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5503 Commercial St SE Salem, OR 97306

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For Sale
$3,472,226

NNN leased Popeyes restaurant on a 1-acre lot.

Property size:
2,333 SF
Lot size:
0.76 Acres

Property Features for 5503 Commercial St SE

General Information

Size
2,333 SF
Lot size
0.76 Acres

Source: NNN Pro Group Agent Glen Kunofsky

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


Overview

Popeyes Restaurant in Salem, Oregon

This property features a Popeyes restaurant located at 5503 Commercial Street in Salem, Oregon. The building has approximately 2,333 rentable square feet of space and is situated on an estimated 1.00-acre parcel of land. The property is subject to a 20-year absolute triple-net (NNN) lease, which commenced on June 1st, 2023. The current annual rent is $178,945, with scheduled increases of 1.75% annually starting in year 7 and continuing into each of the four, 5-year renewal options. The property is suitable for drive-through restaurants, restaurants, retail, NNN, and specialty purposes.
Insight Report Location Intelligence

Current Use by Public Records

Popeyes Louisiana Kitchen Restaurant

Suggested Use

Realty agency Restaurant Law Firm 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
Salem
County
Marion
State
Oregon
Longitude
-123.0266186
Latitude
44.8755929

FAQs

What type of property is this?
Drive through restaurant - NNN leased Popeyes restaurant on a 1-acre lot.
Where is this drive through restaurant located?
The property is located at 5503 Commercial St SE Salem, OR.
What is the asking price?
The asking price for this property is $3,472,226.
What are key features of this property?
This property features: - 20-year absolute triple-net (NNN) lease commenced June 1st, 2023.; - Current annual rent is $178,945.; - Enjoy 1.75% annual rent increases starting in year 7 and continuing through renewal options.
More about this property
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