Restaurant

Net Leased Restaurant | Largest & Fastest Growing Daytime-Only Concept | Across 80-Acre Development

5310 W Broad Street, Richmond, VA 23230

Listing Price: $3,066,817

Cap Rate
5.75%
Tenant Name
First Watch Restaurant
Years Remaining On Lease
11.2
Gross SF
4,766
Guarantor
Corporate Guarantee
Rentable SF
4,766
Price/Gross SF
$643.48
Lease Type
Absolute Net
Rent Per Square Feet
$37.00

Investment Overview

Richmond is the capital city of the Commonwealth of Virginia. The City’s strategic location on the James River, built on undulating hills at the rocky fall line separating the Piedmont and Tidewater regions of Virginia, provided a natural nexus for the development of commerce. Throughout these three centuries and three modes of transportation, the downtown has always been a hub, with the Great Turning Basin for boats, the world’s only triple crossing of rail lines, and the intersection of two major interstates. Richmond is fast-becoming known for its food scene. Departures magazine named Richmond “The Next Great American Food City” while Metzger Bar & Butchery made its “Best New Restaurants: 12 To Watch” list.

Investment Highlights

  • Richmond's Willow Lawn Retail Submarket is one of the most Active and Highly Sought-After in the MSA with Historically Low Vacancy and Rental Rate Growth of 90% over the last Decade.
  • Adjacent to Libbie Mill - Midtown: A Brand New 80-Acre Mixed-Use Development Offering new Condos, Apartments, Retail, Restaurants, Offices, Trails, Green Spaces, and a World-Class Library.
  • Densely Populated Affluent Area: Features an Average Household Income of $98k+ within a 1-Mile Radius and over 248k People Residing within a 5-Mile Radius.
  • Positioned Along Area's Major Retail & Traffic Corridor: Features Easy Access & Excellent Visibility to Daily Traffic Counts Exceeding 31k Vehicles. Situated in Close Proximity to I-64 (155k+ VPD), I-95 (125k+ VPD) and I-195 (90k+ VPD).
  • Walking Distance from Willow Lawn - An Open-Air Shopping Center Featuring over 60 Nationally Recognized Stores & Restaurants. Across from a Target and Surrounded by Numerous National Retailers Including Walmart Supercenter, Home Depot, ALDI, Kroger, Lidl, Walgreens and many more.
  • Site is located within the Opportunity Zone - An Investment Program that Offers Tax Incentives through a Qualified Opportunity Fund.
  • Long Term Absolute Net Lease (Zero Landlord Responsibilities) Featuring 10% Rental Increases at Year 7 and at Each Option. 2021 Renovation.
  • This Location will feature a Slate of Signature Alcoholic Beverages and Classic Cocktails, in Addition to its Menu.

Exclusively Listed By

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

Restaurant

Net Leased Restaurant | Largest & Fastest Growing Daytime-Only Concept | Across 80-Acre Development

Listing Price: $3,066,817

Cap Rate
5.75%
Tenant Name
First Watch Restaurant
Years Remaining On Lease
11.2
Gross SF
4,766
Guarantor
Corporate Guarantee
Rentable SF
4,766
Price/Gross SF
$643.48
Lease Type
Absolute Net
Rent Per Square Feet
$37.00

Investment Highlights

  • Richmond's Willow Lawn Retail Submarket is one of the most Active and Highly Sought-After in the MSA with Historically Low Vacancy and Rental Rate Growth of 90% over the last Decade.
  • Adjacent to Libbie Mill - Midtown: A Brand New 80-Acre Mixed-Use Development Offering new Condos, Apartments, Retail, Restaurants, Offices, Trails, Green Spaces, and a World-Class Library.
  • Densely Populated Affluent Area: Features an Average Household Income of $98k+ within a 1-Mile Radius and over 248k People Residing within a 5-Mile Radius.
  • Positioned Along Area's Major Retail & Traffic Corridor: Features Easy Access & Excellent Visibility to Daily Traffic Counts Exceeding 31k Vehicles. Situated in Close Proximity to I-64 (155k+ VPD), I-95 (125k+ VPD) and I-195 (90k+ VPD).
  • Walking Distance from Willow Lawn - An Open-Air Shopping Center Featuring over 60 Nationally Recognized Stores & Restaurants. Across from a Target and Surrounded by Numerous National Retailers Including Walmart Supercenter, Home Depot, ALDI, Kroger, Lidl, Walgreens and many more.
  • Site is located within the Opportunity Zone - An Investment Program that Offers Tax Incentives through a Qualified Opportunity Fund.
  • Long Term Absolute Net Lease (Zero Landlord Responsibilities) Featuring 10% Rental Increases at Year 7 and at Each Option. 2021 Renovation.
  • This Location will feature a Slate of Signature Alcoholic Beverages and Classic Cocktails, in Addition to its Menu.

Investment Overview

Richmond is the capital city of the Commonwealth of Virginia. The City’s strategic location on the James River, built on undulating hills at the rocky fall line separating the Piedmont and Tidewater regions of Virginia, provided a natural nexus for the development of commerce. Throughout these three centuries and three modes of transportation, the downtown has always been a hub, with the Great Turning Basin for boats, the world’s only triple crossing of rail lines, and the intersection of two major interstates. Richmond is fast-becoming known for its food scene. Departures magazine named Richmond “The Next Great American Food City” while Metzger Bar & Butchery made its “Best New Restaurants: 12 To Watch” list.

Exclusively Listed By

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

MM Texture Background
MM Textured Background Lower