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Views: 142 DOM: 203 Updated: 10.28.24 Posted: 05.02.24 Status: Active

Summary

Price $2,380,000
Built/Renov 2024
Tenant Dutch Bros Coffee (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 950
Lease Start 02-03-2024
#Units 831
Price/SF $2,505.26
Expiration 02-28-2039
Tenant Type Fast Food/QSR
NOI $119,000
R. Term 14.3
Ownership Ground Lease
Rent/SF $125.26
Increases 10.0%/5/yrs
Pop 5Mi 146,326
Lot/AC 1.97
Options 3/5yrs/10%
AHHI 5Mi $87,283

Lease Highlights

  • Brand new 2024 construction
  • The tenant recently signed a brand-new 15-year ground lease with 3 (5-year) option periods to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and options
  • NNN leased | Limited landlord responsibilities (Landlord is responsible for carrying commercial general liability insurance, subject to tenant reimbursement
  • Corporate guaranteed lease (NYSE: BROS)

Location Description

Dutch Bros is strategically located at the signalized, hard corner intersection of McGavock Park and Elm Hill Pike, with access to a combined daily traffic count of 25,600 vehicles. The property benefits from nearby access onto State Highway 155 (98,300 VPD), Interstate 40 (195,500 VPD), and Interstate 24 (173,800 VPD), making this a centralized location. Additionally, it is situated within a...

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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
2028 Total Population : 4,081 40,731 154,274
2023 Total Population : 4,036 39,987 146,326
2023 Employed Civilian Pop : 2,076 22,323 81,693
2023 Total Businesses : 509 2,600 7,903
2023 Average Household Income : $ 92,172 $ 80,190 $ 87,283
2023 Total Consumer Spending : $ 145 M $ 1228 M $ 4920 M
2023 Median Age : 40 38 36
2023 Total Households : 1,815 17,535 64,364
2023 Pop Age 25+: Bachelor's Degree : 1,099 8,452 31,024
2023 Average Home Value : $ 372,453 $ 381,693 $ 423,832
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Elm Hill Pike 2022 6,836 0.37 mi
Briley Pkwy 2022 6,470 0.38 mi
Jade Dr 2022 6,391 0.43 mi
Crystal Dr 2022 6,631 0.43 mi
Elm Hill Pike McGavock Pike 2022 15,779 0.55 mi
ELM HILL PK. Royal Pkwy 2021 16,168 0.55 mi
Briley Pkwy Briley Pw 2018 98,314 0.58 mi
Briley Parkway Dabbs Ave 2022 85,519 0.60 mi
SR 155 Sanborn Dr 2021 72,337 0.60 mi
Briley Parkway Revere Pl 2022 85,393 0.65 mi

Listing Broker

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