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Views: 194 DOM: 78 Updated: 09.24.24 Posted: 07.23.24 Status: Sold 10.09.24

Summary

Price $3,160,000
Built/Renov 2024
Tenant Dutch Bros. Coffee
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 930
Lease Start 06-20-2024
#Units 18
Price/SF $3,397.85
Expiration 06-30-2039
Tenant Type Fast Food/QSR
NOI $158,000
R. Term 14.6
Ownership Fee Simple
Rent/SF $169.89
Increases 10.0%/5/yrs
Pop 5Mi 313,939
Lot/AC 0.98
Options 3/5yrs/10%
AHHI 5Mi $76,456

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year lease with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by West Side DB, LLC (18+ units backed)

Location Description

Dutch Bros. Coffee is strategically located on North 91st Avenue, with access to 11,700 vehicles passing by daily. The property is conveniently situated directly off the Loop 101 Freeway, a major connector for the Phoenix MSA. Additionally, it is 4 miles from State Farm Stadium, 10 miles from Grand Canyon University, and 19 miles from Phoenix Sky Harbor International Airport. The immediate...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Dutch Bros. Coffee (NYSE: BROS) is a drive-through, specialty coffee chain with company-owned and franchised locations expanding throughout the western United States. Most of its stores are...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 16,872 118,766 340,777
2024 Total Population : 15,581 112,829 325,673
2024 Employed Civilian Pop : 7,594 52,202 150,218
2024 Total Businesses : 305 2,636 6,443
2024 Average Household Income : $ 91,752 $ 86,181 $ 89,138
2024 Total Consumer Spending : $ 447 M $ 3374 M $ 9395 M
2024 Median Age : 38 40 38
2024 Total Households : 5,572 44,362 119,425
2024 Pop Age 25+: Bachelor's Degree : 1,342 10,575 30,999
2024 Average Home Value : $ 447,608 $ 388,087 $ 427,216
*ESRI data is presented for informational purposes only

Listing Broker

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