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First Watch | Absolute NNN Ground Lease 12075 SW 152nd St 5,406 SF Retail Building Miami, FL 33177 $5,440,000 ($1,006.29/SF) 4.75% Cap Rate
Investment Highlights
- Brand New 10-Year Lease | Scheduled Rental Increases | Established Brand
- Outparcel to Deerwood Town Center | Florida Turnpike | Dense Retail Corridor
- Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes
Executive Summary
• The tenant just recently signed a brand new 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years and at the beginning of each option, growing NOI and hedging against inflation
• First Watch is the leading Daytime Dining concept serving made-to-order breakfast, brunch and lunch with more than 630+ locations
• The lease features 10% rental increases every 5 years and at the beginning of each option, growing NOI and hedging against inflation
• First Watch is the leading Daytime Dining concept serving made-to-order breakfast, brunch and lunch with more than 630+ locations
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,406 SF
Building Class
B
Year Built/Renovated
2001/2025
Price
$5,440,000
Price Per SF
$1,006.29
Cap Rate
4.75%
NOI
$258,401
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.01 AC
Zoning
Commercial - Commercial
Parking
67 Spaces (12.39 Spaces per 1,000 SF Leased)
Frontage
86’ on SW 152nd St
Amenities
- Restaurant
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 30-5924-005-0035 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,459,496 |
Property Taxes
Parcel Number
30-5924-005-0035
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,459,496
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First Watch | Absolute NNN Ground Lease | 12075 SW 152nd St
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