1611 18th St - Fast Food FOR SALE


Springfield, OR 97477
$2,124,035 USD
332-345-4222
1611 18th St, Springfield, OR for Sale
$2,124,035 USD
Fast Food - FOR SALE
1/2
null | 5.75% Cap Rate

1611 18th St
Springfield, OR 97477


HIGHLIGHTS

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

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,124,035 USD

PRICE/SF

$724 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Burger King

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,829 SF

ZONING

-

APN/PARCEL ID

0212033

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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Glen KunofskyNNN Pro GroupMore Info
332-345-4222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.