Former Philadelphia Cheesesteak Factory building on Duke Street sold
992-square-foot property found by buyer through social media post
A Duke Street restaurant property has sold to a new owner who found the listing through social media, according to the brokerage firm that represented the seller.
The 992-square-foot freestanding building at 3060 Duke St., most recently home to Philadelphia Cheesesteak Factory, was sold by Tartan Properties agent Fatimah, the firm announced Friday on social media.
City of Alexandria real estate records as of Saturday morning still listed the property as owned by 3060 Duke Street LLC, with a mailing address in Northampton, Massachusetts. The sale had not yet been officially recorded, though delays between closing and recording are routine in commercial real estate transactions.
Philadelphia Cheesesteak Factory announced its closure on Sept. 14 via Facebook, thanking customers for their patronage over the years.
The property, characterized by its A-frame architecture, is located in what Tartan Properties described as a “proven food and beverage corridor” along Duke Street. City records show the property was built in 1969 and is currently assessed at $765,000, with $569,560 in land value.
When listed last month, Tartan Properties marketed the property’s turnkey restaurant setup, dual 200-amp power service, and visibility. The firm cited demographics showing more than 217,000 residents within a three-mile radius and average household incomes exceeding $138,000.
The listing also noted the property’s proximity to Old Town Alexandria, King Street Metro station, and major retail anchors.
In its announcement, Tartan Properties said the buyer discovered the opportunity through a social media post rather than traditional listing channels.
Details about the buyer’s plans for the space were not disclosed. The terms of the sale, including the purchase price, were not disclosed.
Really intresting to see social media becoming such a powerful tool for comercial real estate deals. That A-frame building has been an iconic part of Duke Street for decades. Curious if the new owner will keep the restaurant concept or try something completly different with the space. The location demographics sound strong with those household income numbers.