Plaza Azteca Wyomissing
955 Woodland Rd Wyomissing , PA 19610-1201

Plaza Azteca Wyomissing - retail for sale

1.74 ac
Retail --Single tenant/Standalone Sale/Purchase
USD $2,766,000

Description

JLL is pleased to exclusively offer the opportunity to acquire a single tenant property corporately guaranteed leased to Plaza Azteca (the “Property”) in Wyomissing, PA, which is a neighboring town to Reading and 65 miles northwest of Philadelphia. For the preceding twelve months, the restaurant ranked in the 86th percentile in the dining category, within a 15-mile radius, based on estimated foot traffic. Further, they ranked in the 86th percentile in the entire state of Pennsylvania (Placer.ai). Plaza Azteca has more than 8 years of term remaining on its original, twenty-year NNN ground lease and two (2), five (5) year options in place. The Lease calls for attractive 10% rental increases every five (5) years, inclusive of the two remaining option periods.  


Plaza Azteca is ideally situated within the main retail trade area in Wyomissing. The restaurant is located just off U.S. Route 422, which boasts 86,000 VPD, across from the Berkshire Mall. The mall contains nearly 100 tenants including Boscov’s, T.J. Maxx, American Eagle Outfitters, A.C. Moore, Chick-fil-A and more. In addition, other popular shopping destinations such as Berkshire Square, The Shoppes at Wyomissing, Broadcasting Square and VF Outlet Reading are nearby. Together, these shopping centers are home to nationally recognized retailers such as Walmart, ROSS, Bed Bath & Beyond, LA Fitness, and Marshalls. Lastly, The Home Depot and Crowne Plaza are across the street from Plaza Azteca, further driving consumers to the area.


Plaza Azteca is home to traditional Mexican flavors combined with a “Tex Mex” flair. During the mid-1990s, the first Plaza Azteca restaurant was established in Virginia Beach, VA. Since then, the company has expanded to over 40 locations that span across seven states. In addition to online ordering and contactless pick-up, Plaza Azteca offers beer, wine, and margaritas for takeout in select locations. Their menu consists of a variety of Mexican dishes that range from quesadillas and enchiladas to tacos and burritos, as well as their fresh cocktails like their famous margaritas.