Pictures of Retail property located at 5503 Commercial St SE, Salem, OR 97306 for sales - image #1

Pictures of Retail property located at 5503 Commercial St SE, Salem, OR 97306 for sales - image #2

Map View

Popeyes

Retail | 5.75% CAP | 2,333 SF

Listing Contacts

See All (4)

Glen Kunofsky
PRO
License: NY 49KU1129178
Phone Number: Sign Up or Log In to see phone number
View my profile
Amelia Haydock
PRO
License: NY: 10401334976
Phone Number: Sign Up or Log In to see phone number
View my profile

Active

Asking Price: $3,472,226

Learn more

Listing Broker NameBrian Brockman

Brokerage NameBang Realty-Oregon, Inc

Address

5503 Commercial St SE, Salem, OR 97306

Show on Map

Date Added

Feb 12, 2025

Days on Market

34 days

Time Since Last Update

34 days

Details

Property TypeRetail

SubtypeQSR/Fast Food

Investment TypeNet Lease

Investment Sub TypeRestaurant - Quick Service

Lease TypeNNN

Tenant CreditFranchisee

TenancySingle

Brand/TenantPopeyes

Lease Term20 years

Lease Commencement06/01/2023

Lease Expiration05/31/2043

Remaining Term18.2 years

Square Footage2,333

Cap Rate5.75%

Occupancy100%

NOI$199,653

Year Built2023

Lot Size (acres)1

Rent Bumps1.75% Annually

Lease Options4x5

OwnershipFee Simple

Marketing Description

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.

Investment Highlights

Absolute Triple Net (NNN) Lease | The subject investment property features an absolute triple net (NNN) lease with zero landlord responsibilities.
New Construction | The subject investment property is newly constructed, the site opened for business in December 2023.
Strong Franchisee Guarantee | The subject investment property's lease is guaranteed by Ambrosia QSR which currently operates over 200 Popeyes, Burger King, and Arby's locations throughout the Pacific Northwest.
Long Term Lease with Annual Rental Increases | The subject investment property features a long-term lease with annual rental increases, hedging against inflation.