Raising Canes

Retail

1406 Saint Charles Avenue New Orleans, LA
Price:
$ 5,010,458
Property Size:
1,970 sqft
Cap Rate:
5.00%
NOI:
$ 250,523
Lot Size:
0.37 acres
Year Built:
1997/2014
Status:
Sale

DOMINANT NATIONAL TENANT | #1 FASTEST GROWING CHAIN | $1.5+ BILLION ANNUAL SALES & 500+ STORE LOCATIONS
Raising Cane’s is the #1 Fastest Growing Chain according to Nation’s Restaurant News. Raising Cane’s has grown from 250 stores and $576 million in sales in 2016, to 500+ stores and $1.5 billion in sales expected
for the current fiscal year.

RARE 11.5% INCREASES EVERY 5 YEARS | 14+ YEARS OF FIRM TERM REMAINING | PASSIVE NNN LEASE
Raising Cane’s signed a 248 month (20.67) year lease in July 2014, the lease currently has approximately 14.3 years remaining in the primary term. The triple-net (NNN) lease requires zero landlord responsibilities, with the tenant being responsible for all maintenance and repairs. The lease also features rare 11.5% rental increases every 5 years during the primary term.

IRREPLACEABLE ST. CHARLES AVE. LOCATION | 1 OF 4 FAST-FOOD DRIVETHRU’S ON ST. CHARLES AVE. | MARDI GRAS PARADE ROUTE LOCATION
The subject property is located at an irreplaceable location on St. Charles Ave., which serves as a centerpiece of the world-famous annual Mardi Gras Parade and celebration which draws an estimated (600,000+ visitors) to New Orleans. Raising Cane’s is 1 of 4 Fast-Food Drive-Thru’s located on St. Charles Ave, additionally city restrictions prohibit any additional Drive-Thru’s along the 6-mile stretch of St. Charles Ave.

CENTRAL BUSINESS DISTRICT LOCATION | MAJOR RETAIL & TRAFFIC CORRIDOR | LOUISIANA HAS THE #1 BUSINESS CLIMATE
Located on St. Charles Ave., Raising Cane’s is walking distance to the New Orleans CBD, Historic Garden District, Mercedes-Benz Superdome (76,000 Seats), and New Orleans Arena (18,000 Seats). St. Charles Ave. is New Orleans major retail and traffic corridor and hosts thirty (30) of the sixty-two parades in the New Orleans area per year which generate a combined ($300 Million Economic Impact). Raising Cane’s features ncredibly fast Drive-Thru service and is strategically positioned to capture this vehicle and foot traffic. The State of Louisiana is ranked #1 for Business Climate by Business Facilities because it is a right-to-work state, features
a low tax climate, world-class infrastructure, and robust energy and healthcare sectors.

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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

Matt Berres
Executive Managing Director
949.608.2066
Karick Brown
Associate
949.608.2175
Samer Khalil
Director
949.608.2042

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