701 E Coliseum Blvd - Fast Food FOR SALE


Fort Wayne, IN 46805- North Fort Wayne
$2,470,000 USD
317-726-7305
701 E Coliseum Blvd, Fort Wayne, IN for Sale
$2,470,000 USD
Fast Food - FOR SALE
1/9
null | 4.86% Cap Rate

701 E Coliseum Blvd
Fort Wayne, IN 46805
North Fort Wayne


OVERVIEW

Cushman & Wakefield is pleased to present for sale the leased fee interest (land ownership) in an absolute NNN, newly constructed, double drive-thru equipped Raising Cane’s investment property located in Fort Wayne, Indiana. The tenant, Raising Cane’s Restaurants, LLC, recently signed a brand new 15-year lease with five (5-year) options to extend. The lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity, Raising Cane’s Restaurants, LLC, and has zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Founded in 1996, Raising Cane’s is a highly successful QSR chicken brand with an average unit volume of $6.2M, 2.3 times the national average, and #3 in volume behind only Portillo’s and Chic-Fil-A.

FOR SALE DETAILS

PRICE

$2,470,000 USD

PRICE/SF

$748 USD /SF

CAP RATE

4.86%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Raising Cane's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,537 SF

ZONING

-

APN/PARCEL ID

02-07-24-376-001.000-073

ASK ABOUT THIS PROPERTY

Rebecca WellsCushman & WakefieldMore Info
317-726-7305

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Rebecca WellsCushman & WakefieldMore Info
317-726-7305

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