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Views: 89 Updated: 08.06.24 Posted: 01.19.24 Status: Sold

Summary

Price $2,941,000
Built/Renov 2024
Tenant Dutch Bros. Coffee (GL)
Cap Rate 4.25%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 1,050
Lease Start 03-01-2024
#Units 831
Price/SF $2,800.95
Expiration 03-01-2039
Tenant Type Fast Food/QSR
NOI $125,000
R. Term 14.5
Ownership Ground Lease
Rent/SF $119.05
Increases 10.0%/5/yrs
Pop 5Mi 274,759
Lot/AC 0.58
Options 3/5yrs/10%
AHHI 5Mi $150,944

Lease Highlights

  • Brand-new 2024 construction
  • Dutch Bros. Coffee recently signed a new 15-year lease with 3 (5-year) options to extend
  • The lease features a 10% rental increase every 5 years throughout the initial term and at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed ground lease

Location Description

Dutch Bros. Coffee is strategically located along S. Melrose Dr., a major retail and commuter thoroughfare averaging 41,200 vehicles passing by daily. The building features a double drive-thru with stacking capacity for 22 vehicles. The asset is located directly next to a Wendy’s currently under construction and 128-key Hilton Garden Inn that has been approved for development by the city. The...

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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 : 3,951 79,701 275,302
2023 Total Population : 3,979 79,889 274,759
2023 Employed Civilian Pop : 2,112 39,064 136,442
2023 Total Businesses : 915 6,737 13,716
2023 Average Household Income : $ 183,959 $ 142,841 $ 150,944
2023 Total Consumer Spending : $ 211 M $ 3678 M $ 12379 M
2023 Median Age : 37 42 38
2023 Total Households : 1,365 30,112 96,416
2023 Pop Age 25+: Bachelor's Degree : 1,021 17,019 56,115
2023 Average Home Value : $ 1,096,709 $ 940,457 $ 959,354
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Park Center Dr Brookhaven Pass 2017 17,279 0.12 mi
Park Center Dr S Melrose Dr 2015 3,800 0.13 mi
Faraday Ave Imperial Loop 2011 14,192 0.31 mi
S Melrose Dr Oak Ridge Way 2017 41,215 0.35 mi
Melrose Dr Lionshead Ave 2015 30,400 0.45 mi
Park Center Dr Ave Chelsea 2017 5,735 0.46 mi
el Fuerte St Faraday Ave 2009 3,600 0.59 mi
Palomar Airport Rd Loker Ave W 2013 44,800 0.60 mi
Palomar Airport Rd Melrose Ave 2014 32,600 0.68 mi
el Fuerte St Loker Ave E 2013 4,000 0.68 mi

Listing Broker

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