Santa Rosa Beach, FL - First Watch

Description:

• The tenant has 8+ years remaining with 3 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% increases every 5-years throughout the initial term and at the beginning of each option period
• First Watch (NASDAQ: FWRG) is a rapidly expanding restaurant chain with over 620 locations across 32 states
• First Watch was named “#1 Best Breakfast” by Newsweek Readers’ Choice (Article)
• This First Watch location has 1,000+ positive Google Reviews and an average rating of 4.5/5 stars
• First Watch opened a record 64 new restaurants across 23 states and posted same restaurant sales growth of 3.6% YoY in 2025

• The First Watch is at the signalized, hard corner intersection of US Hwy 98 and W Hewett Rd which combined average 49,500 VPD
• The site benefits from excellent visibility via significant street frontage with a large monument sign
• Bishop Landing has plans to include 109 townhomes and 88 single family homes
• Starwood Subdivision at North Beach, new development of 108 single family home lots
• New HCA Healthcare Center on Hwy 98 just down the road next to Publix
• DR Horton’s Holley Grove at Peach Creek will bring 38 new single family homes across 12 acres
• DR Horton’s Parkside subdivision on 30A is a new single-family home community with 124 homes

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Listing ID: a28TP000002CYw1YAG