SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, freestanding, newly renovated, First Watch investment property located in Addison (Dallas), Texas. The tenant, First Watch Restaurants, Inc, recently signed a brand new 12-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 6 years throughout the initial term and at the beginning of the first option period, steadily growing NOI and hedging against inflation. The lease is NN with minimal landlord responsibilities making it an ideal, management free investment opportunity for a passive investor in an income tax free state. The property is scheduled to open for business in December 2024.