Burger King 1611 18th St 2,932 SF Retail Building Springfield, OR 97477 $2,124,035 ($724.43/SF) 5.75% Cap Rate

INVESTMENT HIGHLIGHTS

  • Long Term, 20-Year Lease that Commenced in June 2021 – Over 17 Years Remaining
  • Attractive Rental Increases of 1.50% Annually Beginning in Year 7
  • Absolute Triple-Net (NNN) Lease with Zero Landlord Responsibilities

EXECUTIVE SUMMARY

NNN Pro Group is pleased to present the exclusive listing for a Burger King located at 1611 18th Street, Springfield, OR. The site consists of roughly 2,932 rentable square feet of building space on an estimated 1.00 acres of land. This Burger King is subject to a 20-year absolute triple net (NNN) lease which commenced June 1st, 2021, and has over 17 years remaining.. The base rent is $122,132 and will increase by 1.50% percent annually starting in year seven and continuing throughout the base term and into each of the four (4), five (5)-year tenant renewal option periods.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,932 SF
Year Built
1976
Price
$2,124,035
Price Per SF
$724.43
Cap Rate
5.75%
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

Cross Fit Intensify
Umpqua Bank
KeyBank
U.S. Bank
MOD Pizza
Starbucks
Winco Foods
Anytime Fitness
Dutch Bros. Coffee
Albertsons

PROPERTY TAXES

  • Listing ID: 30369423

  • Date on Market: 12/14/2023

  • Last Updated:

  • Address: 1611 18th St, Springfield, OR 97477