Upper Marlboro, MD - First Watch
$4,432,000
9680 Lottsford Ct, Kettering, MD 20774
5.35
Cap Rate
237,096
NOI
Details:
Description:
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding First Watch investment property located in Upper Marlboro, Maryland (Washington DC MSA). The tenant, First Watch, recently signed a new, 15-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, providing a hedge against inflation and steadily growing NOI. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management free investment for a passive investor. As of Q3 2025, First Watch total revenue increased 25.6% compared to the same period of 2024 and same-restaurant sales grew 7.1%.
The asset is located on an oversized, 2.51 acre lot near the signalized, hard corner intersection of State Highway 202 and Lottsford Road combining to average over 89,100 vehicles passing by daily. State Highway 202, is a major retail thoroughfare serving the city of Upper Marlboro. The property is in close proximity to Woodmore Towne Center, a 105+ acre shopping center featuring national/credit tenants including Costco, Wegmans, Nordstrom Rack, Best Buy, Chipotle, CAVA, Party City, Mattress Firm and many others. The site is located approximately 2 miles from Largo Plaza, a Lowe’s anchored center featuring national/credit tenants including Target, PetSmart, Starbucks, Five Below, GameStop, CVS, and more. The asset is located approximately 2 miles from Northwest Stadium (67,617 seats), the home of the NFL’s Washington Commanders. The subject property is in close proximity to the University of Maryland Capital Region Medical Center (205 beds), the largest medical facility in Prince George County. Furthermore, the site is located directly across from a new, 398+ unit multifamily development. The 5-mile trade area is supported by a population of over 276,000 residents and over 96,600 employees with an affluent average household income of $124,952, providing a direct consumer base from which to draw.
Location
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