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Raising Cane’s NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence

Raising Cane’s

Last Year Cap

5.1%

This Year Cap

5.3%

Cap Change

0.2%

Last Year Rating

BB-

This Year Rating

BB-

Rating Change

No change

Raising Cane’s – NNN Cap Rate Trend

Cap Rate Trends

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at Tenant Year Cap Rate
5779 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,020 6.5
5780 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,021 6.3
5781 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,022 6.0
5782 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,023 6.3
5783 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,024 6.6
5784 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,025 6.6
Tenant Year Cap Rate
1031 Exchange
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Credit (what net-lease buyers care about)

Credit Snapshot

Raising Cane’s

Cap Rates NNN
Last Year 5.1%
This Year 5.3%
Change 0.2%
S&P Rating CREDIT
Last Year BB-
This Year BB-
Change No change

Raising Cane’s Net Lease: Secure, Essential Investment

Raising Cane’s Chicken Fingers is a fast-growing quick-service restaurant brand and a highly sought-after net lease investment for private investors and 1031 exchange buyers. This guide reviews cap rates, lease structure, tenant growth, and key due diligence considerations for buyers and sellers.

Investors often target Raising Cane’s assets for:

  • Strong Sales Performance
  • Long-Term NNN Lease Structure
  • High-Traffic Retail Locations
  • Strong Brand Growth
  • Attractive 1031 Exchange Compatibility

Raising Cane’s Ground Lease Properties require careful analysis of rent escalations, remaining primary lease term, renewal options, landlord responsibilities, and underlying land value compared to fee simple ownership.

Raising Cane’s Ground Lease Properties for 1031 Exchange Buyers

Raising Cane’s Ground Lease Properties often trade differently than fee simple Raising Cane’s assets. Buyers should evaluate lease structure, remaining lease term, rent escalations, renewal options, landlord responsibilities, and residual land value to better understand long-term risk and return.

Raising Cane’s – Credit Trend (S&P vs Moody’s)

Tenant_Rating_Trend

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at TenantKey Tenant Year Moody SP Moody_Grade SP_Grade Moody_GradeRank SP_GradeRank
1 admin2 2025 03:43 PM admin2 2025 03:43 PM 7eleveninc 7-Eleven, Inc. 2022 Baa2 A Lower Medium Grade Upper Medium Grade 5 6
2 admin2 2025 03:43 PM admin2 2025 03:43 PM 7eleveninc 7-Eleven, Inc. 2023 Baa2 A Lower Medium Grade Upper Medium Grade 5 6
3 admin2 2025 03:43 PM admin2 2025 03:43 PM 7eleveninc 7-Eleven, Inc. 2024 Baa2 A Lower Medium Grade Upper Medium Grade 5 6
4 admin2 2025 03:43 PM admin2 2025 03:43 PM 7eleveninc 7-Eleven, Inc. 2025 Baa2 A Lower Medium Grade Upper Medium Grade 5 6
5 admin2 2025 03:43 PM admin2 2025 03:43 PM 99centsonlystoresllc 99 Cents Only Stores, LLC 2022 Caa2 CCC+ Substantial Risk Substantial Risk 2 2
TenantKey Tenant Year Moody SP Moody_Grade SP_Grade Moody_GradeRank SP_GradeRank

Raising Cane’s Investment Market Statistics

AVERAGE SALE PRICE

$5,500,000

BUILDING SIZE

2,500 – 3,500 SF

AVERAGE NOI

$275,000

LAND

1.0 – 1.5 Acres

$/SF RANGE

$1,260 – $1,808/SF

LEASE TERM SHOWN

20 years

Raising Cane’s Investor Snapshot (Quick Facts)

Origins & Growth (Past)

  • Founded in 1996 in Baton Rouge, Louisiana
  • Started near Louisiana State University
  • Expanded rapidly across Southern U.S. markets
  • Built strong drive-thru focused restaurant model
  • Developed cult-like customer following
  • Became one of the fastest-growing QSR brands
 

Where Raising Cane’s Stands Today

  • Rapidly expanding national restaurant brand
  • Strong drive-thru focused business model
  • High average unit sales volumes
  • Majority corporate-operated locations
  • Expanding into major U.S. metro markets
  • Focused on operational simplicity and efficiency

Where Raising Cane’s Stands Today

  • Continued nationwide restaurant expansion
  • Increased drive-thru and digital ordering demand
  • Strong customer loyalty and brand recognition
  • High-volume sales performance across markets
  • Expanding presence in major retail corridors
  • Focused menu supports operational efficiency
  • Benefiting from growing QSR consumer demand

Why investors buy Raising Cane’s NNN Properties or Raising Cane’s ground Lease Properties?

Pros (what buyers like)

  • Strong Brand Growth
    One of the fastest-growing QSR restaurant brands in the U.S.
  • High Customer Traffic
    Drive-thru focused model generates strong daily traffic volumes
  • Prime Retail Locations
    Typically positioned on major retail corridors and signalized intersections
  • Attractive Lease Structures
    Long-term NNN or ground leases appeal to passive and 1031 exchange buyers
  • Strong Unit-Level Sales
    Many locations report above-average QSR sales performance

Cons (what can bite you)

  • Premium Pricing
    Strong investor demand can compress cap rates and increase pricing
  • Lease Structure Variability
    Some properties may include landlord responsibilities or shorter terms
  • Operational Dependence on Drive-Thru Access
    Site performance often relies heavily on traffic flow and accessibility
  • Limited Menu Concentration
    Simple menu model creates dependence on core product demand
  • Re-Tenanting Challenges
    Single-purpose restaurant layouts may require conversion costs for future tenants

Find out more

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Raising Cane’s Background & History

Raising Cane’s Chicken Fingers is a fast-growing quick-service restaurant brand best known for its focused chicken finger menu and high-volume drive-thru business model. What began as a single restaurant near Louisiana State University evolved into one of the fastest-growing restaurant chains in the United States.

Over time, the company expanded nationwide by focusing on operational simplicity, strong customer service, and prime retail locations with high traffic visibility. Today, customers rely on Raising Cane’s locations for convenient drive-thru service, consistent food quality, and fast customer experience.

As consumer demand has shifted toward convenience and off-premise dining, the company has continued adapting through efficient drive-thru layouts, digital ordering capabilities, and streamlined operations that support high transaction volumes.

Why Raising Cane’s Matters to NNN Investors

Raising Cane’s operates a rapidly expanding national restaurant platform serving high daily customer traffic volumes. The business model is centered on a simple menu, operational efficiency, strong brand loyalty, and prime retail corridor locations.

Many Raising Cane’s properties are positioned on signalized intersections and major retail corridors with strong visibility, easy access, and drive-thru infrastructure that supports consistent customer traffic. In addition, the company continues to expand into major U.S. markets while maintaining strong unit-level sales performance.

This focus on convenience-driven restaurant real estate helps explain why Raising Cane’s remains attractive to passive investors and 1031 exchange buyers. The company continues to grow aggressively while benefiting from long-term consumer demand for quick-service dining and drive-thru convenience.

What Buyers and Sellers Should Evaluate

For investors evaluating Raising Cane’s NNN properties, a Raising Cane’s net lease, or a Raising Cane’s ground lease, the investment thesis is typically centered on real estate quality, lease structure, and long-term site performance. Buyers often place significant emphasis on lease term remaining, rent escalations, traffic counts, and drive-thru accessibility.

Common searches include Raising Cane’s real estate, Raising Cane’s cap rate, Raising Cane’s lease term, Raising Cane’s ground lease, and Raising Cane’s investment property. Ultimately, Raising Cane’s net lease value is driven by site-specific fundamentals, lease economics, and long-term operational performance.

As the quick-service restaurant sector continues evolving, the strongest Raising Cane’s locations tend to be those positioned in dense retail corridors with strong demographics, excellent visibility, and convenient vehicle access. Buyers and sellers should evaluate each property individually, including ingress and egress, traffic flow, surrounding retail synergy, population growth, nearby competition, and landlord responsibilities outlined within the lease.

In addition, investors should consider long-term cash-flow durability, drive-thru efficiency, market saturation risks, and how the property may perform across different hold periods and future exit strategies.

Corporate vs. Franchise | Store Count

Raising Cane's Chicken Fingers primarily operates under a corporate-owned model, though select franchise locations exist in limited international markets. For NNN and ground lease investors, many U.S. Raising Cane’s properties are backed by the corporate entity, helping reduce operator ambiguity and supporting stronger investor demand. In the U.S., Raising Cane’s operates hundreds of restaurant locations nationwide and continues expanding aggressively across major retail markets. For investors, lease structure, remaining lease term, drive-thru performance, and site quality often matter more than total store count alone.

Raising Cane’s Financial Snapshot

Raising Cane's Chicken Fingers operates as one of the fastest-growing privately held restaurant brands in the United States, generating billions in annual systemwide sales through high-volume quick-service restaurant operations. The company’s growth is supported by strong unit-level sales performance, operational efficiency, and continued national expansion. For net lease investors, Raising Cane’s strong brand momentum, high customer traffic volumes, and long-term expansion strategy are key factors when evaluating lease reliability and long-term income potential.

Raising Cane’s Lease Types

Most single-tenant Raising Cane's Chicken Fingers properties are structured as long-term NNN or ground leases, though lease terms can vary by asset and developer. Many Raising Cane’s investments feature absolute NNN structures with minimal landlord responsibilities, making them attractive to passive and 1031 exchange buyers. As a result, buyers should carefully review lease language, rent escalations, expense responsibilities, renewal options, and remaining lease term before underwriting and pricing the asset.

our team of experts are here for you

Our team helps investors evaluate NNN properties with practical, market-based guidance. In addition, we support buyers and sellers with lease review, pricing analysis, and due diligence strategy.

Whether you are comparing Raising Cane’s ground lease properties or fee simple Raising Cane’s assets, we can help you review the details that affect risk and long-term value. As a result, clients can make more confident decisions based on lease structure, location quality, and investment goals.

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