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Property summary
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.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2023
Value estimate
· Oct 2026Realmo valuation models over county records.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 6 properties nearbyComparable nearby
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 13,367 SF
- Lot area
- 1.41 ac
- Year built
- 1997
- Stories
- 1
- APN
- 083W10AD09800
- Zoning
- CR
- Assessed value · 2023
- $2,075,420
- Annual tax · 2023
- $40,734
- Auto Repair, Garage
- Medical Building
- Office Building
- Retail Stores
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Official district profile
The purpose of the Commercial Retail (CR) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. Th…
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- 10 Targeted Leads
- 1 Full Property Report
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
-
Zoning Insight— not in this plan -
Location Analytics— not in this plan
- 300 Targeted Leads a month
- 30 Full Property Reports
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
-
Location Analytics— not in this plan
- 1,500 Targeted Leads a month
- 150 Full Property Reports
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
- Location Analytics
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