237 SW 4th St - Freestanding FOR SALE
Madras, OR 97741 |
$2,450,000 USD
646-921-8951
237 SW 4th St
Madras, OR 97741
HIGHLIGHTS
- Lease structured as Absolute NNN — tenant is responsible for all costs including roof, structure, and parking lot
- Base lease term runs through May 31, 2035, with two (2) additional 5-year options extending potential tenancy through May, 2045
- 10% base rent escalations every 5 years, providing investors with built-in inflation protection and growing NOI / overall return
- Percentage rent clause: Historically has provided additional income offering additional upside tied to tenant performance
- Black Bear Diner ranked among the top 113 restaurant chains nationally by Nation’s Restaurant News (2025)
- Ranked #4 in customer satisfaction in the mid-scale dining segment by Nation’s Restaurant News America’s Favorite Chains survey
FOR SALE DETAILS
PRICE
$2,450,000 USD
PRICE/SF
$625 USD /SF
CAP RATE
6.65%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Black Bear Diner
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1978
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.36 AC
LAND SF
15,682 SF
ZONING
C2
APN/PARCEL ID
111311-AA-08000
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646-921-8951
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646-921-8951
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