Log In/Sign Up
Your email has been sent.
First Watch - Santa Rosa Beach FL 227 Dune Lakes Blvd 3,500 SF 100% Leased 4-Star Retail Building Santa Rosa Beach, FL 32459 $2,650,000 ($757.14/SF) 5.16% Cap Rate
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
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,500 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2019
Price
$2,650,000
Price Per SF
$757.14
Cap Rate
5.16%
NOI
$136,675
Percent Leased
100%
Building Height
1 Story
Building FAR
0.06
Lot Size
1.31 AC
Zoning
GC - General Commercial
Parking
72 Spaces (20.57 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Restaurant
- Signalized Intersection
- Monument Signage
1 of 8
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
First Watch - Santa Rosa Beach FL | 227 Dune Lakes Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.