NNN Convenience Store
New
For Sale
$1,500,000
1645 Queen Ave Sw, Albany, OR 97322
A long-term tenant has renewed its NNN lease, with additional rental income from an on-site food truck.
Property Size2,938 SF
Lot Size0.49 Acres
Price / SF$510.55
Days on Market5
Property Features for 1645 Queen Ave Sw
General Information
Standard status
Active
Size
2,938 SF
Lot size
0.49 Acres
Taxes and HOA fees
Annual Taxes
$6,646
Listing Agency:
COPPER ROCK REAL ESTATE
Listed By:
SHELLEY HENDERSON · License #201214466
(541) 791-3333
Source:
Exprealty
Added: Oct 13
Changed: Oct 16
Last Checked: Oct 16 at 2:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COPPER ROCK REAL ESTATE
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Investment Insights
Based on property information with market context.
The 2,938-square-foot convenience store sits on a 0.49-acre property in Albany, Oregon. Its tenant, in place for 20 years, recently renewed under a 10-year NNN lease. An on-site food truck also generates rental income, and a vacant service station remains on the property. The former gas pumps have been decommissioned, and an NFA letter is in place.
Key Highlights
- 2,938‑square‑foot convenience store on 0.49 acres
- Tenant has occupied the property for 20 years
- Recently renewed 10‑year NNN lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,368
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$967,360
$967.4K
Cap Rate 7%
$690,971
$691.0K
Cap Rate 9%
$537,422
$537.4K
Market Conditions
NOI Build-Up for 2,938 SF
Gross rent
$94.8K $32.28/SF
− Vacancy
−$30.3K −$10.33/SF
EGI
$64.5K $21.95/SF
− OpEx
−$16.1K −$5.49/SF
NOI
$48.4K $16.46/SF
Area
Linn County, OR
Vacancy
32.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$967,360
Cap Rate 7%
$690,971
Cap Rate 9%
$537,422
Alternative Uses
Best Use
Specialty Retail
$691.0K
$604.6K – $806.1K
NOI $48,368 @ 7.0% cap · market cap 3.22%
Second Best
Retail
$644.9K
$564.3K – $752.4K
NOI $45,143 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$855.9K
$748.9K – $998.6K
NOI $59,913 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dari Mart
Shops & Services
3,818 visits/mo
0.4 miles
Fay's Cafe
Shops & Services
1,938 visits/mo
0.4 miles
Demographics for 97322, OR
37,148
Population
14,867
Households
2.5
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
63.3 sq mi
ZIP Area
587
Density / Sq Mi
$68,536
Median Household Income
$43,530
Median Earnings
$1,335
Median Rent
$321,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
NNN property - A long-term tenant has renewed its NNN lease, with additional rental income from an on-site food truck.
Where is this nnn property located?
The property is located at 1645 Queen Ave Sw Albany, OR.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2,938‑square‑foot convenience store on 0.49 acres; Tenant has occupied the property for 20 years; Recently renewed 10‑year NNN lease
