Raising Canes - Coralville, IA_Property for Sale
Raising Canes - Coralville, IA_Property for Sale
2800 Commerce Drive, Coralville, IA, 52241, US

Raising Canes - Coralville, IA

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present for sale a single tenant Raising Canes (the “Property” or “Asset”) offering in Coralville, IA. The Asset is strategically positioned on an outparcel of a Walmart Supercenter and Costco Wholesale, adjacent to Coral Ridge Shopping Mall, the second most visited shopping center in Iowa with 7.3 million annual visitors. Other major retailers within the corridor include Costco, Target, JC Penney, Kohl’s, and many more. The Property is located just 10-minutes from the main campus of the University of Iowa. The Asset’s precise location off Interstate 80 benefits from exposure to nearly 130,000 VPD.


The tenant opened for business in 2022 and operates on a corporately guaranteed ground lease with 13+ years of primary term remaining, 10% rent increases every 5-years and five, 5-year renewal options. This location is the only Raising Canes within a 60-mile radius and has lower rents than any other Raising Caine’s on the market.


This Asset provides an opportunity to acquire a long-term cash flow guaranteed by Raising Canes with zero landlord responsibilities in a premier corridor.


Broker of Record

AARON HYDE

Senior Vice President

License #S56270000

515.953.8834

Aaron.Hyde@jll.com

...

Attributes

Asking Price
NZ$4,243,000
Building area Gross
305 m²
Occupancy
100.00%
Year built
2023
Cap Rate
4.15%
NOI
NZ$177,000

Media

Investment Highlights

  • Less than 10-minutes from the main campus of the University of Iowa, a fully accredited institution with more than 30,000+ students
  • Directly across the street to Coral Ridge Shopping Mall, the 2nd most visited shopping center in Iowa with 7.3 million annual visitors 
  • Immediate entry and exit points to the highway gives prime exposure to nearly 130,000 vehicles daily
  • Corporately guaranteed ground lease with 13+ years remaining, 10% rent increases every 5-years, five, 5-year renewal options and lower rents than any other Raising Caine’s on the market
  • Raising Cane’s had the second highest sales per unit amongst all QSR chains in the United States in 2022



Raising Canes - Coralville, IA 4_Property for Sale
Raising Canes - Coralville, IA 4_Property for Sale

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Raising Canes - Coralville, IA (0 Properties)

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Last updated
18 Sep 2023