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Restaurant

First Watch

725 Schillinger Rd S, Mobile, AL 36695

Listing Price: $3,915,000

Cap Rate
5.75%
Tenant Name
First WAtch
Years Remaining On Lease
15.0
Guarantor
Corporate Guarantee
Rentable SF
6,700
Lease Type
Absolute Net
Rent Per Square Feet
$33.58

Investment Overview

Prime Retail Location

Across from Walmart and Target, Anchored Shopping Centers

Located on Main Retail Corridor with Several Major Retailers such as Walmart, Lowe’s Home Improvement, Chick-fil-A, At Home, Hobby Lobby, Rouses Market, Ulta Beauty, Wawa, Kohl’s, and Many More

Large Lot of 1.37 Acres Provides Ample Space for 98 Parking Stalls

Strong Corporate Guarantee

Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market

First Watch is the Leading Daytime Dining Concept Serving Made to Order Breakfast, Brunch, and Lunch with More Than 630+ Locations

Publicly Traded (NASDAQ: FWRG) with Over $1 Billion in Annual Revenue

Scheduled 10% Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation

Pride of Ownership Mobile, AL

Affluent Area with the Average Household Income Exceeding $90,000 Within 5 Miles

High Density with Over 121,000 Residents Within 5 Miles

Less Than 1 Mile From Mobile Regional Airport, which Sees Over 1 Million Annual Travelers

Mobile Is Alabama’s Fourth-Largest City With 430,000+ Metro Residents and Major Expansion Projects Underway

Investment Highlights

  • New Corporate Guaranteed 15-Year Lease First Watch
  • Located on the Corner of a Signalized Intersection with Traffic Counts Exceeding 29,000 CPD
  • Outparcel to Home Depot and Across from Schillinger Shopping Center, Anchored by Target and CVS, Creating Strong Tenant Synergy and Consistent Daily Traffic

Broker of Record

  • Eddie Greenhalgh

    Senior Managing Director Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Financing By

Listing Price: $3,915,000

Cap Rate
5.75%
Tenant Name
First WAtch
Years Remaining On Lease
15.0
Guarantor
Corporate Guarantee
Rentable SF
6,700
Lease Type
Absolute Net
Rent Per Square Feet
$33.58

Investment Highlights

  • New Corporate Guaranteed 15-Year Lease First Watch
  • Located on the Corner of a Signalized Intersection with Traffic Counts Exceeding 29,000 CPD
  • Outparcel to Home Depot and Across from Schillinger Shopping Center, Anchored by Target and CVS, Creating Strong Tenant Synergy and Consistent Daily Traffic

Investment Overview

Prime Retail Location Across from Walmart and Target, Anchored Shopping Centers Located on Main Retail Corridor with Several Major Retailers such as Walmart, Lowe’s Home Improvement, Chick-fil-A, At Home, Hobby Lobby, Rouses Market, Ulta Beauty, Wawa, Kohl’s, and Many More Large Lot of 1.37 Acres Provides Ample Space for 98 Parking Stalls Strong Corporate Guarantee Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market First Watch is the Leading Daytime Dining Concept Serving Made to Order Breakfast, Brunch, and Lunch with More Than 630+ Locations Publicly Traded (NASDAQ: FWRG) with Over $1 Billion in Annual Revenue Scheduled 10% Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation Pride of Ownership Mobile, AL Affluent Area with the Average Household Income Exceeding $90,000 Within 5 Miles High Density with Over 121,000 Residents Within 5 Miles Less Than 1 Mile From Mobile Regional Airport, which Sees Over 1 Million Annual Travelers Mobile Is Alabama’s Fourth-Largest City With 430,000+ Metro Residents and Major Expansion Projects Underway

Broker of Record

  • Eddie Greenhalgh

    Senior Managing Director Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

Financing By

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