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Views: 16 DOM: 15 Updated: 10.31.24 Posted: 10.31.24 Status: Active

Summary

Price $6,222,000
Built/Renov 2007/2024
Tenant First Watch
Cap Rate 5.00%
Lease Type NN+
Guarantor Corp Traded
Size/SF 5,672
Lease Start 12-01-2024
#Units 535
Price/SF $1,096.97
Expiration 12-31-2036
Tenant Type Casual Dining
NOI $311,109
R. Term 12.1
Ownership Fee Simple
Rent/SF $54.85
Increases 10.0%/6/yrs
Pop 5Mi 380,485
Lot/AC 1.10
Options 2/5yrs/10%
AHHI 5Mi $119,797

Lease Highlights

  • First Watch recently signed a brand new 12-year lease with 2 (5-year) options to extend
  • The lease features 10% rental increases every 6 years throughout the initial term and at the beginning of the first option period
  • The property is scheduled to open for business in December 2024
  • NN lease | Minimal landlord responsibilities
  • Signed by First Watch Restaurants, Inc. (NASDAQ: FWRQ)

Location Description

First Watch is strategically located at the signalized, hard corner intersection of Belt Line Road and Prestonwood Blvd., a major retail and commuter route with access to a daily traffic count of 44,200 vehicles. The property benefits from close proximity to the North Dallas Tollway on/off ramps, which see 161,500 VPD. Additionally, it is adjacent to Village on the Parkway, a popular shopping...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

First Watch is an American restaurant chain founded in 1983. The chain is known for its award-winning daytime dining concept serving made-to-order breakfast, brunch, and lunch using only the...


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Listing Broker

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