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    1899 Olympic St Springfield, OR 97477

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    For Sale
    $2,124,035

    Long-term Burger King NNN lease with attractive annual rent increases.

    Property size:
    2,932 SF
    Lot size:
    3.76 Acres

    Property Features for 1899 Olympic St

    General Information

    Size
    2,932 SF
    Lot size
    3.76 Acres

    Source: NNN Pro Group Agent Glen Kunofsky

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Burger King NNN Investment Opportunity

    This offering features a Burger King property located in Springfield, Oregon. The site includes a building with approximately 2,932 square feet of rentable space, situated on an estimated 0.57-acre parcel of land. The property is subject to a 20-year Triple Net (NNN) lease that began on June 1, 2021, leaving over 17 years remaining. The current annual rent is $122,132, with scheduled increases of 1.50% annually starting in year 7 of the lease. The absolute Triple-Net (NNN) lease structure assigns zero landlord responsibilities. The tenant has four, five-year renewal options, potentially extending the lease term to 40 years. Burger King has been operating at this location for over 40 years.
    Insight Report Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Lane
    State
    Oregon
    Longitude
    -122.996548
    Latitude
    44.059311

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    FAQs

    What type of property is this?
    Drive through restaurant - Long-term Burger King NNN lease with attractive annual rent increases.
    Where is this drive through restaurant located?
    The property is located at 1899 Olympic St Springfield, OR.
    What is the asking price?
    The asking price for this property is $2,124,035.
    What are key features of this property?
    This property features: - Long-term absolute NNN lease with over 17 years remaining, providing stable, passive income.; - Established Burger King tenancy with a 40+ year operating history at this location.; - Attractive annual rental increases of 1.50% starting in year 7, enhancing investment returns.
    (332) 345-2408
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    1899 Olympic St Springfield, OR 97477
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1899 Olympic St Springfield, OR 97477
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