Absolute NNN Retail
1940 Lancaster Drive Northeast Salem, OR 97305
1940 Lancaster Drive Northeast, Salem, OR, 97305
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For Sale
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Absolute NNN retail asset with zero landlord obligations and a tenant commitment through April 2031.
Property Size2,583 SF
Price / SF$813.01
Days on Market81
Property Features for 1940 Lancaster Drive Northeast
General Information
- Standard status
- Active
- Size
- 2,583 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1998
Listing agency
Northmarq - Seattle
Listed by
Sean Tufts · License #WA 74057
Source
Crexi
Added: May 4 Updated: Jul 22 at 2:17PM Checked: Jul 22 at 2:17PM
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 - Seattle
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
Location Intelligence
Current Use by Public Records
Jack in the Box
Restaurant
Similar For Sale Nearby
FAQs
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.
