311 S Veterans Pky - Storefront FOR SALE


Normal, IL 61761
$3,222,222 USD
847-562-8500
311 S Veterans Pky, Normal, IL for Sale
$3,222,222 USD
Storefront - FOR SALE
1/5
null | 4.5% Cap Rate

311 S Veterans Pky
Normal, IL 61761


HIGHLIGHTS

  • Prime Location Near Illinois State University – 21,500+ students
  • New Construction – Completed in early 2025
  • NNN Ground Lease – Zero landlord responsibilities
  • High-Traffic Location – Signalized intersection along Veterans Parkway (43,500 VPD)
  • Outparcel to a Top-Tier Shopping Center – Anchored by Target, Von Maur & Hobby Lobby
  • Only Raising Cane’s within a 50-mile radius

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant ground leased Raising Cane’s property located in Normal, Illinois. The property was constructed in 2025 and features a 15-year lease commencing in June. The lease is a triple net ground lease with no landlord responsibilities. There will be 10% rental escalations every five years throughout the primary term and five 5-year renewal options. The 2,818 square-foot building is strategically positioned near Illinois State University, home to over 21,500 students, with its proximity being crucial for capturing the student demographic and driving consistent traffic. Notably, this location marks the nearest Raising Cane’s within a 50-mile radius, enhancing its appeal as a unique dining option in the region. The property benefits from a high-traffic location at a sig-nalized intersection along Veterans Parkway (43,500 VPD) and serves as an outparcel to a top-tier shopping center (The Shoppes at College Hills) anchored by Target, Von Maur, and Hobby Lobby, ensuring strong retail synergy. The Shoppes at College Hills sees approximately 4.7 million visitors annually and is the #1 shopping center within a 30-mile radius, with the Target store alone attracting 1.7 million visitors each year. Additionally, it is just 10 minutes from State Farm’s headquarters, which employs 16,000 people, further boosting daytime traffic. The surrounding area features robust demographics, with over 127,000 residents within five miles and an average household income of $100,532 within three miles. Neighboring national retailers, including Hy-Vee, Jewel, Meijer, Kroger, Walmart Supercenter, and ALDI, contribute to the site’s long-term viability and sustained traffic. Raising Cane’s Chicken Fingers is a privately held fast-food chain founded in Baton Rouge, Louisiana in 1996. Raising Cane’s has grown into a successful franchise with over 800 locations across the United States and other countries such as Bahrain, Kuwait, Lebanon, Saudi Arabia, and the UAE. Known for its high-quality chicken fingers and simple menu, the restaurant’s emphasis is on quality, customer loyalty, and community involvement. The company selectively offers franchising opportunities to individuals who meet specific criteria, ensuring well-managed locations that maintain the brand’s reputation.

FOR SALE DETAILS

PRICE

$3,222,222 USD

PRICE/SF

$460 USD /SF

CAP RATE

4.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Raising Cane's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.06 AC

LAND SF

46,174 SF

ZONING

-

APN/PARCEL ID

14-26-376-029

ASK ABOUT THIS PROPERTY

Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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