239 Old Nuevo Rd - Fast Food FOR SALE


Perris, CA 92571
$6,774,000 USD
949-412-1616
239 Old Nuevo Rd, Perris, CA for Sale
$6,774,000 USD
Fast Food - FOR SALE
1/4
null | 4.65% Cap Rate

239 Old Nuevo Rd
Perris, CA 92571


HIGHLIGHTS

  • Raising Cane's - Corporate Executed Lease / 740 locations / Over $3.5 Billion in sales
  • Absolute NNN Grounds Lease (Land Ownership)/ No Landlord Responsibilities
  • New 15-Year Lease Term Plus Options to extend
  • Growing Income Stream with 10% Rental Increases every 5 years
  • (I-215) Fwy - Convenient Access, Visibility and Strong Traffic; Signalized Hard Corner Location
  • New Construction (2025) with Double Drive-Thru | Property located within California Qualified Opportunity Zone

OVERVIEW

Faris Lee Investments is pleased to offer a brand new STNL freestanding Raising Cane’s on a new long term 15-year corporate executed absolute NNN Ground Lease (Land Ownership) with 4 (5-Year) options to extend. Raising Cane’s has 10% rental increases every 5 years through the initial term and option periods, which helps hedge against inflation and increases return on investment. Raising Cane’s is a privately-held fast-food restaurant chain specializing in chicken fingers. Raising Cane’s offers a limited menu that allows them to focus on exceptionally high quality products that are served quickly and conveniently. Raising Cane’s has approximately 749 locations across 42 states, with more than 80% being company-owned. In addition, Raising Cane’s has an average unit volume of $3.6 million, which is one the highest in the QSR industry (qsrmagazine.com). The subject property is ideally located on the SEQ of I-215 Fwy (±103,000) and W Nuevo Rd. (±10,120), which provides high daytime traffic and direct access to the on/off ramp of the I-215 Fwy. Raising Cane’s is an ideally positioned outparcel in a brand-new shopping center redevelopment accompanied by a supermarket, In-N-Out Burger, and other retail shops. Strong demographics in the immediate trade area include more than 114,500 consumers within a 5-mile radius featuring an average household income in excess of $87,000. Strong nearby national / credit tenants include Walmart, Ross Dress for Less, Burlington Stores, Bath & Body Works, and Stater Bros Market, Food4Less, Starbucks, McDonald’s, Del Taco, El Pollo Loco, & Carl’s JR. to name a few. Additionally, the property is located in a qualified opportunity zone.

FOR SALE DETAILS

PRICE

$6,774,000 USD

PRICE/SF

$1,768 USD /SF

CAP RATE

4.65%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

New Raising Cane's-15 Yr Lse / I-215 Fwy

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

Commercial Community

APN/PARCEL ID

311-050-002

ASK ABOUT THIS PROPERTY

Jeff ConoverFaris Lee InvestmentsMore Info
949-412-1616

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Jeff ConoverFaris Lee InvestmentsMore Info
949-412-1616

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.