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    1611 18Th St Springfield, OR 97477

    Sponsored
    For Sale
    $2,124,035

    High-yield NNN lease, strong tenant.

    Property size:
    2,932 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional investment opportunity presents a 2,932 square foot Burger King located at 1611 18th St, Springfield, OR 97477, in Lane County. The property sits on a 0.57-acre lot and boasts a strong 5.75% cap rate, generating a net operating income (NOI) of $122,132. The property features a long-term, absolute triple-net (NNN) lease with Burger King, minimizing landlord responsibilities. The lease commenced June 1st, 2021, and has a remaining term of approximately 16.6 years, with four, five-year tenant renewal options extending the potential lease term to 40 years. Built in 1976, this established location benefits from annual rent increases of 1.50% beginning in year seven, providing consistent income growth. The asking price is $2,124,035, translating to a price per square foot of $724.43. This is a rare opportunity to acquire a well-established, passively managed, high-performing fast-food investment with significant long-term potential. The property's location in Springfield, Oregon, offers excellent visibility and accessibility. This is a compelling investment for those seeking a stable, high-yield, and low-maintenance commercial real estate asset.

    Property Features for 1611 18Th St

    General Information

    Property type
    Restaurants
    Square Feet
    2,932 SF
    Lot Size
    24,829 SF

    Building Details

    Year Built
    1976

    HighLights

    • $2,124,035 asking price for a Burger King net lease property.
    • 2,932 square feet on a 0.57‑acre lot in Springfield, Oregon.
    • 5.75% cap rate with a $122,132 annual net operating income (NOI).
    • Long‑term, 20‑year NNN lease with over 16 years remaining, commencing June 1, 2021, and including four 5‑year renewal options.
    • Annual rent increases of 1.5% beginning in year seven.
    Property Profile Location Intelligence

    Current Use by Public Records

    Burger King Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Lane
    State
    Oregon
    Longitude
    -122.9977265
    Latitude
    44.0600353

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    FAQs

    What type of property is this?
    Restaurant - High-yield NNN lease, strong tenant.
    Where is this restaurant located?
    The property is located at 1611 18Th St Springfield, OR.
    What is the asking price?
    The asking price for this property is $2,124,035.
    What are key features of this property?
    This property features: $2,124,035 asking price for a Burger King net lease property.; 2,932 square feet on a 0.57-acre lot in Springfield, Oregon.; 5.75% cap rate with a $122,132 annual net operating income (NOI).
    Request Owner's contact information
    1611 18Th St Springfield, OR 97477
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    Springfield, OR 97477
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1611 18Th St Springfield, OR 97477
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