4380 Commercial St Salem, OR 97302

Exceptional investment opportunity: This fee-simple, absolute NNN Walgreens property in Salem, Oregon, presents a compelling investment opportunity with a 14.3-year remaining lease term on a 15-year agreement. The property boasts a strong 6.00% cap rate and a substantial net operating income (NOI) of $277,400. Located at a signalized hard corner on Commercial Street and Hifiker Lane, this 13,367 square foot building benefits from high visibility and significant traffic volume (46,700+ vehicles daily). The lease includes attractive 5% rent bumps every five years, ensuring consistent income growth. The property is situated just three miles from Salem Hospital, the largest hospital in the region, serving a robust 5-mile trade area with over 163,000 residents and an average household income exceeding $85,000. Built in 1997, this single-story building sits on a 1.41-acre lot and benefits from a corporate guarantee from Walgreens Boots Alliance (NASDAQ: WBA), a Fortune 500 company with a BBB- S&P rating. The lease commenced February 22, 2024, and expires February 28, 2039, offering long-term stability and predictable cash flow. This is a rare opportunity to acquire a high-performing, investment-grade retail property with a blue-chip tenant and significant upside potential. The property's location, tenant strength, and lease terms combine to create a compelling investment proposition. The lease includes twelve 5-year options.