1161 18Th St, Springfield, OR 97477
2,932 SF | 100% Leased | Retail Building | Springfield, OR 97477 | $2,124,035 ($724/SF) | 5.75% Cap Rate
For Sale
Active
Asking Price $2,124,035
- Property Type
-
Retail
- Square Feet
- 2,932 SF
- Price / Square Foot
- $724
Listing Contacts
- Property Info
Property 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.
Property Details
- Year Built
- 1976
- Stories
- 1
- Lot Size (sq. ft)
- 24,829 SF
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
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