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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

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    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.
    (332) 345-2408
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    5503 Commercial St SE Salem, OR 97306
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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
    5503 Commercial St SE Salem, OR 97306
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