Drive-Through Taco Bell Ground
For Sale
$1,660,000
3887 Washington Rd, Mc Murray, PA 15317
Absolute triple-net ground lease Taco Bell built in 2015 with a drive-through along Washington Road.
Property Size2,740 SF
Price / SF$605.84
Days on Market95
Property Features for 3887 Washington Rd
General Information
Standard status
Active
Size
2,740 SF
Property subtype
Restaurant
Site & Location
Traffic Count
24,000 vehicles/day
Road Access
Yes
Additional Details
Cap Rate
5.25%
Amenities
drive-thru
Taco Bell Absolute Triple-Net Ground Lease with 14 Years Remaining in McMurray, PA
Established Franchisee: Charter Foods North, LLC – Over 200 Unit Operator Across 13 States Within Yum! Brands System
Lease Entity Backed By Proven Regional Operator | Longstanding Franchise Relationship With Yum! Brands
Ten Percent Rent Increases Every Five Years | Built-In NOI Growth Throughout Base Term And Option
Remaining Lease Term Through 2040 With Additional Four-Year Option Long-Term Cash Flow Visibility
Absolute Triple-Net Ground Lease Structure – Tenant Responsible For All Expenses Including Roof And Structure
Constructed In 2015 | Modern QSR Prototype With Drive-Thru | Limited Near-Term Capex
Charter Foods Platform Generates Over $200M In Annual Revenue | Scaled Multi-Brand Operator With Taco Bell, KFC, And More
Building Details
Building Size
2,740 SF
Year Built
2015
Tenancy
Single
Listed By:
Timothy B. Stephenson Jr. · License #License(s) PA: RMR006104
(215) 531-7000
Source:
Marcusmillichap
Added: Jun 3
Changed: Aug 24
Last Checked: Sep 5 at 3:44AM
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.
Investment Insights
Based on property information with market context.
This is an absolute triple-net Taco Bell ground lease property constructed in 2015, offering a modern QSR prototype with a drive-through. The lease has 14 years remaining, and the offering materials note limited near-term capex.
The property is located along Washington Road with over 24,000 vehicles per day and is positioned within a primary retail corridor. It is described as an outparcel to a dense retail mix that includes Giant Eagle, TJ Maxx, Five Below, Chase, Walgreens, and other national tenants.
The asset is in the McMurray, Pennsylvania area within the South Pittsburgh submarket, with the five-mile average household income cited as exceeding $136,000.
The property is located along Washington Road with over 24,000 vehicles per day and is positioned within a primary retail corridor. It is described as an outparcel to a dense retail mix that includes Giant Eagle, TJ Maxx, Five Below, Chase, Walgreens, and other national tenants.
The asset is in the McMurray, Pennsylvania area within the South Pittsburgh submarket, with the five-mile average household income cited as exceeding $136,000.
Key Highlights
- Absolute triple‑net ground lease Taco Bell
- Taco Bell constructed in 2015 (modern QSR prototype) with drive‑thru
- 14 years remaining on the ground lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,100
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,182,000
$1.2M
Cap Rate 7%
$844,286
$844.3K
Cap Rate 9%
$656,667
$656.7K
Market Conditions
NOI Build-Up for 2,740 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$87.8K $32.04/SF
− Vacancy
−$9.0K −$3.28/SF
EGI
$78.8K $28.76/SF
− OpEx
−$19.7K −$7.19/SF
NOI
$59.1K $21.57/SF
Area
Washington County, PA
Vacancy
10.24%
Lease Rate
$32.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,182,000
Cap Rate 7%
$844,286
Cap Rate 9%
$656,667
Alternative Uses
Best Use
Specialty Retail
$844.3K
$738.8K – $985.0K
NOI $59,100 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
310k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 31%
Groceries 27%
Dining 24%
Apparel 13%
Giant Eagle Supermarket
Groceries
57,778 visits/mo
0.2 miles
T.J. Maxx
Apparel
41,856 visits/mo
0.2 miles
Aldi
Groceries
26,128 visits/mo
0.3 miles
Dollar Tree
Shops & Services
19,023 visits/mo
0.3 miles
GetGo Gas Station
Shops & Services
17,202 visits/mo
0.2 miles
Demographics for 15317, PA
42,801
Population
18,803
Households
2.3
Avg Household Size
43
Median Age
52%
College-Educated
97%
High-School Grad
45.0 sq mi
ZIP Area
951
Density / Sq Mi
$107,962
Median Household Income
$61,089
Median Earnings
$1,180
Median Rent
$329,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Absolute triple-net ground lease Taco Bell built in 2015 with a drive-through along Washington Road.
Where is this drive through restaurant located?
The property is located at 3887 Washington Rd Mc Murray, PA.
What is the asking price?
The asking price for this property is $1,660,000.
What are key features of this property?
This property features: Absolute triple‑net ground lease Taco Bell; Taco Bell constructed in 2015 (modern QSR prototype) with drive‑thru; 14 years remaining on the ground lease
