Log In/Sign Up
Your email has been sent.
First Watch 1702 Commons Dr 7,887 SF Retail Building Geneva, IL 60134 $3,025,000 ($383.54/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- BITE-SIZED DEAL
- TENANT GROWTH & BRAND STRENGTH
- RANDALL ROAD RETAIL CORRIDOR | 31,900 VPD
- NEW 10-YEAR LEASE - FIRST WATCH BACKFILL
- GENEVA COMMONS OUTPARCEL: 40,370 square foot open-air shopping center with over 60 retailers. 3.2M annual visitors
- DESIRABLE TRADE AREA DEMOGRAPHICS | KANE COUNTY TAX ADVANTAGE
EXECUTIVE SUMMARY
CBRE’s Net Lease Property Group – Midwest is pleased to present to qualified investors a free-standing First Watch in Geneva, IL. First Watch opened in 2023 on a 10-year initial lease and currently has close to eight years of term remaining. The corporate lease features a healthy 10% rental increase in September 2028 and in each of the two, 5-year option periods.
The property is an outparcel to Geneva Commons, a premier 440,000-square-foot open-air shopping center featuring national retailers such as Crate & Barrel, Pottery Barn, Barnes & Noble, Dick’s Sporting Goods, Banana Republic, Williams-Sonoma, Sephora, and lululemon. The center is strategically positioned along Randall Road, one of the most active retail corridors in the western suburbs of Chicago.
Nearby, Randall Square Shopping Center further enhances the retail synergy with tenants like Marshalls, Ulta, Michaels, PetSmart, and Nordstrom Rack 3. This dense retail environment, combined with Geneva’s charming downtown and strong residential base, makes the First Watch location a compelling investment opportunity.
The property is an outparcel to Geneva Commons, a premier 440,000-square-foot open-air shopping center featuring national retailers such as Crate & Barrel, Pottery Barn, Barnes & Noble, Dick’s Sporting Goods, Banana Republic, Williams-Sonoma, Sephora, and lululemon. The center is strategically positioned along Randall Road, one of the most active retail corridors in the western suburbs of Chicago.
Nearby, Randall Square Shopping Center further enhances the retail synergy with tenants like Marshalls, Ulta, Michaels, PetSmart, and Nordstrom Rack 3. This dense retail environment, combined with Geneva’s charming downtown and strong residential base, makes the First Watch location a compelling investment opportunity.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,887 SF
Building Class
B
Year Built/Renovated
2002/2023
Price
$3,025,000
Price Per SF
$383.54
Cap Rate
6%
NOI
$181,401
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
0.79 AC
Parking
81 Spaces (10.27 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Restaurant
- Signage
- Waterfront
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Accommodation and Food Services
- -
- -
- Aug 2033
First Watch is an award-winning Daytime Dining concept serving made-to-order breakfast, brunch and lunch using fresh ingredients. A recipient of hundreds of local “Best Breakfast” and “Best Brunch” accolades, First Watch’s chef-driven menu includes elevated executions of classic favorites along with First Watch specialties.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Accommodation and Food Services | - | - | Aug 2033 |
Bike Score®
Very Bikeable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12-05-228-009 | Improvements Assessment | $24,340,573 |
| Land Assessment | $5,233,495 | Total Assessment | $29,574,068 |
PROPERTY TAXES
Parcel Number
12-05-228-009
Land Assessment
$5,233,495
Improvements Assessment
$24,340,573
Total Assessment
$29,574,068
1 of 10
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
First Watch | 1702 Commons Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.