2020 Santiam Hwy Lebanon, OR 97355-3042

Property Details for 2020 Santiam Hwy

Year built

2011

Lot size

0.52 lot acres

Property type

Drive through restaurants

APN

12S 02W 15DA 00100

APU

12S02W15DA00100

Description

This exceptional investment opportunity presents a chance to acquire a fee-simple interest in a single-tenant, 2,492 square foot Jack in the Box restaurant located in Lebanon, Oregon. The property sits on a 0.52-acre lot at 2020 S Santiam Hwy, boasting excellent visibility on Highway 20 and Airport Road, with a high daily traffic count of 31,457 vehicles. Built in 2011, this property features 27 parking spaces and benefits from a strong location on a major retail arterial, situated directly across from a Safeway and near Lebanon High School, ensuring consistent customer traffic. The property is currently operating under a corporate-guaranteed Absolute NNN lease with Jack in the Box, Inc., offering zero landlord responsibilities. The lease has over 17.5 years remaining, with built-in rent bumps of 10% every five years, the next increase scheduled for 2027. This translates to a projected yield increase of 157 basis points over the primary lease term. The asking price is $2,380,000, representing a 4.75% cap rate. The property's location, strong tenant, and lease terms make this a compelling investment opportunity with significant long-term potential. The property's parcel number is 0206041. This is a single-story building with 100% occupancy.