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1680 N 1st Pl
Hermiston, OR 97838
Popeyes · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Absolute Triple Net (NNN) Lease
- Strong Franchisee Guarantee
- New Construction
- Long -Term Lease with Annual Rental Increases Starting Year 7
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Popeyes located at 1680 N 1st Street, Hermiston, OR 97838. The site consists of roughly 2,536 rentable square feet of building space on an estimated 0.82-acre parcel of land. This Popeyes is subject to a 20-year Triple Net (NNN) lease, which commenced 6/1/2023. The current annual rent is $215,000 and has scheduled increases of 1.75% Annually Starting Year 7.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Retail
Building Size
2,536 SF
Building Class
B
Year Built
2023
Price
$3,440,000
Price Per SF
$1,356.47
Cap Rate
6.25%
NOI
$215,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.82 AC
Zoning
C-2 - Commercial
Frontage
107’ on North 1st Street
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Drive Thru
- Wheelchair Accessible
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 118721 | Improvements Assessment | $11,400 |
| Land Assessment | $127,130 | Total Assessment | $138,530 |
PROPERTY TAXES
Parcel Number
118721
Land Assessment
$127,130
Improvements Assessment
$11,400
Total Assessment
$138,530
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