Wind Gap, PA, September 27th, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of a Car Wash, a 2,656-square-foot property located at 951 South Broadway, Wind Gap, PA, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $900,000.
Colin Reder and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a local private investor. They also had the privilege of representing the buyer, an experienced investor focused on value-add opportunities.
"The sale of this former car wash property in Wind Gap marked a significant value add opportunity for the new owners. With excellent visibility from over 20,000 vehicles daily on South Broadway and 32,000 on State Route 33, the site offers 2 full and 4 self service bays along with vacuum stations providing a complete experience,” said Colin Reder.
"This property is situated in a vibrant and growing area with a population exceeding 28,000, and a projected growth rate of 4% over the next four years, reflecting strong demographic trends. Additionally, its proximity—within a mile of prominent national retailers like Giant, Ocean State Job Lot, McDonald’s, Taco Bell, Arby’s, Wendy’s, and Anytime Fitness—further enhances its appeal," said Colin Reder.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
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