4787 Lancaster Dr Salem, OR 97305

Property Details for 4787 Lancaster Dr

Year built

1977

Property size

4,000 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a profitable, turnkey pre-owned auto dealership located in Salem, Oregon's desirable North Lancaster Business Park. The 4,000 square foot, Class A retail property, built in 1977 and renovated in 2020, features a 40' x 100' warehouse on slab with two roll-up doors, new visqueen insulation, a full office and lobby area with two restrooms, and an upstairs loft and storage area. The property boasts a strong 100% occupancy rate with a single tenant under a modified net lease agreement commencing May 10, 2023, and expiring April 30, 2026, leaving approximately 1.4 years remaining. The asking price is $550,000, representing a compelling price per square foot of $137.50 and a high cap rate of 34.31%. The Net Operating Income (NOI) is $188,729. The dealership benefits from a unique financing structure designed for minimal tax exposure and utilizes Credit Union Direct Lending (CUDL), generating approximately $40,000 annually in additional income. The sale includes all owned inventory, branding, lease takeover, and office materials. The landlord is flexible, offering potential for additional lease options and renegotiation. Four parking spaces are available on-site. Attractive seller-carried financing options are available. This is a rare opportunity to acquire a well-established, high-performing business with significant upside potential.