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Views: 70 DOM: 193 Updated: 05.03.24 Posted: 12.02.23 Status: Active


Price $1,916,000
Built/Renov 2021
Tenant Dutch Bros. Coffee
Cap Rate 5.35%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 950
Lease Start 12-01-2021
#Units 831
Price/SF $2,016.84
Expiration 12-01-2036
Tenant Type Fast Food/QSR
NOI $102,500
R. Term 12.5
Ownership Fee Simple
Rent/SF $107.89
Increases 10.0%/3/yrs
Pop 5Mi 221,678
Lot/AC 0.49
Options 4/5yrs/10%
AHHI 5Mi $72,231

Lease Highlights

  • Dutch Bros. Coffee has 12+ years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 10% rental increase at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Dutch Bros. Coffee is strategically located along NW. 23rd St., a major retail and commuter thoroughfare averaging 25,000 vehicles passing by daily. The building is complete with a dual drive-thru, providing ease and convenience for customers. The asset is an outparcel to VASA Fitness, a popular fitness center that sees close to 700,000 gym-goers a year. The property benefits from being near...



  • 1 Mile
  • 3 Miles
  • 5 Miles


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...



  1 Miles 3 Miles 5 Miles
2028 Total Population : 16,972 94,634 225,488
2023 Total Population : 16,781 92,193 221,678
2023 Employed Civilian Pop : 9,188 49,251 106,971
2023 Total Businesses : 694 9,489 16,927
2023 Average Household Income : $ 72,786 $ 76,283 $ 72,231
2023 Total Consumer Spending : $ 469 M $ 2800 M $ 5894 M
2023 Median Age : 33 36 36
2023 Total Households : 7,371 41,951 93,065
2023 Pop Age 25+: Bachelor's Degree : 2,961 15,426 28,523
2023 Average Home Value : $ 219,501 $ 246,536 $ 253,254
*ESRI data is presented for informational purposes only


Collection Street Cross Street Year Traffic Vol Distance
N Pennsylvania Ave NW 23rd St 2016 17,869 0.11 mi
N Pennsylvania Ave NW 22nd St 2016 16,916 0.16 mi
NW 23rd St N Gatewood Ave 2019 19,057 0.17 mi
Northwest 23rd Street N Barnes Ave 2018 22,276 0.22 mi
NW 23rd St N Flynn Ave 2018 22,276 0.24 mi
North Pennsylvania Avenue NW 20th St 2019 15,900 0.29 mi
North Pennsylvania Avenue NW 28th St 2019 14,200 0.30 mi
Northwest 23rd Street 2019 19,300 0.37 mi
Northwest 23rd Street 2019 17,600 0.39 mi
N Pennsylvania Ave NW 18th St 2016 14,791 0.42 mi

Listing Broker

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