Jack in the Box (Lancaster)
Corporate Guarantee · Absolute NNN · 5.62% CAP
Marketing description
- Absolute NNN — Zero Landlord Obligations. Tenant pays all taxes, insurance, utilities, maintenance, roof, and structure.
- Depreciation Benefits With Zero Landlord Obligations — Investor captures full real estate depreciation on a fully passive asset — no management, no expenses, no surprises.
- 28 Years of Continuous Tenancy — Option exercised December 2025, committing through April 2031. Two options remaining to 2041 each with up to 10% rent increases. 15 years of potential term.
- Salem’s Primary Retail Corridor — 30,000 VPD on Lancaster Dr, 105,000+ VPD on adjacent I-5. 1M+ SF of national retail within the immediate node.
- $220M+ in Surrounding Annual Retail Sales per Placer.ai. WinCo ($127.9M, 2.2M visits) and Walmart ($91.4M, 3M visits) are immediate neighbors — same traffic, same customers.
- Growing Trade Area — 204,293 residents within 5 miles, projected 207,179 by 2030. $91,700 average household income.
Investment highlights
Northmarq is pleased to present the exclusive opportunity to acquire a single-tenant Jack in the Box investment located at 1940 Lancaster Drive NE in Salem, Oregon. The property is subject to an Absolute Triple Net lease with Jack in the Box Properties, LLC, a wholly owned subsidiary of Jack in the Box Inc. (NASDAQ: JACK), providing zero landlord obligations and a fully passive income stream. The tenant exercised their current option in December 2025, committing to the site through April 8, 2031, with two additional five-year options extending potential term to 2041. This is a corporate ease with 28 years of continuous tenancy at this location. The property sits on Salem’s primary retail corridor, Lancaster Drive NE, directly adjacent to one of the highest traffic retail nodes in the market, with neighboring anchors including Walmart, WinCo Foods, and Safeway.
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