Investment Offering
Burbank, CA - Raising Cane's
1750 West Olive Avenue | Burbank, CA 91506
$385,000
NOI3,119
± SF Offering GLA0.52
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a freestanding, absolute NNN, drive-thru equipped, Raising Cane’s investment property located in Burbank, CA (Los Angeles County). The tenant, Raising Cane’s Restaurants, LLC, has 21 years remaining on its 25-year ground lease with 1 (5-year), 1 (4-year), and 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The property opened for business in June 2022 and features Raising Cane’s latest prototype. The asset is subject to one of the longest initial term QSR offerings to ever become available in Southern California. Potential Seller Financing Available (3.00%-5.00% Interest Only - Contact Agent for Details).
Location
Raising Cane’s is located directly along W. Olive Avenue, a prominent retail thoroughfare for the city of Burbank with exposure to over 30,300 vehicles daily. The property has significant amounts of highway frontage along W. Olive Ave with prominent monument signage and multiple points of ingress/egress from both adjacent streets. Interstate 5, one of California’s largest and most heavily trafficked freeways with over 221,000 vehicles passing by daily is located just 1 mile northeast of the asset. The restaurant is poised to benefit from the dense surrounding trade area home to national/credit tenants such as Walmart Supercenter, Costco, Target, Lowe’s Home Improvement, IKEA, Ralphs, BevMo!, Grocery Outlet, Hobby Lobby, and more. In addition, just 2 miles from the property is the Burbank Town Center, a three-level enclosed mall featuring more than 170 retail shops, restaurants, entertainment venues, and lifestyle services. The mall is anchored by Bed Bath & Beyond, Old Navy, Macy’s, Burlington, H&M, and AMC Theatres, further increasing consumer traffic and promoting crossover shopping within the trade area. The 5-mile trade area is supported by a population of over 547,000 residents and 332,000 daytime employees. The 1-mile trade area boasts an affluent average household income of $152,066.
Burbank is known as the “Media Capital of the World” and is only a few miles northeast of Hollywood. The area is home to numerous media and entertainment companies such as Warner Bros. Entertainment, The Walt Disney Company, Nickelodeon Animation Studios, The Burbank Studios, the West Coast branch of Cartoon Network Studios, and Insomniac Games. Raising Cane’s is ideally positioned to capture demand from the nearby employee consumer base.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215