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1991 Olympic St

8,500 SF Retail Building Springfield, OR 97477 $2,300,000 ($271/SF) 5.37% Cap Rate

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Investment Highlights

Leased since 2005 to Aaron's

Triple Net Lease

Executive Summary

Corporate Guaranteed Triple Net Retail Lease
• Building Size: 8,500 square feet
• Site Size: 20,909 square feet
• Parking: 21 parking spaces
• Zoning: MR | Major Retail Commercial
Tenant:
Aaron’s, Inc. has been a tenant since 2005. The Aaron’s Company is a lease-to-own retailer focusing on leases and retail sale of furniture, electronics, appliances and computers.
Lease Term and Rent:
The current lease term is through December 31, 2026. The current annual rent is $124,449 through December 31, 2026. Aaron’s has two 5-year renewal terms with 10% rent increases.

1991 Olympic 2025

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

8,500 SF

Building Class

Year Built

1977

Price

$2,300,000

Price Per SF

$271

Cap Rate

5.37%

NOI

$123,549

Tenancy

Single

Building Height

1 Story

Building FAR

0.28

Lot Size

0.69 AC

Zoning

MR - Major Retail Commercial

Parking

24 Spaces (2.82 Spaces per 1,000 SF Leased)

Frontage

86 FT on Olympic St

Amenities

Bus Line

Signage

Retailer
99,999 SF
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Headquartered in Atlanta, The Aaron's Company, Inc. is a leading, technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions of appliances, electronics, furniture, and other home goods across its brands: Aaron's, BrandsMart U.S.A., BrandsMart Leasing, and Woodhaven. Aaron's offers a direct-to-consumer lease-to-own solution through its approximately 1,220 Company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform.