Skip to main content

Restaurant

First Watch | New 10-Yr Lease | Walmart Outparcel

346 Robert Smalls Pkwy, Beaufort, SC 29902

Listing Price: $2,300,000

Cap Rate
5.65%
Tenant Name
First Watch
Years Remaining On Lease
9.8
Gross SF
5,655
Guarantor
Personal Guarantee
Rentable SF
5,655
Price/Gross SF
$406.72
Lease Type
Double Net
Rent Per Square Feet
$22.99

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale, First Watch in Beaufort, South Carolina. The subject property has a 10 year double net lease with a new roof in process that was paid by the seller. First Watch is being offered for $2.3 million.

Investment Highlights

  • New FirstWatch 10-Year Double-Net Lease in Beaufort, South Carolina
  • Outparcel to Walmart Supercenter with 1.95 Million Customer Visits in T12 Months; #1 of Four Walmarts in 30-Mile Radius, and #3 of 14 in 50-Mile Radius
  • Directly Across the Street from New $60 Million, 200,000-Square-Foot Beaufort Station Retail Development with Hobby Lobby, HomeGoods, Ross, ULTA, ALDI, Old Navy, and More
  • 10 Percent Rent Increases Every Five Years of Primary Term and Options
  • Extremely Minimal "NN+" Landlord Responsibilities - Roof and Structure Only
  • New Roof in Process – Paid by Seller. Approximately $1.5 Million Invested by Tenant in Interior Fit Out and Overall Renovation – All-New HVAC, New Patio and Bar, New Sprinkler System.
  • Extensive Tenant Repair, Maintenance and Replacement Obligations Itemized in Lease Agreement
  • Experienced Six-Unit First Watch Franchisee Since 2017 with Exclusive Rights to the Charleston, South Carolina and Augusta and Savannah, Georgia Markets

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Financing By

Restaurant

First Watch | New 10-Yr Lease | Walmart Outparcel

Listing Price: $2,300,000

Cap Rate
5.65%
Tenant Name
First Watch
Years Remaining On Lease
9.8
Gross SF
5,655
Guarantor
Personal Guarantee
Rentable SF
5,655
Price/Gross SF
$406.72
Lease Type
Double Net
Rent Per Square Feet
$22.99

Investment Highlights

  • New FirstWatch 10-Year Double-Net Lease in Beaufort, South Carolina
  • Outparcel to Walmart Supercenter with 1.95 Million Customer Visits in T12 Months; #1 of Four Walmarts in 30-Mile Radius, and #3 of 14 in 50-Mile Radius
  • Directly Across the Street from New $60 Million, 200,000-Square-Foot Beaufort Station Retail Development with Hobby Lobby, HomeGoods, Ross, ULTA, ALDI, Old Navy, and More
  • 10 Percent Rent Increases Every Five Years of Primary Term and Options
  • Extremely Minimal "NN+" Landlord Responsibilities - Roof and Structure Only
  • New Roof in Process – Paid by Seller. Approximately $1.5 Million Invested by Tenant in Interior Fit Out and Overall Renovation – All-New HVAC, New Patio and Bar, New Sprinkler System.
  • Extensive Tenant Repair, Maintenance and Replacement Obligations Itemized in Lease Agreement
  • Experienced Six-Unit First Watch Franchisee Since 2017 with Exclusive Rights to the Charleston, South Carolina and Augusta and Savannah, Georgia Markets

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale, First Watch in Beaufort, South Carolina. The subject property has a 10 year double net lease with a new roof in process that was paid by the seller. First Watch is being offered for $2.3 million.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s): SC: 86628

    South Carolina

Financing By

MM Texture Background
MM Textured Background Lower