Language and Region
Currency

This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.

Email*

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Send me a copy

917 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

First Watch | Brand New 15 Yr Lease 2514 Santa Barbara Blvd

5,663 SF Retail Building Cape Coral, FL 33914 $4,947,000 ($874/SF) 4.75% Cap Rate

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Investment Highlights

Brand New 15-Year Lease | Options To Extend | Scheduled Rental Increases | Q2 2025 Grand Opening
Signalized, Hard-Corner Intersection (86,200 VPD) |Excellent Visibility | Significant Street Frontage
Direct, Affluent Consumer Base | Strong Demographics In 5-Mile Trade Area

Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
Outparcel to Publix & Target Anchored Center | Retail Corridor | Strong National/Credit Tenant Presence

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, First Watch investment property located in Cape Coral, Florida. The tenant, First Watch Restaurants, Inc., recently signed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 7.50% rental increase after year 5 and 10% rental increases every 5 years thereafter throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The property is scheduled to open in May of 2025.