lease backed by a top-tier restaurant brand and a prime location in a rapidly developing retail corridor, 19399 Bear Valley Road stands out as a premier, management-free retail investment opportunity.
This newly constructed freestanding asset benefits from a brand-new lease with Raising Cane’s Restaurant LLC, one of the fastest-growing restaurant brands in the nation, now boasting more than 900 locations across over 40 states. The tenant’s commitment to this premier site is reflected in a 15-year lease agreement, complemented by three 5-year renewal options and an additional 4-year option. The lease structure provides 10% rental increases every five years for the original term, and at the commencement of each option period, ensuring consistent growth in net operating income and a reliable hedge against inflation. With absolute NNN terms and no landlord responsibilities, this investment delivers truly passive, dependable rental income.
19399 Bear Valley Road is set within the newest retail development in Apple Valley and Northern San Bernardino County, occupying a prominent northwest pad with significant street frontage, an ideal configuration for a fast-food operator. Positioned with direct visibility along Bear Valley Road, the property can be seen by more than 59,200 vehicles per day, strategically near the high-traffic intersection with Apple Valley Road offering an added 25,400 daily vehicles. The intersection is home to a robust lineup of national and credit tenants such as Home Depot, Target, Stater Bros, Lowe’s, and the highly trafficked Jess Ranch Marketplace. The Marketplace ranks in the top 98th percentile of shopping centers nationwide, attracting more than 6.8 million visitors annually with industry-leading tenants such as WinCo Foods, Cinemark, 24 Hour Fitness, Burlington, and Best Buy. This high-traffic environment amplifies the draw for Raising Cane’s and ensures a steady stream of potential customers.
The surrounding area delivers a compelling investment market with desirable demographics when looking within 5 miles of the property. With more than 137,000 residents and 28,900 employees in the region, the area provides an expanding customer base that earns an average household income exceeding $83,800. These affluent residents drive over $1.4 billion in annual consumer spending, providing a solid foundation for continued retail success.
With a long-term, guaranteed lease backed by a top-tier restaurant brand and a prime location in a rapidly developing retail corridor, 19399 Bear Valley Road stands out as a premier, management-free retail investment opportunity.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,546 SF
Building Class
B
Year Built
2026
Price
$5,600,000
Price Per SF
$1,579.24
Cap Rate
5%
NOI
$280,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
11.80 AC
Zoning
GC - General Commercial
Parking
31 Spaces (8.74 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
About Mojave River Valley
The Mojave River Valley is one of Southern California's most affordable housing markets. It offers access to various outdoor recreational activities and National Parks. About 450,000 people live in the valley area, which includes Apple Valley, Adelanto, Hesperia, and Victorville.
The area is strategically located between Los Angeles and Las Vegas along Interstate 15 in the Inland Empire. Victorville is one of the largest areas of the region and has had success luring new businesses to the area, which is headlined by Amazon. Among retailers, Pick ‘n Save recently opened in Victorville, and Grocery Outlet opened in Apple Valey. New retail pads near Interstate 15 heading toward Las Vegas or Interstate 40 heading to Arizona have been in high demand.
The development of the Brightline West rail line from Las Vegas to Rancho Cucamonga is poised to increase travelers and commerce in the Mojave River Valley, improving its economic viability. The new rail line, which includes stations in Apple Valley and Hesperia, could initiate service as early as 2028 before the Summer Olympics.
Demographics
Demographics
1 mile
3 mile
5 mile
15 min drive
2024 Population
3,510
55,627
137,915
216,549
2029 Population
3,544
57,103
140,791
219,939
2024-2029 Projected Population Growth
1.0%
2.7%
2.1%
1.6%
Median Age
63.4
40.2
36.6
36.2
College Degree + Higher
26%
21%
15%
9%
Daytime Employees
3,041
10,632
28,953
52,081
Total Businesses
303
1,557
4,220
7,823
Average Household Income
$82,377
$102,195
$83,888
$90,524
Median Household Income
$62,295
$80,680
$64,347
$69,623
Total Consumer Spending
$52.3M
$715.3M
$1.5B
$2.3B
2024 Households
1,700
19,528
45,313
69,309
Average Home Value
$446,121
$499,541
$425,820
$457,301
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| El Pollo Loco | - | - | 3 min walk |
| Linko Sushi | Japanese | $$$ | 4 min walk |
| Ono Hawaiian BBQ | - | - | 7 min walk |
| Oggi's Pizza & Brewing | Pizza | $ | 9 min walk |
| Jersey Mike's Subs | - | - | 10 min walk |
| Starbucks | Cafe | $ | 9 min walk |
| The Galley Fish Tacos | Seafood | $ | 10 min walk |
| Chipotle Mexican Grill | - | - | 11 min walk |
Retail |
||
|---|---|---|
| Wells Fargo Bank | Bank | 3 min walk |
| Walgreens | Drug Store | 5 min walk |
| Lowe’s | Home Improvement | 6 min walk |
| Target | Dept Store | 9 min walk |
| The UPS Store | Business/Copy/Postal Services | 11 min walk |
| Burlington | Dept Store | 13 min walk |
Hotels |
|
|---|---|
| Fairfield Inn |
96 rooms
10 min drive
|
| Avid |
87 rooms
10 min drive
|
| Quality Inn |
68 rooms
11 min drive
|
| Home2 Suites by Hilton |
105 rooms
12 min drive
|
Property Taxes
| Parcel Number | 0434-021-37 | Improvements Assessment | $0 |
| Land Assessment | $1,893,528 | Total Assessment | $1,893,528 |
Property Taxes
Parcel Number
0434-021-37
Land Assessment
$1,893,528
Improvements Assessment
$0
Total Assessment
$1,893,528
Sale Advisors
Sale Advisors
Patrick Luther, Managing Principal and Co-Founder
Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $3 billion in closed transactions, representing over 2,000 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 50 professionals handling all net lease transactions for the firm nationally. He focuses on single-tenant, NNN-leased investments, including national portfolios, merchant developer representation, sale-leasebacks, lease restructuring, vacant and dark store redevelopment or liquidation, and zero cash flow transactions.
Patrick graduated from Arizona State University with a bachelor’s degree in finance. Patrick was recognized alongside business partner, Matthew Mousavi, in 2019 as a top three net lease team in the U.S. and the seventh-ranked team in the overall U.S. commercial real estate industry. He is an active member of the International Council of Shopping Centers (ICSC) and CCIM communities and can be found rock climbing or traveling internationally in his free time.
Patrick graduated from Arizona State University with a bachelor’s degree in finance. Patrick was recognized alongside business partner, Matthew Mousavi, in 2019 as a top three net lease team in the U.S. and the seventh-ranked team in the overall U.S. commercial real estate industry. He is an active member of the International Council of Shopping Centers (ICSC) and CCIM communities and can be found rock climbing or traveling internationally in his free time.
Matthew Mousavi, Sr. Managing Principal, Co-Head of National Net
Matthew is the Senior Managing Principal & Co-Head of National Net Lease and West Investment Properties, part of SRS' Capital Markets. Our National Net Lease services are recognized as one of the top three net lease investment teams in the nation. SRS Real Estate Partners is the largest retail estate firm in North America exclusively dedicated to retail services. The firm has a track record spanning over 30 years with billions in transaction volume and represents over 400 retailers throughout the country. Matthew currently is a member of the Board of Directors for SRS Real Estate Partners.
Matthew is widely recognized as one of the most active and reputable investment brokers in the country, receiving numerous industry accolades with a track record in excess of $12 billion in transaction volume, including on behalf of the largest property owners domestically and abroad, comprised of both publicly traded entities and private investors. Matthew currently manages a team of over 75 professionals focusing exclusively on the sale of single-tenant and multi-tenant retail properties and manages the sale of more than $2 billion in available property in over 40 states.
He advises clients in the acquisition and disposition of retail investment properties nationwide and is especially adept at aggressively and diligently marketing properties in order to meet the owners’ objectives of price and timing. Matthew’s experience includes hundreds of single-tenant transactions, structured portfolio sales, multi-unit national sale-leaseback portfolio sales, stable core multi-tenant centers, neighborhood, community and power centers, developer sales and pre-sales, and distressed asset sales throughout the U.S.
Matthew is widely recognized as one of the most active and reputable investment brokers in the country, receiving numerous industry accolades with a track record in excess of $12 billion in transaction volume, including on behalf of the largest property owners domestically and abroad, comprised of both publicly traded entities and private investors. Matthew currently manages a team of over 75 professionals focusing exclusively on the sale of single-tenant and multi-tenant retail properties and manages the sale of more than $2 billion in available property in over 40 states.
He advises clients in the acquisition and disposition of retail investment properties nationwide and is especially adept at aggressively and diligently marketing properties in order to meet the owners’ objectives of price and timing. Matthew’s experience includes hundreds of single-tenant transactions, structured portfolio sales, multi-unit national sale-leaseback portfolio sales, stable core multi-tenant centers, neighborhood, community and power centers, developer sales and pre-sales, and distressed asset sales throughout the U.S.
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Raising Cane's | New 15yr Corp NNN Grd Lse | 19399 Bear Valley Rd
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