Burger King 1611 18th St 2,932 SF Retail Building Springfield, OR 97477 $2,035,533 ($694.25/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Established Franchisee with Growing Platform
- Attractive Price Per SF in a High-Traffic Corridor
- Long-Term NNN Lease with Scheduled Rent Growth
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Burger King located at 1611 18th Street, Springfield, OR 97477. The site consists of roughly 2,932 rentable square feet of building space on an estimated 0.57-acre parcel of land. This Burger King is subject to a 20-year Triple Net (NNN) lease, which commenced 6/1/2021. The current annual rent is $122,132 and has scheduled increases of 1.50% starting July 2027.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,932 SF
Year Built
1976
Price
$2,035,533
Price Per SF
$694.25
Cap Rate
6%
NOI
$122,132
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.57 AC
Parking
6 Spaces (2.05 Spaces per 1,000 SF Leased)
Frontage
117’ on 18th Street
Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (83)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0212033 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $5,248,128 |
CONTACTS
-
Glen Kunofsky -
Edward Otocka -
Amelia Haydock -
Robert Stein -
NNN Pro Group
