McDonald's Philadelphia Center City
1604 Chestnut St, Philadelphia, PA 19103
New 20-year corporate lease in high-traffic Philadelphia location.
Type:Retail
Property size:
2,780 SFPrice / SF:
$1,183/SF- Added:
- Feb 19, 2026
- Days on Market:
- 82
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 1604 Chestnut St
General Information
- Standard status
- Active
- Size
- 2,780 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1965
Listing agent Dean Zang License #MD 665335
Listing office Marcus & Millichap - Washington, D.C.
Listing date Feb 19, 2026
Source Crexi
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 Marcus & Millichap - Washington, D.C.
HighLights
- New 20‑Year Corporate NNN Lease with McDonald’s USA, LLC (commencing March 2026).
- Located on the highest pedestrian‑count block in Center City Philadelphia (28,860 average daily pedestrian volume).
- Rare depreciation benefits due to fee‑simple ownership, allowing for depreciation of improvements.
- Rental increases every five years, including a rare 15% increase in year 6, providing an exceptional hedge against inflation.
- McDonald's occupies the property at an at‑market rental rate.
- Located in the heart of Center City Philadelphia, a dynamic and economically diverse metropolitan hub.
Overview
This commercial property in Center City Philadelphia features a new 20-year NNN lease with McDonald’s USA, LLC, scheduled to commence in March 2026. The lease incorporates 10% rental increases every five years, with a 15% increase in year 6. The property is a relocation store, returning McDonald’s to this corridor nearly five years after a fire led to the demolition of their previous Market Street location. The property has 17 feet of frontage and is near the southwest corner of 16th Street, surrounded by retail, office, residential, and tourist activity. The location benefits from high foot traffic and proximity to Rittenhouse Square, the Central Business District, City Hall, and the Theater District. The intersection of 16th and Chestnut records the highest pedestrian counts in Center City, with an average daily pedestrian volume of 28,860. The property is visible to vehicular and foot traffic and has transit connectivity, with multiple SEPTA rail lines and bus routes. The offering provides depreciation benefits, allowing for the depreciation of improvements. McDonald’s occupies the property at an at-market rental rate. McDonald’s is a leading quick-service restaurant brand, operating over 40,000 locations across over 100 countries, with systemwide sales exceeding $120 billion annually. The company is publicly traded on the New York Stock Exchange (NYSE: MCD) and maintains an investment-grade credit rating (S&P: A). The property size is 2780 square feet.
Property Profile
Insight Report
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
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FAQs
What type of property is this?
Drive through restaurant - New 20-year corporate lease in high-traffic Philadelphia location.
Where is this drive through restaurant located?
The property is located at 1604 Chestnut St Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,289,473.
What are key features of this property?
This property features: New 20‑Year Corporate NNN Lease with McDonald’s USA, LLC (commencing March 2026).; Located on the highest pedestrian‑count block in Center City Philadelphia (28,860 average daily pedestrian volume).; Rare depreciation benefits due to fee‑simple ownership, allowing for depreciation of improvements.
