Dutch Bros.

2850 West Andrew Johnson Highway, Morristown, TN 37814

$2,355,000

Cap Rate 5.15%

Views: 101 Updated: 12.04.23 Posted: 08.03.23 Status: Inactive

Summary

Price $2,355,000	Built/Renov 2023	Tenant Dutch Bros.
Cap Rate 5.15%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 990	Lease Start 01-01-2023	#Units 716
Price/SF $2,378.79	Expiration 12-31-2042	Tenant Type Fast Food/QSR
NOI $121,257	R. Term 18.0	Ownership Fee Simple
Rent/SF $122.48	Increases 10.0%/5/yrs	Pop 5Mi 44,119
Lot/AC 0.61	Options 3/5yrs/10%	AHHI 5Mi $64,774

Lease Highlights

Brand-new 2023 construction with drive-thru
Dutch Bros. recently executed a brand new 20-year lease with 3 (5-year) options to renew
Lease features 10% rental increases every 5 years
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease by Boersma Bros. LLC

Location Description

This newly constructed Dutch Bros is strategically positioned on the hard corner, signalized intersection of Andrew Johnson Hwy and Economy Road which sees over 45,300 vehicles per day. Located along the main retail corridor of Morristown, the subject property is surrounded by national retailers including Lowe’s, Rural King, Dollar General, Walgreens, McDonald’s, Chick-fil-A, Taco Bell,...

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Key Features

New construction
Signalized intersection
Major thoroughfare
Near major nationals
Highway location
Income tax free state
Long 15+ yr lease
Absolute NNN
Corporate Guarantee
Publicly traded company

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Links

Dutch Bros. Wikipedia Dutch Bros. Coffee Wikipedia Morristown, Tennessee Zip Code 37814 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Dutch Bros Coffee
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 :	3,087	21,962	44,470
2023 Total Population :	3,059	22,160	44,419
2023 Employed Civilian Pop :	1,324	8,839	17,881
2023 Total Businesses :	272	1,101	1,713
2023 Average Household Income :	$ 67,358	$ 64,400	$ 61,190
2023 Total Consumer Spending :	$ 70 M	$ 485 M	$ 935 M
2023 Median Age :	43	40	41
2023 Total Households :	1,178	8,522	17,290
2023 Pop Age 25+: Bachelor's Degree :	335	2,466	3,935
2023 Average Home Value :	$ 272,201	$ 218,808	$ 189,342

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Economy Road	New Line Rd	2022	4,448	0.13 mi
Central Church Road	Holiday Dr	2022	3,337	0.39 mi
S. SUGAR HOLLOW RD.	Virgie Rd	2021	3,285	0.76 mi
South Sugar Hollow Road	Everett Rd	2022	3,057	0.76 mi
West Andrew Johnson Highway	Walker Dr	2022	36,341	0.76 mi
US 11E	Pearce Dr	2021	41,192	0.76 mi
North Economy Road	Masengill Ave	2022	3,262	0.87 mi
W Morris Blvd	Maden Dr	2003	18,290	0.95 mi
West Andrew Johnson Highway	Lumbardy Dr	2022	18,603	1.00 mi
W. ANDREW JOHNSON HWY.	E Economy Rd	2021	20,732	1.00 mi

Listing Broker

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
23613 Views
59 Sold

Eric Carlton

Colliers NNN Group

Contact

180 Listings
25395 Views
63 Sold

Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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