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Black Bear Diner 237 SW 4th St 3,918 SF Retail Building Madras, OR 97741 $2,450,000 ($625.32/SF) 6.65% Cap Rate
Investment Highlights
- Lease structured as Absolute NNN — tenant is responsible for all costs including roof, structure, and parking lot
- 10% base rent escalations every 5 years, providing investors with built-in inflation protection and growing NOI / overall return
- Black Bear Diner ranked among the top 113 restaurant chains nationally by Nation’s Restaurant News (2025)
- Base lease term runs through May 31, 2035, with two (2) additional 5-year options extending potential tenancy through May, 2045
- Percentage rent clause: Historically has provided additional income offering additional upside tied to tenant performance
- Ranked #4 in customer satisfaction in the mid-scale dining segment by Nation’s Restaurant News America’s Favorite Chains survey
Executive Summary
Tim Campbell
License # 950100171, 790100087 (OR)
Campbell Commercial Real Estate
701 High Street, #300, Eugene, OR 97401
(866) 889-0550
License # 950100171, 790100087 (OR)
Campbell Commercial Real Estate
701 High Street, #300, Eugene, OR 97401
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,918 SF
Building Class
C
Year Built
1978
Price
$2,450,000
Price Per SF
$625.32
Cap Rate
6.65%
NOI
$162,840
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.36 AC
Zoning
C2
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Founded in Mt. Shasta, California, in 1995, Black Bear Diner is a place where anyone can enjoy good food and good times in a place that feels like home. Black Bear Diner serves up hearty portions of classic house-made comfort food in the inviting atmosphere of a mountain cabin. And they've made so many friends along the way that the franchise has grown to 127 locations in 13 states and been consistently ranked as one of the smartest growing brands in the restaurant industry.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 111311-AA-08000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $458,500 |
Property Taxes
Parcel Number
111311-AA-08000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$458,500
Contacts
-
Maxwell Aunger -
Chad Kurz -
Kevin Puder -
Matthews Real Estate Investment Services
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