5353 Belt Line Rd Addison, TX 75001

Property Details for 5353 Belt Line Rd

Year built

2007

Lot size

1.10 lot acres

Property size

5,672 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents the chance to acquire a fee-simple interest (land and building) in a newly renovated First Watch restaurant located at 5353 Belt Line Rd, Addison, TX 75001. The property, totaling 5,672 square feet, sits on a 1.1-acre lot with 91 parking spaces. Built in 2007 and renovated in 2024, this single-tenant property boasts a 100% occupancy rate with a strong corporate guarantee from First Watch Restaurants, Inc. The current lease is a Net Net (NN) lease with a 5.00% cap rate and a substantial Net Operating Income (NOI) of $311,109. The lease, commencing December 2024, is a 12-year term with two 5-year renewal options, featuring 10% rental increases every six years. This strategically located restaurant benefits from high visibility on a signalized corner of Belt Line Road and Prestonwood Boulevard, a major retail thoroughfare averaging 44,200 vehicles daily, and proximity to the North Dallas Tollway (161,500 VPD). The property is adjacent to Village on the Parkway, a high-traffic shopping center, and surrounded by numerous national retailers, including Whole Foods Market, Walmart, and others. The 5-mile trade area boasts a strong demographic profile with over 380,000 residents and 306,000 daytime employees, and an average household income exceeding $119,797. The property is zoned PD - Planned Development and has an APN of 008222000B02B0000. This is a truly exceptional, low-management investment opportunity in a prime location with significant upside potential. The asking price is $6,222,000.

Location Insight

City

Addison

County

Dallas

State

Texas

Longitude

-96.8297

Latitude

32.9655