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Views: 147 DOM: 333 Updated: 10.25.24 Posted: 01.23.24 Status: Active

Summary

Price $2,065,000
Built/Renov 2023
Tenant Dutch Bros. Coffee
Cap Rate 5.40%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 950
Lease Start 06-30-2023
#Units 831
Price/SF $2,173.68
Expiration 06-30-2038
Tenant Type Fast Food/QSR
NOI $111,500
R. Term 13.6
Ownership Fee Simple
Rent/SF $117.37
Increases 10.0%/5/yrs
Pop 5Mi 153,604
Lot/AC 0.47
Options 4/5yrs/10%
AHHI 5Mi $74,805

Lease Highlights

  • Brand-new 2023 construction
  • Dutch Bros. Coffee recently executed a new 15-year lease with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the primary term and options
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed | NYSE: BROS

Location Description

This newly constructed property is located off Marsha Sharp Fwy. (35,167+ VPD), the main thoroughfare around Texas Tech University campus and through the Lubbock area, and right off of 4th Street (12,694+ VPD). Dutch Bros. is positioned in a prime area of Lubbock, only 1.5 miles from University Medical Center, a 500-bed teaching hospital, less than 4 miles from Lubbock Preston Smith...

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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 : 10,703 67,106 150,766
2023 Total Population : 10,583 66,693 149,602
2023 Employed Civilian Pop : 4,717 27,563 68,771
2023 Total Businesses : 1,099 3,265 5,914
2023 Average Household Income : $ 38,314 $ 52,743 $ 70,483
2023 Total Consumer Spending : $ 144 M $ 1120 M $ 3500 M
2023 Median Age : 24 25 30
2023 Total Households : 4,238 24,013 56,501
2023 Pop Age 25+: Bachelor's Degree : 548 4,189 15,593
2023 Average Home Value : $ 129,805 $ 161,353 $ 195,310
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Marsha Sharp Fwy Ave R 2006 23,420 0.04 mi
Marsha Sharp Fwy Ave R 2010 13,227 0.05 mi
Ave Q 4th St 2010 33,043 0.07 mi
Ave Q 4th St 2010 30,465 0.07 mi
5th St Ave R 2017 1,466 0.08 mi
Ave Q 4th St 2017 20,152 0.09 mi
Ave Q Mac Davis Ln 2010 19,619 0.14 mi
Mac Davis Ln Ave R 2017 4,487 0.14 mi
Mac Davis Ln Ave Q 2010 7,435 0.15 mi
Mac Davis Ln Ave Q 2010 4,544 0.16 mi

Listing Broker

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