Raising Cane's NNN Property For Sale — Normal, IL
311 Veterans Parkway, Normal, IL 61761
This single-tenant Raising Cane's property in Normal, Illinois, presents an attractive net lease investment opportunity. Constructed in 2025, the property features a brand-new 15-year absolute triple-net ground lease with no landlord responsibilities, offering stable income and minimal oversight. The lease includes 10% rental escalations every five years during the primary term, along with five 5-year renewal options. Strategically located near Illinois State University, with over 21,500 students, the property benefits from a prime position to capture significant student traffic. It is the only Raising Cane's within a 50-mile radius, enhancing its market exclusivity. The site is situated at a high-traffic signalized intersection on Veterans Parkway, which sees 43,500 vehicles per day. As…
- Address: 311 Veterans Parkway, Normal, IL 61761
- Asking price $3.22M
- 4.50% cap rate
- NOI $145,000
- 13.7 years remaining
- NNN lease
- Year built: 2025
- Building size: 2,818 SF
- Lot size: 1.06 acres
- Lease expiration: Jun 3, 2040
- Rent increases: 10% every 5 years
- Guarantor: Corporate
Location
This Raising Cane's property is at 311 Veterans Parkway in Normal, Illinois.
Asset type: QSR