For Sale
$6,700,000

100 State Road 7Royal Palm Beach, FL 33411

Florida QSR Investment, Strong ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple interest ground lease to Raising Cane's, a rapidly expanding fast-food chain, located at 100 N State Rd 7, Royal Palm Beach, FL 33411. The property, built and renovated in 2022, boasts a 3,267 square foot building situated on a 1.3-acre lot. Currently operating under a 15-year NNN lease (with 13.1 years remaining) commencing August 21, 2022, and expiring August 20, 2037, this single-tenant property offers exceptional stability and predictable cash flow. The lease includes a corporate guarantee and 10% rent bumps every five years, ensuring consistent growth. The property generates a strong Net Operating Income (NOI) of $250,000, resulting in a compelling 3.75% cap rate. This high-performing Raising Cane's location ranks within the top 20% nationally and 8th in Florida, experiencing over 235,000 customer visits annually. The site benefits from a dense population (over 193,000 people within a 5-mile radius) and high traffic counts exceeding 115,000 cars daily. This is a rare opportunity to acquire a premier, high-performing QSR investment with a long-term lease and significant upside potential. The asking price is $6,700,000. Five lease options are included.

Highlights

  • $6,700,000 Asking Price for a Net Leased Raising Cane's in Royal Palm Beach, FL.
  • 15-year NNN lease with a corporate guarantee, commencing August 21, 2022, and expiring August 20, 2037 (13.1 years remaining).
  • 3,267 square foot building on a 1.3-acre lot, built in 2022.
  • 100% occupancy with a current NOI of $250,000 and a 3.75% cap rate.
  • Strong tenant: Raising Cane's, a rapidly growing fast-food chain with over 749 locations and exceeding $2.28B in annual revenue. This location is a top performer.
  • Excellent location with high traffic counts (over 115,000 cars daily) and a dense population (over 193,000 people within a 5-mile radius). Rent bumps at 10% every 5 years. Broker co-op available.

Property Details for 100 State Road 7

Property type
Retail properties
Square Feet
3,267 SF
Year Built/Renovated
2022/2022
Buildings
1
Stories
1
Lot Size (sq. ft)
56,628 SF
Units
1

Location Insight

City
Royal Palm Beach
County
Palm Beach
State
Florida
Latitude
26.68187185
Longitude
-80.20171847
100 State Road 7, Royal Palm Beach, Florida

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100 State Road 7
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