5503 Commercial St SE, Salem, OR

Listing agent Glen Kunofsky License #49KU1129178

Listing office NNN Pro Group g***@nnnpro.com Show Phone

Listing date Sep 18, 2023

Source Moodyscre

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Overview

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.

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Salem

County

Marion

State

Oregon

Longitude

-123.027

Latitude

44.8756

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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 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.