100 State Road 7Royal Palm Beach, FL 33411

Property Details for 100 State Road 7

Year built

2022

Lot size

1.30 AC

Property size (Sq ft)

3,267 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Royal Palm Beach

County

Palm Beach

State

Florida

Latitude

26.6819

Longitude

-80.2017

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