Listed By:
Zommick McMahon Commercial Real Estate
Address
15 Maplewood Drive, Douglassville, PA
Price
$ 2,636,364
Property Attributes
  • MLS#PABK2041888
  • TypeCommercial
  • CountyBERKS
  • CityDouglassville
  • AreaAmity Twp
  • Zip19518
  • StyleRestaurant/Bar
  • Year Built1999
  • Taxes$ 27625
  • Price$ 2,636,364
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage5468
  • Lot Size2.33 Acres
Data Source:
Bright MLS
Property Description

15 Maplewood Drive is a opportunity to purchase a Net Leased Investment property with a long term lease by Chipotle. Chipotle is currently completing their construction and is scheduling to open in June. Investment Highlights- New 15-Year Lease with 10% Increases Every 5 Years Enhanced Value in Oversized 2.33-Acre Parcel with Chipotlane Drive-Thru Strong Corporate, Investment Grade Retailer (NYSE: CMG) Signaled Corner, High Traffic Location to 37,638 VPD High Placer.ai Counts from Neighboring Uses Industry Leader with 3,000+ Locations and $7.5B in Revenue New 15-Year Corporate Lease - The Tenant, Chipotle Mexican Grill, Inc., is subject to a new 15-year lease to commence in Summer 2024. The corporate lease features 10 percent rental increases every five years during the base term and option periods, providing an excellent hedge against inflation. Chipotle will operate in a 5,468-square-foot store, with 3,100 square-feet on the ground floor. There is a 2,200-square-foot lower level but it will not be used by the tenant. The site will also feature a "Chipotlane" modernized drive-thru. A longtime leader and innovator in the food industry, Chipotle is publicly traded on the New York Stock Exchange under the ticker NYSE: CMG. Oversized 2.33-Acre Parcel The Tenant occupies a 2.33-acre parcel which is significantly larger than typical for Chipotle. On average, Chipotle locations occupy between 0.50-1.0-acres. This enhances the security of the investment by offering long-term flexibility. The developer completed various layout configurations for this parcel including two pad buildings as well as a strip center, but elected for the faster and less capital intensive option of retrofitting this former bank branch. The buyer will inherit this long-term upside to maximize the lots area should the tenant vacate. Prominent, High Traffic Location - Chipotle is prominently located along Maplewood Drive with fully signalized access between the east and westbound lanes of Route 422. Route 422 is the areas primary route, averaging 37,638 vehicles per day. The property is at the center of the Douglassville retail node. *Owners are PA Licensed Real Estate Agents Please Contact Listing Agent for more information,

Price History
4/11/2024 Listed $2,636,364

General Features

Sewer Public Sewer
Heating Central
Cooling Central A/C
Possession Immediate
Zoning HC
Construction Materials Other
Year Built 1999
Property SubType Retail
Tax Year 2022
Percent Ownership Fee Simple
Cool Fuel Other
OwnerPays None
Business Type Restaurant/Bar
Accessibility 2+ Access Exits
County BERKS
Net Operating Income 145000.00
Operating Expense 0.00
New Construction No
Property Type Commercial Sale
Water Access Y/N No
Property Use Investment
Status ACTIVE
Directions On the corner of Route 422 and Maplewood Dr.
ModificationTimestamp 2024-04-11T16:37:49
City DOUGLASSVILLE
Buyer Agent Compensation 1.75
MLS Area Amity Twp (10224)
Lot Size Square Feet 101494.00
Tax Assessed Value 632100.0
Waterfront Y/N No
Street Name MAPLEWOOD
Tax Annual Amount 27625.0
Property Condition Excellent
Price Per Sq Ft 484.98
Vacation Rental Y/N No
Days on Market 20
Standard Status Active
Year Built Source Estimated
Tax Lot 5242
Total Actual Rent 145000.00
Cap Rate 5.50
Buyer Agent Compensation Type % Of Gross

Interior Features

Heating Fuel Central
Hot Water Other
Heating Y/N Yes
Street Suffix DRIVE
Central Air Y/N Yes

Exterior Features

Water Source Public
Total Parking Spaces 29
Type of Parking Parking Lot
Land Use Code 4240
Traffic Count Greater than 30000
Water View Y/N No
Building Area Total 5436.00
Lot Dimensions 0.00 x 0.00
Lot Size Acres 2.33
Lot Size Units Square Feet
Lot Size Source Assessor
Land Assessed Value 176500.00
Navigable Water Y/N No
Water Oriented Y/N No
LotDimensionsSource Assessor
Car Parking Spaces 29

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 19518

Price
AVG $490K
$2.64M
Taxes
AVG $16,474
$27,625
Visits
AVG 112
40
Data Provided by Inside Real Estate®
Year Built
AVG 1970
1999

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