JUST SOLD - Sonic Investment. $2.297m. 5.35% Cap

JUST SOLD

Sonic Investment. $2.297m.  5.35% Cap

220 Lancaster Dr. Salem OR 97317

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INVESTMENT SUMMARY:

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
Cap: 5.35%

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.

THE HIGHLIGHTS:

  • 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.

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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.

Matt LymanSonic