Restaurant
Popeyes
1680 N 1st St, Hermiston, OR 97838
Listing Price: $3,324,864
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located at 1680 N 1st Street, Hermiston, OR 97838. The property consists of a 2,536 square feet of building space and is situated on an estimated 0.82-acres of land. The tenant is subject to a 20-year absolute triple net (NNN) lease, that commenced on upon the close of escrow. The base rent is $182,868 and will increase by 2.00% percent annually starting in year six and continuing throughout the base term and into each of the four (4), five (5)-year tenant renewal option periods.
Listing Price: $3,324,864
Investment Highlights
- Brand New 20-Year Sale-Leaseback
- Tenant will Begin Construction at the Close of Escrow
- Rent will Commence at Store Opening
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located at 1680 N 1st Street, Hermiston, OR 97838. The property consists of a 2,536 square feet of building space and is situated on an estimated 0.82-acres of land. The tenant is subject to a 20-year absolute triple net (NNN) lease, that commenced on upon the close of escrow. The base rent is $182,868 and will increase by 2.00% percent annually starting in year six and continuing throughout the base term and into each of the four (4), five (5)-year tenant renewal option periods.
