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Updated: 02.27.24 Posted: 09.20.23 Status: Sold

Summary

Price $1,975,000 $2,051,000
Built/Renov 2023
Tenant Dutch Bros. (GL)
Cap Rate 5.35% 5.15%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 1,483
Lease Start 01-15-2023
#Units 716
Price/SF $1,331.76 $1,383.01
Expiration 01-31-2043
Tenant Type Fast Food/QSR
NOI $105,597
R. Term 17.9
Ownership Ground Lease
Rent/SF $71.20
Increases 10.0%/5/yrs
Pop 5Mi 186,034
Lot/AC 1.28
Options 3/5yrs/10%
AHHI 5Mi $81,789

Lease Highlights

  • 2023 construction which features high quality materials, distinct design elements, and high-level finishes
  • Dutch Bros. has 19+ years remaining on their ground lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years during the initial term and at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

This newly constructed Dutch Bros is strategically fronting E New Circle Road (State Hwy. 4) averaging 53,300 vehicles passing by daily. The asset is equipped with a drive-thru, providing ease and convenience for customers. It is positioned within a dense retail corridor, surrounded by several national/credit tenants including Kroger, Walmart Supercenter, Planet Fitness, ALDI, and more....

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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. The vast majority of its...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,315 89,573 189,233
2023 Total Population : 11,183 88,249 186,034
2023 Employed Civilian Pop : 5,353 41,236 94,745
2023 Total Businesses : 575 5,582 10,590
2023 Average Household Income : $ 62,517 $ 71,090 $ 81,789
2023 Total Consumer Spending : $ 251 M $ 2265 M $ 5652 M
2023 Median Age : 43 33 35
2023 Total Households : 4,585 36,365 79,178
2023 Pop Age 25+: Bachelor's Degree : 1,105 11,285 31,686
2023 Average Home Value : $ 219,066 $ 284,728 $ 305,989
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Bryan Ave Emerson Dr 2008 8,738 0.11 mi
Bryan Station Rd Northwood Dr 2007 17,598 0.19 mi
New Circle Road N Limestone St 2018 38,129 0.23 mi
East New Circle Road N Limestone St 2021 38,814 0.23 mi
E New Circle Rd Bryan Station Rd 2001 35,393 0.26 mi
Bryan Avenue Locust Ave 2018 175 0.33 mi
Bryan Ave Carlisle Ave 2011 7,940 0.37 mi
W New Circle Rd N Limestone St 2007 43,742 0.40 mi
N Limestone St Locust Ave 2007 8,919 0.46 mi
Meadow Lane Shaftsbury Rd 2018 2,543 0.50 mi

Listing Broker

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