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4200 N Sterling Ave
Peoria, IL 61615
Raising Cane's · Retail Property For Sale
Investment Highlights
- Brand New 15-Year Ground Lease with Rental Increases
- One of the Fastest Growing Restaurant Chains in the US | 3 Billion Plus Company
- Exceptional Visibility Just Off of I-74
- Raising Cane’s Latest Prototype with Dual Drive-Thru
- Located at Entrance to Regional Mall Along Primary Retail Corridor
- Densely Populated, Regional Trade Area
Executive Summary
Northmarq is pleased to present a rare opportunity to acquire a brand-new Raising Cane’s ground leased asset located at 4200 N Sterling Avenue, Peoria, IL (the “Property”). The Property consists of a newly constructed 2,862 square foot freestanding restaurant situated on an oversized 1.24-acre parcel. The lease is subject to a new 15-year term with zero landlord responsibilities and 7.50% rental increases every five years. These scheduled increases provide predictable rent growth and strong long-term income durability.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,862 SF
Building Class
B
Year Built
2025
Price
$3,690,738 CAD
Price Per SF
$1,289.57 CAD
Cap Rate
5%
NOI
$184,537 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.24 AC
Parking
30 Spaces (10.48 Spaces per 1,000 SF Leased)
Frontage
348’ on North Sterling Avenue
Amenities
- Corner Lot
- Dedicated Turn Lane
- Signage
- Signalized Intersection
- Drive Thru
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