4810 Waterview Meadow Dr - Restaurant FOR SALE


Richmond, TX 77407
$7,385,000 USD
650-678-7200
4810 Waterview Meadow Dr, Richmond, TX for Sale
$7,385,000 USD
Restaurant - FOR SALE
1/5
null | 6.5% Cap Rate

4810 Waterview Meadow Dr
Richmond, TX 77407


HIGHLIGHTS

  • 20-year corporate lease with 10% rent increases every 5 years – zero landlord maintenance or expense responsibilities
  • Lazy Dog’s 2023 revenue totaled $397M – ranking it #122 by Nation’s Restaurant New’s Top 500 Restaurant Chains of 2024
  • Some of the highest Average Unit Volume’s in the industry in excess of $8.7M
  • Lazy Dog corporate has 50+ locations with 10 more under construction
  • The company has a 20+ year operating history

OVERVIEW

This new construction, Lazy Dog features a 20-year absolute NNN ground lease with 10% rental increases every 5 years. Additionally, this lease is guaranteed by corporate and backed by all 50+ Lazy Dog locations, whose 2023 revenue totaled $397M – ranking it #42 in the sit-down casual restaurant space by Nation’s Restaurant New’s Top 500 Restaurant Chains of 2023.There is abundant acreage in Waterview Town Center, an ~1M+ SF mix-used development. The subject property is adjacent to two new luxury apartment communities totaling 560 units. This is a prominent location within Waterview and fronts Interstate 99 (46,911 VPD).

FOR SALE DETAILS

PRICE

$7,385,000 USD

PRICE/SF

$821 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Lazy Dog

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

140

LAND DETAILS

LAND ACRES

2.52 AC

LAND SF

109,771 SF

ZONING

-

APN/PARCEL ID

0062-00-000-0013-907

ASK ABOUT THIS PROPERTY

John AndreiniCP Partners CREMore Info
650-678-7200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

John AndreiniCP Partners CREMore Info
650-678-7200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.