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Lazy Dog 4810 Waterview Meadow Dr

9,000 SF Retail Building Richmond, TX 77407 £6,312,000 (£701/SF) 6% Net Initial Yield

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Investment Highlights

20-year corporate lease with 10% rent increases every 5 years – zero landlord maintenance or expense responsibilities
Some of the highest Average Unit Volume’s in the industry in excess of $8.7M
The company has a 20+ year operating history

Lazy Dog’s 2023 revenue totaled $397M – ranking it #122 by Nation’s Restaurant New’s Top 500 Restaurant Chains of 2024
Lazy Dog corporate has 50+ locations with 10 more under construction

Executive Summary

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 Interstate 99 (46,911 VPD).

LazyDog_RichmondTX