Absolute NNN Retail
For Sale
Contact for pricing
Pending
1940 Lancaster Drive Northeast, Salem, OR 97305
Absolute NNN retail asset with zero landlord obligations and a tenant commitment through April 2031.
Property Size2,583 SF
Days on Market126
Property Features for 1940 Lancaster Drive Northeast
General Information
Standard status
Pending
Size
2,583 SF
Property subtype
Retail
Zoning
Commercial Retail (CR)
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$118,182
Building Details
Year Built
1998
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Northmarq
Listed By:
Kevin Adatto · License #WA 85667
(503) 998-6572
Source:
Crexi
Added: May 4
Changed: Sep 5
Last Checked: Sep 4 at 4:56AM
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 Northmarq
Investment Insights
Based on property information with market context.
This for-sale absolute NNN retail property is offered on a structure described as “zero landlord obligations,” with the tenant responsible for taxes, insurance, utilities, maintenance, and roof and structure. The asset is 2,583 square feet and is presented as a fully passive investment, with the owner not managing ongoing property expenses. The current lease is described as reflecting 28 years of continuous tenancy, with an option exercised in December 2025, extending the commitment through April 2031. Two additional options remain through 2041, each with up to 10% rent increases.
The property is positioned along Salem’s primary retail corridor on Lancaster Dr, where the remarks cite 30,000 VPD, and adjacent I-5 traffic of 105,000+ VPD. National retail inventory is cited as 1M+ SF within the immediate node, and the immediate neighbors listed are WinCo and Walmart.
The provided materials also reference a growing trade area of 204,293 residents within 5 miles, projected to increase to 207,179 by 2030, with average household income noted at $91,700.
The property is positioned along Salem’s primary retail corridor on Lancaster Dr, where the remarks cite 30,000 VPD, and adjacent I-5 traffic of 105,000+ VPD. National retail inventory is cited as 1M+ SF within the immediate node, and the immediate neighbors listed are WinCo and Walmart.
The provided materials also reference a growing trade area of 204,293 residents within 5 miles, projected to increase to 207,179 by 2030, with average household income noted at $91,700.
Key Highlights
- Absolute NNN retail asset with tenant paying taxes, insurance, utilities, maintenance, roof, and structure (zero landlord obligations stated).
- Year built 1998.
- 28 years of continuous tenancy; option exercised December 2025 with tenant commitment through April 2031.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
990
Businesses Nearby
Explore this area
Business Placement
Demographics for 97305, OR
44,535
Population
15,219
Households
2.9
Avg Household Size
33
Median Age
16%
College-Educated
77%
High-School Grad
47.2 sq mi
ZIP Area
944
Density / Sq Mi
$64,581
Median Household Income
$32,554
Median Earnings
$1,386
Median Rent
$339,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Absolute NNN retail asset with zero landlord obligations and a tenant commitment through April 2031.
Where is this nnn property located?
The property is located at 1940 Lancaster Drive Northeast Salem, OR.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Absolute NNN retail asset with tenant paying taxes, insurance, utilities, maintenance, roof, and structure (zero landlord obligations stated).; Year built 1998.; 28 years of continuous tenancy; option exercised December 2025 with tenant commitment through April 2031.
