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1611 N 18th St 2,932 SF Retail Building Springfield, OR 97477 $2,885,226 CAD ($984.05 CAD/SF) 6% Cap Rate
Investment Highlights
- Long - Term Absolute NNN Lease
- Strong Traffic Counts
- Annual Rental Increases Staring July 2027
- Established 40+ Year Burger King Location
- Dense Consumer Base
- WinCo - Anchored Retail Synergy
Executive Summary
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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,932 SF
Building Class
C
Year Built
1976
Price
$2,885,226 CAD
Price Per SF
$984.05 CAD
Cap Rate
6%
NOI
$173,114 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.57 AC
Zoning
N/A - N/A
Parking
15 Spaces (5.12 Spaces per 1,000 SF Leased)
Frontage
54’ on 18th St
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1912391 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,748,540 CAD |
Property Taxes
Parcel Number
1912391
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,748,540 CAD
Contacts
-
Edward Otocka -
Robert Stein -
Amelia Haydock -
Glen Kunofsky -
Christopher Marks -
Surmount
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1611 N 18th St
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