1611 18Th St Springfield, OR 97477
- Commercial real estate
- 0.57 lot acres
Current Use by Public Records
- Burger King / Restaurant / Fast Food Restaurant
Property Details for 1611 18Th St
- Lot size
- 0.57 lot acres
- Property type
- Commercial real estate
- APN
- 17-03-25-31-07702-000
- APU
- 1703253107702000
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Lane
- State
- Oregon
- Longitude
- -122.998
- Latitude
- 44.06
- CBSA code
- 21660
- CBSA name
- EUGENE-SPRINGFIELD, OR METROPOLITAN STATISTICAL AREA
