399 Bristol Pike - Freestanding FOR SALE


Croydon, PA 19021
$2,800,000 USD
949-221-1803
399 Bristol Pike, Croydon, PA for Sale
$2,800,000 USD
Freestanding - FOR SALE
1/13
null | 6% Cap Rate

399 Bristol Pike
Croydon, PA 19021


HIGHLIGHTS

  • Drive-thru QSR / Convenience Investment Property with Wells Fargo ATM (NYSE: WFC)
  • Subject Property located 14 Miles from downtown Philadelphia | Philadelphia is the 6th largest city in the United States by population (1.5M+)
  • Strong daytime employment statistics with more than 82,700 employees within a 5-mile radius of subject property
  • Freestanding parcel with Double Drive-Thru and rare dedicated parking lot with 33 spaces
  • New long term NNN Leases with Checkers and Clover Mart
  • Brand New 2024 Construction/Renovation

OVERVIEW

Pennsylvania Broker of Record - BRIAN BROCKMAN - License No. RM432816 Faris Lee Investments is pleased to present the rare opportunity to acquire the fee simple interest in a brand new, double drive-thru, net leased investment property in Croydon, Pennsylvania. The subject property is less than 14 miles from downtown Philadelphia, the 6th largest city in the United States. Checkers and Clover Mart will commence fresh 15- year leases with 10% rental increases occurring every 5 years during the lease term. This brand-new property has minimal landlord responsibilities, which makes the asset an ideal investment opportunity for passive investors. And with multiple tenants across different business categories, this property offers a diverse income stream. To summarize the tenant mix: Checkers and Rally’s Drive-In, a nationally recognized drive-thru QSR brand, has more than 792 locations across the United States and 40+ years of operations. While their menu focuses on combo meals featuring burgers, chicken, and various sandwiches from the grill, Checkers & Rally’s french fries are world-renowned. Clover Mart is a local convenience store offering snack and drink items, in addition to vape and tobacco products. Wells Fargo (NYSE: WFC) has become the world’s 45th most valuable company by market cap ($240 Billion) and has more than 11,000 ATM locations across the United States. This freestanding property has exceptional frontage on Bristol Pike (15,900 VPD) and benefits from a double drive-thru equipped building with a large, dedicated parking lot for customers. The two-tenant asset finished construction and opened for business in early 2024, providing an investor with a brand new property with minimal deferred maintenance. Additionally, there are more than 259,000 residents within a 5-mile radius of the subject property and 87,400 daytime employees. This investment property presents a unique opportunity to acquire a drive-thru QSR asset in dense Philadelphia MSA, the 7th largest MSA in the United States.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$870 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Double Drive-Thru Checkers w/ C-Store & Wells

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Fast Food, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

33

LAND DETAILS

LAND ACRES

0.68 AC

LAND SF

29,621 SF

ZONING

05C

APN/PARCEL ID

05-008-050-002,05-008-056

ASK ABOUT THIS PROPERTY

Tyler StraussFaris Lee InvestmentsMore Info
949-221-1803

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Tyler StraussFaris Lee InvestmentsMore Info
949-221-1803

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.