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90Ten Sells 5,672-SF First Watch Restaurant In Dallas For $5.66M With SRS Real Estate Partners

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SOLD
$5,660,000
Matthew Mousavi
Patrick Luther

Texas

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Retail5,672 SF
Sold 08/21/2025
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SOLD

90Ten Sells 5,672-SF First Watch Restaurant In Dallas For $5.66M With SRS Real Estate Partners

5353 Belt Line Road

See Similar Deals
Retail5,672 SF
Sold 08/21/2025
Matthew Mousavi
Patrick Luther
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Retail
Price Per Square Foot:$997
Total Square Footage:5,672 SF
Transaction Type:Sale

The asset involved in this transaction is a newly renovated 5,672 square foot First Watch restaurant located at 5353 Belt Line Road in Addison, TX. The property sits on 1.1 acres and was sold for $5,660,000, resulting in a price per square foot of $998. The sale achieved a cap rate of 5.5% and is situated in the Dallas market.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $5,660,000
  • Address: 5353 Belt Line Road
  • Market: Dallas
  • Asset Size: 5,672 square feet
  • Price per Square Foot: $998
  • Cap Rate: 5.5%
  • Seller: 90Ten
  • Brokers: Matthew Mousavi & Patrick Luther - SRS Real Estate Partners

Matthew Mousavi and Patrick Luther from SRS Real Estate Partners represented the seller, 90Ten, in this transaction. The buyer, an investor from New Mexico, acquired the property as part of a 1031 exchange, supported by a new 12-year corporate-guaranteed lease.

Players

Patrick Luther
SRS Real Estate Partners
Patrick Luther
62 deals$949.3M volume
BROKER
Matthew Mousavi
SRS Real Estate Partners
Matthew Mousavi
75 deals$1.1B volume
BROKER

Details

SOLD
IMAGE: Matthew Mousavi & Patrick Luther DATE: 08/21/2025 ADDRESS: 5353 Belt Line Road MARKET: Dallas ASSET TYPE: Retail ~ ACRES: 1.1 SELLER: 90Ten (@90ten_) BROKERS: Matthew Mousavi & Patrick Luther (@Luther_Companies) - SRS Real Estate Partners (@SRSRealEstatePartners) SALE PRICE: $5,660,000 SF: 5,672 ~ PPSF: $998 NOTE: SRS Real Estate Partners arranged the $5.66M sale of a newly renovated 5,672-sf First Watch restaurant at 5353 Belt Line Rd. in Addison, TX, at a 5.5% cap rate and $998 psf. Dallas-based 90Ten sold the property to a New Mexico investor in a 1031 exchange, backed by a new 12-year corporate-guaranteed lease.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$301,866.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,108.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,831.29
Annual Debt Service$321,975.45