1150 Chestnut St Washington, PA 15301
- Retail properties
- 3,071 SF
- 1.33 lot acres
Current Use by Public Records
- Burger King / Restaurant / Fast Food Restaurant
Property Details for 1150 Chestnut St
- Year built
- 2019
- Lot size
- 1.33 lot acres
- Property size
- 3,071 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple ownership of a Burger King restaurant located at 1150 W Chestnut St, Washington, PA 15301. The property boasts 3,071 square feet on a 1.33-acre lot, featuring a convenient drive-thru. The property is subject to a triple-net (NNN) lease with a highly creditworthy franchisee, Carrols, LLC, a subsidiary of Restaurant Brands International, LLC (the corporate owner of Burger King). The 20-year lease, commencing December 20, 2019, has approximately 15.1 years remaining, providing significant long-term stability. The current annual net operating income (NOI) is $144,385, representing a 6.15% cap rate and a price per square foot of $764.48. The lease includes 1% annual rent escalations beginning in 2029, and six five-year renewal options. The property benefits from a high-traffic location at the intersection of Interstate 70 and US Route 18/19, experiencing significant daily vehicle counts. The surrounding area has a substantial population base, exceeding 94,890 individuals within a ten-mile radius. This offering presents a compelling opportunity for investors seeking a stable, high-performing, and low-maintenance net lease investment in a prime location. The property was built in 2019 and enjoys 100% occupancy.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Washington
- County
- Washington
- State
- Pennsylvania
- Longitude
- -80.2699
- Latitude
- 40.1659
