David Bailey - Commercial Real Estate Showcase

David Bailey Property Listings
Associate Director
Stan Johnson Company
180 Madison Ave
Suite 1500
New York, NY 10016-5267

373 Washington Road - The Old Mill - Max & Erma's Restaurant

Washington, PA 15301-2701 - Washington County Submarket

Property Type:Retail Sub Type:Restaurant Status:Existing Year Built:2008
Building Size:6,560 SF Land Area:1.8 AC (78,408 SF)
For Sale Price:$3,938,000 Price/SF:$600.30
Cap Rate:7.50 %
Parking:Free Surface spaces are available; Ratio of 10/1,000 SF

Sale Notes:
Stan Johnson Company is pleased to offer for sale to qualified investors a single tenant restaurant located in Washington, Pennsylvania.

The Property is occupied by Max & Erma' s, who is operating under a 20-year ground lease, with over 10.5 years remaining.

Recently acquired by Glacier Restaurant Group (GRG), this Max & Erma' s has retained its guarantee from the former owner, American Blue Ribbon Holdings (ABRH). ABRH is the 8th largest full service restaurant holding company in the United States. As of 2016, they operated 471 restaurants in 43 states. In FY 2015, they had $1.3 billion of total annual revenue and employed over 32,000 people.

Fronting Washington Road/Route 19 (29,873 VPD), near the intersection for Highway 79 (74,712 VPD), Max and Erma' s is part of the Old Mill Shopping Center and is visible from the street and adjacent to a signalized intersection. The Property is located in the main retail hub of Washington, with several other national tenants surrounding the property including Lowe' s, Home Depot, Dick' s Sporting Goods, Hobby Lobby, McDonald' s, Staples, Sam' s Club and many others.

Stan Johnson Company
David Bailey
(646) 778-5560

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