1604 Chestnut St Philadelphia, PA 19103
New 20-year NNN lease with McDonald's in place.
Type:Restaurant
Property size:
4,566 SF- Added:
- Apr 3, 2026
- Days on Market:
- 20
- Last Refresh:
- Apr 3 at 5:40 am
Property Features for 1604 Chestnut St
General Information
- Standard status
- Active
- Size
- 4,566 SF
- Property subtype
- Restaurant
Listing agent Timothy B. Stephenson Jr. License #License(s) PA: RMR006104 (215) 531-7000
Listing office (215) 531-7000
Listing date Apr 3, 2026
Source Marcusmillichap
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Timothy B. Stephenson Jr.
Overview
Prime Philadelphia Commercial Property
A commercial property located in Philadelphia, PA, is available for sale. McDonald’s USA, LLC has executed a new 20-year NNN lease, scheduled to commence in February 2026. The lease features 10% rental increases every five years throughout the base term and option periods, except for a 15% increase in year 6. McDonald’s return to this corridor comes nearly five years after a fire led to the demolition of their longtime Walnut Street location. The property has 17 feet of frontage and is near the southwest corner of 16th Street. It is surrounded by retail, office, residential, and tourist activity. This location benefits from foot traffic and proximity to Rittenhouse Square, the Central Business District, City Hall, and the Theater District. The intersection of 16th and Chestnut recorded the highest pedestrian counts in all of Center City, with an average daily pedestrian volume of 28,860, according to studies conducted in 2021 and 2022. The property is visible to vehicular and foot traffic and is supported by transit connectivity, with multiple SEPTA rail lines and bus routes. The property provides depreciation benefits, and McDonald’s occupies the property at an at-market rental rate. The property size is 4566 square feet.
Location Intelligence
Current Use by Public Records
Drive through restaurants
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.167616
- Latitude
- 39.951033
Nearby Similar for Sale
FAQs
What type of property is this?
Drive through restaurant - New 20-year NNN lease with McDonald's in place.
Where is this drive through restaurant located?
The property is located at 1604 Chestnut St Philadelphia, PA.
What are key features of this property?
This property features: New 20‑year NNN lease with McDonald’s USA, LLC commencing in February 2026, providing long‑term, stable income.; Rare depreciation benefits due to fee‑simple ownership, offering meaningful tax shelter and enhancing after‑tax yield.; Exceptional pedestrian traffic: Located at the intersection of 16th and Chestnut, which recorded the highest pedestrian counts in Center City (28,860 daily).
