Listed by Marcus & Millichap - San Diego
$3,913,000
FIRST WATCH (NASDAQ: FWRG) | #1 MOST VISITED LOCATION IN TX
Details
APN 90.9193.901.007.00.112
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 3,952
Units 1
Cap Rate 5.75%
NOI $225,000
Tenancy Single
Brand/Tenant First Watch
Lease Type NNN
Lease Expiration 08/31/2037
Remaining Term 11.1
Rent Bumps Yes
Class A
Year Built 2018
Stories 1
Acreage 1.150
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
#1 Location in TX & 95th Percentile Nationwide | Within Academy Sports, TJ Maxx Anchored Center
Marketing description
PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE: https://themansourgroup.com/properties/310646/first-watch-nasdaq-fwrg
Investment highlights
- Long Term Corporate Backed NNN Lease Featuring 10% Rental Increases at Year 7 and Each Option. Brand New 2025 High Quality Construction.
- Since Opening, this First Watch is the most visited Location in Texas and in the 95th Percentile Nationwide per placer.ai. Along N Hwy77 (27k+ VPD), Waxahachie’s Primary Retail thoroughfare.
- Established National Daytime Dining Concept with Scalable Growth Platform - Publicly Traded on NASDAQ, First Watch Operates 630+ Restaurants Across 32 States.
- Strong Daytime Employment Base - Supported by nearby Employers including Baylor Scott & White Medical Center, Waxahachie Independent School District, and Regional Distribution and Logistics Operations.
- Within Waxahachie Marketplace - a Large Multi-Tenant Power Center Anchored by Academy Sports, TJ Maxx, Ulta, Kirkland’s, Five Below and more, driving Strong Retail Demand in a High-Growth Ellis County Trade Area.
- Rapid Population Growth and Affluent Demographics - Waxahachie has Grown more than 25% Since 2020 with Annual Growth near 3–4%, supported by Average Household Incomes Exceeding $108k within a 3-Mile Radius.
- Rapid Residential Development Pipeline - Surrounded by Expanding Master Planned Communities and New Single Family Housing Developments driving Continued Rooftop Growth in Waxahachie.
- Positioned within Waxahachie’s Dominant Retail Hub - Surrounded By National Retail Anchors including Target, The Home Depot, Walmart Supercenter, H-E-B, Best Buy, Lowe's, Hobby Lobby, Belk and many more. Immediate Access to Interstate 35E - Located Minutes from Interstate 35E, a Major North South Arterial Connecting to Downtown Dallas, Lancaster, Red Oak, and the Broader Dallas Fort Worth Metroplex.
Listing Contacts
Listed by Marcus & Millichap - San Diego
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$225,000.00
$18,750.00/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
Map
Zoning
PD-C PlannedPlanned Development Commercial
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View all 207 uses
View all 207 uses Last updated May 12, 2026 For deeper zoning details, reports are available at Zoneomics
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