Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    NNN Ground Lease Raising Cane's Title is generated by Realmo AI

    239 West Nuevo Road, Perris, CA 92571

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    15.5-year absolute NNN ground lease with rental increases.

    Added:
    Nov 25, 2025
    Days on Market:
    174
    Last Refresh:
    Dec 3 at 12:45 pm

    Property Features for 239 West Nuevo Road

    General Information

    Standard status
    Active

    Building Details

    Year Built
    2024

    We can help!

    Listing Contact
    John Andreini
    John Andreini

    Listing agent John Andreini License #CalDRE #01440360

    Listing office CP Partners

    Listing date Nov 25, 2025

    Source Cppcre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CP Partners

    HighLights

    • 15.5‑year absolute NNN ground lease with Raising Cane's for a long‑term, stable income stream.
    • 10% rental increases every 5 years throughout the base term and option periods, offering increasing returns.
    • Brand‑new 2025 build‑to‑suit construction with double drive‑thru.
    • Located near Perris Marketplace, a top 5% ranked shopping center in the U.S. by annual visits.
    • Zero landlord maintenance or expense obligations, creating a truly hands‑off investment.
    • Large 1.51‑acre lot size.

    Overview

    This property features a 15.5-year absolute NNN ground lease with Raising Cane’s, including 10% rental increases every 5 years throughout the base term and option periods. Rent commenced on January 1, 2025. The property is a brand-new 2025 build-to-suit construction with a double drive-thru. As a truly “hands-off” investment, there are zero landlord maintenance or expense obligations. The lot size is large, at 1.51 acres. The subject property benefits from significant frontage on W Nuevo Road, with approximately 30,000 vehicles per day. It is also located near Perris Marketplace, a top 5% ranked shopping center in the U.S. based on annual visits per Placer.ai. Major national tenants that drive traffic to the immediate trade area include Walmart, ALDI, Food 4 Less, and Stater Bros.
    Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.225
    Latitude
    33.8

    Nearby Similar for Sale

    • $525,000
      1,224 SF

      Perris Commercial Condo For Sale

      Commercial condo in Perris, CA, with easy freeway access.
      130 Walnut W Avenue, Perris, CA 92571
      View Details
    • $2,200,000
      7,500 SF

      Perris Retreat Facility and Worship

      13.88 acre retreat facility and place of worship.
      21871 Richard, Perris, CA 92570
      View Details
    • $1,999,000
      5,616 SF

      Perris Industrial Warehouse with Offices

      Industrial warehouse with offices, fenced yard, and included furnishings.
      3456 Webster, Perris, CA 92571
      View Details
    • $7,500,000
      1,000 SF

      49-Acre Property on Cajalco Rd

      Prime land with high visibility and growth potential in Perris.
      19255 Wood, Perris, CA 92570
      View Details
    • $200,000

      Perris Land with Covered Structure

      Flat lot with a large covered structure, street access.
      20970 Rider, Perris, CA 92570
      View Details
    • $1,999,000
      5,616 SF

      Industrial Warehouse with Office Space

      5616 sqft warehouse with offices, mezzanine, and fenced yard.
      3456 Webster, Perris, CA 92571
      View Details
    • $525,000
      1,224 SF

      Perris Flex Space Condo

      Flex space condo with office area and easy freeway access.
      130 Walnut W Ave A-17, Perris, CA 92571
      View Details
    • $1,299,500
      1,876 SF

      New Commercial Building in Downtown

      High-visibility commercial building ideal for medical or professional use.
      378 W 4th, Perris, CA 92570
      View Details
    • $1,250,000
      5,895 SF

      Perris Multifamily Property with Development Potential

      1.1 acre lot with 5 units, pool, and development potential.
      4439 Wade Avenue, Perris, CA 92571
      View Details
    • Contact for pricing
      80,490 SF

      Freeway Plaza Retail Opportunity

      80,490 SF shopping center with freeway frontage in Perris.
      333 - 411 Wilkerson Ave, Perris, CA 92570
      View Details
    • $3,540,000
      12,000 SF

      Perris Industrial/Manufacturing Opportunity

      Industrial/Manufacturing property near key locations with access to major transportation.
      328 Malbert St., Unit B, Perris, CA 92570
      View Details
    • Contact for pricing
      11,680 SF

      Perris Industrial Property Available

      Industrial property available for sale or lease in Perris.
      1375 Nandina Ave, Perris, CA 92571
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - 15.5-year absolute NNN ground lease with rental increases.
    Where is this drive through restaurant located?
    The property is located at 239 West Nuevo Road Perris, CA.
    What are key features of this property?
    This property features: 15.5‑year absolute NNN ground lease with Raising Cane's for a long‑term, stable income stream.; 10% rental increases every 5 years throughout the base term and option periods, offering increasing returns.; Brand‑new 2025 build‑to‑suit construction with double drive‑thru.
    (415) 274-2715
    We can help!
    Listing Contact
    John Andreini
    John Andreini
    Real Estate License ID: CalDRE #01440360
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    239 West Nuevo Road, Perris, CA 92571
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!