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Academy Square 922-1132 Lancaster Dr NE
1,000 - 8,434 SF of Retail Space Available in Salem, OR 97301
Highlights
- Lease rates: starting at $22/SF NNN
- NNN’s estimated at $6.87/SF
- NNN’s include W/S and HVAC maintenance/replacement
- Across from Willamette Town Center
Space Availability (3)
Display Rent as
- Space
- Size
- Term
- Rent
- Service Type
| Space | Size | Term | Rent | Service Type | ||
| 1st Floor, Ste 1094 | 1,000-4,400 SF | 5 Years | £18.83 /SF/PA £1.57 /SF/MO £202.64 /m²/PA £16.89 /m²/MO £82,834 /PA £6,903 /MO | Triple Net | ||
| 1st Floor, Ste 1114 | 1,560 SF | Negotiable | £19.61 /SF/PA £1.63 /SF/MO £211.08 /m²/PA £17.59 /m²/MO £30,592 /PA £2,549 /MO | Triple Net | ||
| 1st Floor, Ste 1124 | 2,474 SF | 3 Years | £17.26 /SF/PA £1.44 /SF/MO £185.75 /m²/PA £15.48 /m²/MO £42,694 /PA £3,558 /MO | Triple Net |
980-1126 Lancaster Dr NE - 1st Floor - Ste 1094
Due to the cost, the demising of Unit 1094 will only be considered for an existing business with leasing experience, strong financials and an initial lease term of at least five years.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as Standard Retail Space
- Located in-line with other retail
980-1126 Lancaster Dr NE - 1st Floor - Ste 1114
Open retail space with great visibility. Current tenant can be vacated within 60 days of fully-executed lease with new tenant.
- Lease rate does not include utilities, property expenses or building services
980-1126 Lancaster Dr NE - 1st Floor - Ste 1124
Suites 1124 is built-out as professional office space.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as Professional Services Office
- Located in-line with other retail
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing agent for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 922-1132 Lancaster Dr NE , Salem, OR 97301
| Min. Divisible | 1,000 SF | Frontage | Lancaster & D St |
| Centre Type | Neighborhood Center | Gross Leasable Area | 62,789 SF |
| Parking | 368 Spaces | Total Land Area | 9.42 AC |
| Stores | 1 | Year Built | 1989 |
| Centre Properties | 5 |
| Min. Divisible | 1,000 SF |
| Centre Type | Neighborhood Center |
| Parking | 368 Spaces |
| Stores | 1 |
| Centre Properties | 5 |
| Frontage | Lancaster & D St |
| Gross Leasable Area | 62,789 SF |
| Total Land Area | 9.42 AC |
| Year Built | 1989 |
About the Property
Spaces ranging from 1,560-4,400 SF at this busy retail center in the heart of the Lancaster Drive corridor. Excellent parking ratios, signage options and visibility. Tenant improvement funds available for qualified tenants and lease terms. This active retail center is located immediately across from Willamette Town Center in the most concentrated retail area in the Lancaster Drive corridor.
Nearby Major Retailers
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Jennifer Martin -
Ruth Dana -
First Commercial Real Estate
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Academy Square | 922-1132 Lancaster Dr NE
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