First Watch | 2963 S Church St
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First Watch 2963 S Church St
3,900 SF Retail Building Murfreesboro, TN 37127 £3,579,535 (£918/SF) 5.25% Net Initial Yield
Investment Highlights
- New 12-Year NNN Lease to First Watch (NASDAQ: FWRG) with 10% Rental Escalation in Year 7 and at Options
- Plans to Grow to 2,000+ Locations in Coming Years
- Excellent Access and Visibility Along S. Church Street - 52,028 AADT
- Corporate Lease to Rapidly Growing Casual Dining Concept
- Brand New 2024 Construction
- Low Submarket Vacancy of 1.8%
Executive Summary
South Boro is prominently located with excellent access and visibility along South Church Street (50,028 AADT) approximately 1.5 miles from its junction with the I-24 arterial (138,023 AADT). South Church Street is a major arterial, providing easy access to Nashville and other surrounding areas.
The property is conveniently located near major retailers, including Walmart Supercenter (2.3 million annual visits per Placer.Ai), Kroger (1.4 million annual visits, top 20% location in Tennessee), ALDI (328,000 annual visits), Planet Fitness, and Walgreens (394,000 annual visits). It is also conveniently located near The Avenue Murfreesboro (3.4 million annual visits), which features stores like Best Buy, Belk, Haverty’s, Dick’s Sporting Goods, Cost Plus World Market, and Petco. Another notable nearby retail center is The Oaks (3.1 million annual visitors), with anchor stores like Marshall’s, Sportsman’s Warehouse, Ross, and Ashley Homestore.
This property is listed in conjunction with Tennessee-licensed real estate broker Kabat Real Estate Solutions. (Jon Parker, TN License #255763)
The property is conveniently located near major retailers, including Walmart Supercenter (2.3 million annual visits per Placer.Ai), Kroger (1.4 million annual visits, top 20% location in Tennessee), ALDI (328,000 annual visits), Planet Fitness, and Walgreens (394,000 annual visits). It is also conveniently located near The Avenue Murfreesboro (3.4 million annual visits), which features stores like Best Buy, Belk, Haverty’s, Dick’s Sporting Goods, Cost Plus World Market, and Petco. Another notable nearby retail center is The Oaks (3.1 million annual visitors), with anchor stores like Marshall’s, Sportsman’s Warehouse, Ross, and Ashley Homestore.
This property is listed in conjunction with Tennessee-licensed real estate broker Kabat Real Estate Solutions. (Jon Parker, TN License #255763)
Property Facts
Sale Type
Investment NNN
Sale Condition
Design & Build
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,900 SF
Building Class
B
Year Built
2024
Construction Status
Under Construction
Price
£3,579,535
Price Per SF
£918
Net Initial Yield
5.25%
NOI
£187,943
Tenancy
Single
Number of Floors
1
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Putnam Daily -
Vahe Nokhoudian -
Fisher James Capital
1 of 2
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First Watch | 2963 S Church St
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