1611 18Th St Springfield, OR 97477
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High-yield NNN lease, strong tenant.
Property size:
2,932 SFProperty Features for 1611 18Th St
General Information
- Property type
- Retail properties & Spaces
- Square Feet
- 2,932 SF
- Lot Size
- 24,829 SF
Building Details
- Year Built
- 1976
Listing Agency: NNN Pro Group Listing Agent: Glen Kunofsky
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Burger King
Restaurant
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?
Retail property - High-yield NNN lease, strong tenant.
Where is this retail property 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).
