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  1. For Sale
  2. Retail
  3. OR
  4. Springfield
  5. Burger King
Pictures of Retail property located at 1611 18th St, Springfield, OR 97477 for sales - image #1
Pictures of Retail property located at 1611 18th St, Springfield, OR 97477 for sales - image #2
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Burger King

Retail | 5.75% CAP | 2,932 SF

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Asking Price: $2,124,035
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Listing Broker NameBrian Brockman
Brokerage NameBang Realty-Oregon, Inc
Address 

1611 18th St, Springfield, OR 97477

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Date Added
Dec 14, 2023
Days on Market
457 days
Time Since Last Update
53 days

Details

Property TypeRetail
SubtypeQSR/Fast Food
Investment TypeNet Lease
Investment Sub TypeRestaurant
Lease TypeNNN
TenancySingle
Brand/TenantBurger King
Lease Term20.1 years
Lease Commencement06/01/2021
Lease Expiration06/30/2041
Remaining Term16.3 years
Square Footage2,932
Price/Sq Ft$724.43
Cap Rate5.75%
NOI$122,132
Year Built1976
Lot Size (acres)0.57

Marketing Description

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.​

Investment 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

✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years

✓ Long Term Tenancy | Burger King has Been Operating at this Location for 40+ Years

Valuation Calculator

Valuation Calculator

Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$122,132.00
$10,177.67/mo

Valuation Metrics

0
DSCR
5.75%
Cap Rate
5.75%
ROI

Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

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Listing Contacts

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Broker Name
Brian Brockman
Broker License
201236414
Brokerage Name
Bang Realty-Oregon, Inc
Brokerage Address
10260 SW Greenburg Rd 4th Floor Portland, OR 97223
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