Listed by SURMOUNT
$2,035,533
1611 18th Street
Details
Property Type Retail
Sub Type Restaurant
Square Footage 2,932
Cap Rate 6%
NOI $122,132
Occupancy 100%
Tenancy Single
Brand/Tenant Burger King
Lease Type NNN
Lease Term 20
Lease Expiration 06/30/2041
Remaining Term 15.1
Rent Bumps Yes
Lease Options 4, 5-Year Options
Year Built 1976
Acreage 0.570
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 06/01/2021
Ground Lease No
Ownership Fee Simple
About This Property
Marketing description
Surmount is pleased to present the exclusive listing for a Burger King located at 1611 North 18th Street, Springfield, OR 97477. The site consists of roughly 2,932 rentable square feet of building space on an estimated .57-acre parcel of land. Burger King is subject to a 20-year Triple Net (NNN) lease, which commenced 6/1/2021. The current annual rent is $122,132 and has scheduled increases of 1.50% Annually Starting July 2027.
Investment highlights
- Long - Term Absolute NNN Lease | Burger King is operating under a 20 - year Triple Net (NNN) lease with zero landlord responsibilities and stable long - term cash flow . There are +/ - 15- Years remaining on the lease.
- Established 40+ Year Burger King Location | The property operates as an established Burger King within a proven retail corridor in Springfield . Burger King has been operating at this location for over 40 - years.
- Strong Traffic Counts | The property benefits from combined traffic counts exceeding 36,000 vehicles per day nearby.
- Dense Consumer Base | More than 136,000 residents live within a 5 - mile radius of the subject property.
- Annual Rental Increases Staring July 2027 | The lease features 1.50% annual rent increases beginning in July 202 7, providing built- in income growth throughout the primary term.
- WinCo - Anchored Retail Synergy | The site benefits from strong co - tenancy alongside WinCo Foods and several national retailers that drive traffic to the immediate area .
- Surrounded By National Retailers | Nearby tenants include WinCo Foods, Walmart, CVS, Dollar Tree, Sonic, and McDonald’s.
- Excellent Regional Access | The site offers convenient access to Interstate 5 and major Springfield retail corridors.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$122,132.00
$10,177.67/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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