658 Oregon Way Longview, WA 98632-1538
- Drive through restaurants
- 3,307 SF
- 0.41 lot acres
Current Use by Public Records
- Burger King / Restaurant / Fast Food Restaurant
Property Details for 658 Oregon Way
- Year built
- 1999
- Lot size
- 0.41 lot acres
- Property size
- 3,307 SF
- Property type
- Drive through restaurants
- APN
- 2148
- APU
- 2148
Description
This exceptional investment opportunity presents a single-tenant, absolute NNN leased Burger King property located at 658 Oregon Wy, Longview, WA 98632. The 3,307 square foot building, constructed in 1999 and fully remodeled in 2018, sits on a 30,057 square foot lot and includes 35 parking spaces and a drive-thru. The lease with the franchisee, a successful operator of over 200 QSR restaurants, extends until November 29, 2036, offering approximately 12 years remaining with four, five-year renewal options, each including an 8% rent increase. The next rent increase is scheduled for June 1, 2027. This property boasts a strong sales history and benefits from its strategic location off Highway 432, connecting I-5 to the Washington and Oregon coasts. The asking price is $3,490,000, representing a 6.00% cap rate. This is a truly passive investment opportunity with no landlord responsibilities due to the absolute NNN lease structure. The property's consistent performance and built-in rent escalations make it an attractive addition to any portfolio. This is a rare chance to acquire a well-established, high-performing Burger King in a prime location.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Longview
- County
- Cowlitz
- State
- Washington
- Longitude
- -122.941
- Latitude
- 46.1259
- CBSA code
- 31020
- CBSA name
- LONGVIEW, WA METROPOLITAN STATISTICAL AREA
