Retail Development Opportunity 863052
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Listing was updated on: 05/01/2022
Price: 3500000.00
location icon 2 Park Dr, Pocono Summit, PA 18346, USA
Land for Sale
5.02 sqft
from 13 Apr 2022
Description

LocationThe Pocono Mountains, which currently has 27.9 million visitors each year, is approximately 2 hours from Philadelphia, Harrisburg or Trenton and 1.5 hours from New York City. Travel spending exceeds $3.3 billion annually of which 19% is on food and beverage. The Poconos features more than 30 golf courses, 4 indoor waterparks, abundant shopping centers and various seasonal recreational activities.  Other major area developments include the 130,000 square foot expansion of Kalahari Resort’s convention center, and the newly built Harley Davidson dealership. Nearby area attractions include The Crossings Premium Outlets, Cambelback Ski Resort and Waterpark, Great Wolf Lodge and Mt. Airy Casino Resort.

The four-county region is famous for its resorts, natural scenic beauty, 150 lakes including Lake Wallenpaupack, and quaint, historic towns. The varied landscape inspires a range of experiences, from the private and peaceful to the bold and exhilarating. Cottages & condos and hotels promote restful mountain moments while waterparks and adventure courses, offer excitement around every turn. Stay, explore, and discover the Pocono Mountains. To learn more about the Poconos watch the Pocono Television Network online anytime.SaleSilver Fox NNN Capital Group in partnership with The Daniel Perich Group of KW Commercial are pleased to exclusively present on behalf of ownership the fee-simple interest in this 5.02-acre property in Pocono Summit, PA. This property is situated at the proposed lighted entrance to the planned Pocono Springs Entertainment Village - a 1.4 million square foot $450MM entertainment and dining destination opening in 2022 with Ripley’s Aquarium. With projected 4.5 million visitors annually, this proposed hard corner is a premier site with a projected 30,000 ADT.

Sheetz has executed a 20-year lease for 2.5 acres, leaving the remaining 2.5 acres ideal for numerous retail uses including sit-down restaurant, retail and medical. The parcel is designated as a “C-I”, Commercial-Industrial District Zone of Tobyhanna Township, which allows for a wide variety of commercial land uses. Public water and sewer are anticipated to be available at this location.

Adjacent 5-acre parcel is available for additional purchase. Currently operating as Summit Lanes bowling alley, this property is ideal for repurpose or redevelopment opportunities. Conceptual drawing on file shows a proposed 4-story, 100-room hotel and 2,473 square foot QSR with drive-thru. The current free-standing 41,160 square foot building has a 33,600 square foot footprint and 12-27 foot ceilings. The ground floor is divided into a main entrance foyer, a food service area with a commercial kitchen, a bowling alley with 36 lanes and a service corridor, a sales area with a service counter, a game arcade, a billiard area, an office storage room, one (1) private office, a sports/repair shop, a bar with a billiard room, and four (4) restrooms. The upper level contains approximately 7,560 square feet and is an open, un-partitioned studio area.

Additional parameters

The information above is from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.