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Lazy Dog

$7,385,000

4810 Waterview Meadow Drive, Richmond, Texas 77407

Active
Last Updated: 02/27/2025

6.5

Cap Rate

480,000

NOI

Details:
Cap Rate:    6.5%
NOI:    $480,000
Building Size:    9,000 sqft
Lot Area:    2.52 acres
Occupancy:    100%
Lease Type:    Ground
Year Built:    2024
Tenancy:    Single
Parking Spots:    140
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 (Read more here)
  • Lazy Dog corporate has 50+ locations with 10 more under construction
  • The company has a 20+ year operating history
Description:

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 Highway 99 (46,911 VPD).

Map:
Documents:
Title
LazyDog_RichmondTX.pdf
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