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Raising Cane's | New 15yr Corp NNN Grd Lse SEC Bear Valley Rd 3,546 SF Retail Building Apple Valley, CA 92308 $5,600,000 ($1,579.24/SF) 5% Cap Rate

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Investment Highlights

  • New 15 Year Lease | Options To Extend | Scheduled Rental Increases Corporate Guaranteed | Brand New Construction
  • New Sprouts-Anchored Retail Development | Dense Retail Corridor 84,600 VPD Intersection | Jess Ranch Marketplace (6.8M+ Visits)
  • NNN | Leased Fee Ownership | Minimal Landlord Responsibilities
  • Strong Demographics In 5-Mile Trade Area | Area Development

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NNN, corporate guaranteed, Raising Cane’s investment property located in Apple Valley, California. The tenant, Raising Cane’s Restaurants, LLC, recently signed a brand new 15 year lease with 3 (5-year) options and 1 (4-year) option to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

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
Construction Status
Under Construction
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 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
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 Major Retailers

Wells Fargo
Oggi's Pizza & Brewing
Applebee's
Ono Hawaiian BBQ
Starbucks
Bank of America
U.S. Bank
Chase Bank
Stater Bros Markets
Citizens Business Bank

Property Taxes

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.
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.
  • Listing ID: 34733066

  • Date on Market: 2/5/2025

  • Last Updated:

  • Address: SEC Bear Valley Rd, Apple Valley, CA 92308

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