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Views: 131 DOM: 43 Updated: 12.21.23 Posted: 10.03.23 Status: Sold 11.15.23

Summary

Price $2,304,636 $2,395,000
Built/Renov 2023
Tenant Dutch Bros.
Cap Rate 5.35% 5.15%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 950
Lease Start 10-31-2023
#Units 716
Price/SF $2,425.93 $2,521.05
Expiration 10-31-2043
Tenant Type Fast Food/QSR
NOI $123,298
R. Term 18.10
Ownership Fee Simple
Rent/SF $129.79
Increases 10.0%/5/yrs
Pop 5Mi 36,114
Lot/AC 1.43
Options 3/5yrs/10%
AHHI 5Mi $81,827

Lease Highlights

  • Newly constructed Dutch Bros with drive-thru
  • Tenant will sign a brand-new 20-year lease that will commence late October with 3 (5-year) options to extend
  • Lease features 10% rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Dutch Bros is strategically situated at the northeast corner of Illinois Avenue/Highway 62 and Tulsa Road, with an average daily traffic count of 27,300 vehicles. The subject property benefits from being a prime, hard-corner signalized intersection, making it highly visible and easily accessible. Adjacent to the site is a thriving retail corridor in the trade area. The surrounding area is home...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dutch Bros.
  • Guarantor:Corp Traded
  • Company:Dutch Bros.
  • # 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 : 4,788 22,606 37,871
2023 Total Population : 4,575 22,213 37,503
2023 Employed Civilian Pop : 2,037 9,488 15,980
2023 Total Businesses : 374 1,211 1,509
2023 Average Household Income : $ 62,915 $ 74,228 $ 90,164
2023 Total Consumer Spending : $ 122 M $ 630 M $ 1251 M
2023 Median Age : 38 43 45
2023 Total Households : 2,204 9,707 16,018
2023 Pop Age 25+: Bachelor's Degree : 598 2,816 5,223
2023 Average Home Value : $ 227,819 $ 206,397 $ 240,037
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
OAK RIDGE Badger Ave 2019 29,671 0.13 mi
TN 62 Badger Ave 2021 29,823 0.20 mi
ROBERTSVILLE RD. Raleigh Rd 2021 3,755 0.35 mi
Tuskegee Dr S Illinois Ave 2004 1,770 0.36 mi
OAK RIDGE Raleigh Rd 2019 4,224 0.36 mi
TUSKEGEE DR. Wilburforce Ave 2021 1,514 0.38 mi
South Tulane Avenue Oak Ridge University 2018 6,888 0.38 mi
S. TULANE AVE. Oak Ridge University 2021 7,661 0.39 mi
Wilburforce Ave 2021 3,663 0.47 mi
E Tulsa Rd Wilburforce Ave 2004 3,420 0.50 mi

Listing Broker

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