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Popeyes 5503 Commercial St SE 2,333 SF Retail Building Salem, OR 97306 $3,385,783 ($1,451.26/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Triple Net (NNN) Lease
- Strong Franchisee Guarantee
- New Construction & High Visibility Site
- Long Term Lease with Annual Rental Increases
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Popeyes located at 5503 Commercial Street SE, Salem, OR 97306. The site consists of roughly 2,333 rentable square feet of building space on an estimated 1-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 $199,653 and has scheduled increases of 1.75% Annually.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,333 SF
Building Class
B
Year Built
2023
Price
$3,385,783
Price Per SF
$1,451.26
Cap Rate
6%
NOI
$203,147
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.00 AC
Zoning
CR
Frontage
160’ on Commercial St
AMENITIES
- Bus Line
- Signage
Bike Score®
Very Bikeable (75)
NEARBY MAJOR RETAILERS
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Popeyes | 5503 Commercial St SE
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