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Popeyes 1680 N 1st Pl 2,536 SF Retail Building Hermiston, OR 97838 $3,079,250 ($1,214.22/SF) 6% Cap Rate
Investment Highlights
- Strong Retail Corridor & National Co-Tenancy
- Strong Franchisee Guarantee
- Columbia River Recreation & McNary Lock & Dam Regional Draw
- Hermiston Municipal Airport
Executive Summary
Surmount is pleased to present the exclusive listing for a Popeyes located at 1680 North 1st Street, Hermiston, OR 97838. The site consists of roughly 2,536 rentable square feet of building space on an estimated .82-acre parcel of land. Popeyes is subject to a 20-year Triple Net (NNN) lease, which commenced 6/1/2023. The current annual rent is $184,755 and has scheduled increases of 1.75% Annually Starting June 2029.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Retail
Building Size
2,536 SF
Building Class
B
Year Built
2023
Price
$3,079,250
Price Per SF
$1,214.22
Cap Rate
6%
NOI
$184,755
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
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 118721 | Improvements Assessment | $11,740 |
| Land Assessment | $130,940 | Total Assessment | $142,680 |
Property Taxes
Parcel Number
118721
Land Assessment
$130,940
Improvements Assessment
$11,740
Total Assessment
$142,680
Contacts
-
Edward Otocka -
Amelia Haydock -
Robert Stein -
Glen Kunofsky -
Christopher Marks -
Surmount
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Popeyes | 1680 N 1st Pl
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