Current Use by Public Records
- Retail properties & Spaces
Property Details for 5353 Belt Line Rd
- Year built
- 2007
- Lot size
- 1.10 lot acres
- Property type
- Retail properties & Spaces
- 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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Addison
- County
- Dallas
- State
- Texas
- Longitude
- -96.8297
- Latitude
- 32.9655
