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US Foods CHEF’STORE 1355 Salem Industrial Dr NE 19,600 SF Retail Building Salem, OR 97301 $2,450,000 ($125/SF) 6% Cap Rate
Investment Highlights
- 5-years remaining on lease term
- Major tenant renovation in 2021
- Below market rent and provides long term upside potential
Executive Summary
- 5-years remaining on lease term
- Two 5-year options remaining with 8% bumps in rent
- US Foods is a publicly traded company (NYSE: USFD) with a BB+ credit rating
- NNN lease
- Below market rent provides long term upside potential
- 1981 construction
- Major tenant renovation in 2021
- Two 5-year options remaining with 8% bumps in rent
- US Foods is a publicly traded company (NYSE: USFD) with a BB+ credit rating
- NNN lease
- Below market rent provides long term upside potential
- 1981 construction
- Major tenant renovation in 2021
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
19,600 SF
Building Class
B
Year Built/Renovated
1981/2021
Price
$2,450,000
Price Per SF
$125
Cap Rate
6%
NOI
$147,000
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.25
Lot Size
1.82 AC
Zoning
IG - General Industrial
Parking
44 Spaces (2.24 Spaces per 1,000 SF Leased)
Frontage
224’ on Salem Industrial Dr
Amenities
- Bus Line
- Pylon Sign
- Signage
Somewhat walkable
30/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 589753 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,110,350 |
Property Taxes
Parcel Number
589753
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,110,350
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