Onalaska, WI - Raising Cane's

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Raising Cane’s investment property located in Onalaska, Wisconsin (La Crosse MSA). The tenant, Raising Cane’s Restaurants, LLC recently signed a brand new 15 year lease with 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. Raising Cane’s is one of the fastest-growing restaurant brands, with 800+ Restaurants in 40+ states, and plans to open 100 new Restaurants across several new markets in 2024.

The subject property is located along State Hwy 16, a major retail road that averages 42,500 VPD. The site benefits from nearby direct on/off ramp access to Interstate 90, a major thoroughfare that averages over 41,500 vehicles passing by daily. The property is situated as an outparcel to Valley View Mall, a 598,000+ SF regional mall, that is anchored by JCPenney, Barnes & Nobles, Hy-Vee Grocery Store, and many more. Other nearby national/credit tenants include Target, Kohl’s, Hobby Lobby, Old Navy, Sam’s, Walmart Supercenter, Home Depot, Aldi, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the asset is in close proximity to Gundersen Health (325 beds), Onalaska High School (933 students), and Eagle Bluff Elementary School (436 students), increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by over 62,000 residents and 41,000 employees, providing a direct consumer base from which to draw. Residents within a 1-mile radius of the subject property boast an affluent average household income of $105,239.