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227 Dune Lakes Blvd - First Watch - Santa Rosa Beach FL 1.31 Acres of Commercial Land Offered at $2,650,000 in Santa Rosa Beach, FL 32459
Investment Highlights
- 8+ Years Remaining | Options To Extend | Scheduled Increases
- Strong National/Credit Tenant Presence | Walmart Supercenter - 78,200+ SF, Grand Boulevard @ Sandestin - 775,000 SF Mixed-Use, Bay Town Wharf, Publix
- Direct, Affluent Consumer Base | Strong Demographics | Population Growth
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities | No State Income Tax
- Signalized, Hard Corner Intersection | Excellent Visibility | New Development
Executive Summary
• The tenant has 8+ years remaining with 3 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% increases every 5-years throughout the initial term and at the beginning of each option period
• First Watch (NASDAQ: FWRG) is a rapidly expanding restaurant chain with over 620 locations across 32 states
• First Watch was named “#1 Best Breakfast” by Newsweek Readers’ Choice (Article)
• This First Watch location has 1,000+ positive Google Reviews and an average rating of 4.5/5 stars
• First Watch opened a record 64 new restaurants across 23 states and posted same restaurant sales growth of 3.6% YoY in 2025
• The lease features 10% increases every 5-years throughout the initial term and at the beginning of each option period
• First Watch (NASDAQ: FWRG) is a rapidly expanding restaurant chain with over 620 locations across 32 states
• First Watch was named “#1 Best Breakfast” by Newsweek Readers’ Choice (Article)
• This First Watch location has 1,000+ positive Google Reviews and an average rating of 4.5/5 stars
• First Watch opened a record 64 new restaurants across 23 states and posted same restaurant sales growth of 3.6% YoY in 2025
Property Facts
| Price | $2,650,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 1.31 AC |
| Zoning | GC - General Commercial | ||
| Price | $2,650,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 1.31 AC |
| Zoning | GC - General Commercial |
1 Lot Available
Lot
| Price | $2,650,000 | Lot Size | 1.31 AC |
| Price Per AC | $2,022,900.76 |
| Price | $2,650,000 |
| Price Per AC | $2,022,900.76 |
| Lot Size | 1.31 AC |
1 1
Property Taxes
| Parcel Number | 30-2S-20-33230-000-001A | Improvements Assessment | $757,019 |
| Land Assessment | $3,146,707 | Total Assessment | $3,903,726 |
Property Taxes
Parcel Number
30-2S-20-33230-000-001A
Land Assessment
$3,146,707
Improvements Assessment
$757,019
Total Assessment
$3,903,726
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227 Dune Lakes Blvd - First Watch - Santa Rosa Beach FL
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