First Watch | 15-Yr Lease | 5.35% CAP 16720 Macon st 3,761 SF Retail Building Clermont, FL 34714 $6,558,177 CAD ($1,743.73 CAD/SF) 5.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Rare opportunity to own a 15-Year corporately guaranteed First Watch Café in tax-free state
- NNN lease, new construction, and transferable roof warranty provide passive ownership and stable cash flow
- Fee simple ownership allows for depreciation of the building boosting after tax returns
- Clermont's population has nearly doubled in the last decade with thousands of new homes currently under construction
- First Watch operates 540+ locations in 29 states and is publicly traded (NASDAQ: FWRG)
- Fixed 10% increases every 5 years provide a hedge against inflation and consistent rent growth
EXECUTIVE SUMMARY
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of this newly constructed First Watch Cafe featuring a 15 year NNN Lease with 10% rental increases every 5 years. First Watch opened for business November 18, 2024.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,761 SF
Building Class
B
Year Built
2024
Price
$6,558,177 CAD
Price Per SF
$1,743.73 CAD
Cap Rate
5.35%
NOI
$350,862 CAD
Tenancy
Single
Building Height
1 Story
Lot Size
82.23 AC
Zoning
RS - Restaurant
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- First Watch Cafe
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| First Watch Cafe | - | - | - | - |
NEARBY MAJOR RETAILERS
