Dutch Bros. (GL)

847 Eastern Bypass, Richmond, KY 40475

$2,200,000

Cap Rate 5.85%

$2,385,000

Cap Rate 5.40%

Views: 173 DOM: 238 Updated: 10.29.24 Posted: 12.20.23 Status: Sold 08.15.24

Summary

Price $2,200,000 $2,385,000	Built/Renov 2023	Tenant Dutch Bros. (GL)
Cap Rate 5.85% 5.40%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 950	Lease Start 05-06-2023	#Units 716
Price/SF $2,315.79 $2,510.53	Expiration 05-31-2043	Tenant Type Fast Food/QSR
NOI $128,810	R. Term 18.4	Ownership Ground Lease
Rent/SF $135.59	Increases 10.0%/5/yrs	Pop 5Mi 55,803
Lot/AC 0.70	Options 3/5yrs/10%	AHHI 5Mi $60,008

Lease Highlights

Brand-new 2023 construction
Dutch Bros. recently signed a new 20-year ground lease with 3 (5-year) options to extend
The lease features 10% rent increases every 5 years
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease (NYSE: BROS)

Location Description

Dutch Bros is strategically located with excellent visibility at the signalized entrance to Carriage Gate Shopping Center along Eastern Bypass 876, with access to 29,379 vehicles passing by daily. It serves as an outparcel to Carriage Gate Shopping Center, hosting national tenants including Hobby Lobby and Harbor Freight Tools, Dunham’s Sports, Dollar Tree, and more. Additionally, the property...

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Key Features

New construction
Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Strong tenant synergy
Population increase trend
Brand new lease
Long 15+ yr lease
Absolute NNN
Corporate Guarantee

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Links

Dutch Bros. Coffee Wikipedia Dutch Bros. Coffee Wikipedia Richmond, Kentucky Zip Code 40475 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Dutch Bros.
Guarantor:Corp Traded
Company:Boersma Bros. LLC
# Units:716
Stock: NYSE: BROS

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. The vast majority of its...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,536	36,852	49,549
2023 Total Population :	6,361	35,572	47,811
2023 Employed Civilian Pop :	3,228	17,879	24,022
2023 Total Businesses :	467	1,579	1,885
2023 Average Household Income :	$ 68,898	$ 67,556	$ 72,646
2023 Total Consumer Spending :	$ 151 M	$ 866 M	$ 1235 M
2023 Median Age :	28	32	33
2023 Total Households :	2,511	14,635	19,451
2023 Pop Age 25+: Bachelor's Degree :	888	5,230	7,322
2023 Average Home Value :	$ 288,743	$ 260,958	$ 278,689

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Eastern Byp	Big Hill Ave	2000	27,442	0.18 mi
Eastern Bypass	Kit Carson Dr	2022	29,029	0.23 mi
Boggs Ln	Richwood Blvd	2015	7,007	0.23 mi
BOGGS LN		2021	5,771	0.25 mi
Eastern Byp	Boggs Ln	2000	36,664	0.31 mi
Boggs Ln	Ashland Ave	2001	5,142	0.43 mi
Eastern Byp	Berea Rd	2002	29,149	0.43 mi
Big Hill Avenue	Richmond E	2018	1,173	0.43 mi
Big Hill Ave	Northland Dr	2014	11,115	0.45 mi
Big Hill Ave	Boggs Ln	2002	16,605	0.49 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

151 Listings
19030 Views
63 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
18569 Views
65 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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