Do not underwrite the rendering
A busy dining room in a marketing image is not a credit tenant. Build the retail case from seat count, realistic turns, average check, labor, occupancy cost, and the operator's capitalization.
Stress the rent
A sustainable lease leaves room for volatility.
Occupancy cost as a share of sales
Seasonal downside case
Delivery and extraction constraints
Landlord capital for specialist infrastructure
Value the right spillover
Good F&B may support residential absorption and identity, but do not capitalize that halo twice. Keep the restaurant's direct income separate from any defensible premium elsewhere in the project.