2138 Lancaster Drive Northeast

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2138 Lancaster Drive Northeast

Salem, OR 97305
Asking Price
$5.37M
Cap Rate
7%
Asset Type
Grocery Store Retail
Class
Class B

What's Special

100% OCCUPIED RETAIL CENTER LOCATED IN SALEM’S PRIMARY LANCASTER DRIVE RETAIL CORRIDOR <p>• 100% Occupied with Strong Historical Tenancy: SunnyLan Center is fully leased and has demonstrated strong tenant retention, with approximately 82% of the GLA occupied for five or more years, 38% occupied for ten or more years, and a 5.74-year WALT.</p><p>• Recent Leasing Momentum: The Property benefits from two newly executed leases with Adriana Beauty Salon and Sinalos Bar & Seafood, demonstrating continued tenant demand for space within the center.</p><p>• Priced Well Below Replacement Co

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NOI
$80,000
Cap Rate
1.49%
DSCR
0.25
Underwater
Cash-on-Cash
-14.82%
Monthly Payment
$26,567.83
Annual Cash Flow
$-238,813.96

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