JUST SOLD - Sonic Investment. $2.297m. 5.35% Cap
Sonic Investment. $2.297m. 5.35% Cap
220 Lancaster Dr. Salem OR 97317
Leasable SF: 2,300 SF
Land Area: 29,560 SF
Lease Type: NNN
Lease Term: 20 years
Year Built: 2008
Parking: 36 Spaces
Sale Price: $2,297,000
Just Sold- Sonic Drive-Thru on a brand new 20-year term, 100%-leased to an established operator overseeing a 10-unit Sonic portfolio. The Property has frontage on a prominent retail corridor in close proximity to multi-anchor Willamette Town Center, and is just north of an I-5 Interchange.
Brand New 20-year lease with rent bumps.
NNN lease structure.
Preeminent 10-unit restaurant operator with plans to expand.
Historically healthy sales-to-rent ratio.
Superb access via nearby freeway interchange.
Exposure to over 24,361 VPD.
Nearby big box retail, Willamette University, State Capitol and Salem Airport.
Please contact us for more info or if you need help in buying, selling or leasing any commercial/industrial/multifamily/mixed-use properties in OR and WA.