Dutch Bros. (GL)

1109 West Expressway 83, McAllen, TX 78503

$1,960,000

Cap Rate 5.36%

$2,100,000

Cap Rate 5.00%

Updated: 01.17.24 Posted: 09.29.23 Status: Sold

Summary

Price $1,960,000 $2,100,000	Built/Renov 2024	Tenant Dutch Bros. (GL)
Cap Rate 5.36% 5.00%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 950	Lease Start 12-01-2023	#Units 716
Price/SF $2,063.16 $2,210.53	Expiration 11-30-2038	Tenant Type Fast Food/QSR
NOI $105,000	R. Term 13.6	Ownership Ground Lease
Rent/SF $110.53	Increases 10.0%/5/yrs	Pop 5Mi 460,000
Lot/AC 0.83	Options 3/5yrs/10%	AHHI 5Mi $67,000

Lease Highlights

Newly constructed Dutch Bros. with double drive-thru (Grand opening slated January 2024)
Tenant will sign a brand-new 15-year lease with 3 (5-year) options to extend
Lease features 10% rental increases throughout every 5 years
Absolute NNN ground lease | Zero landlord responsibilities
Corporate guaranteed lease
Income tax free state

Location Description

Dutch Bros is strategically situated at the intersection of W. Expy. 83 and S. 10th St., with a combined traffic count of 39,000 vehicles passing by daily. The subject property is positioned in front of Floor & Décor and is adjacent to the 1.3M square foot La Plaza Mall, which features anchor stores such as Macy's, Dillard's, Zara, H&M, and JC Penney's. With its prime location, Dutch...

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Key Features

New construction
Hard corner intersection
Freeway close
Strong demographics
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Corporate Guarantee
Publicly traded company

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Links

Dutch Bros. Coffee Wikipedia Dutch Bros. Coffee Wikipedia McAllen, Texas Zip Code 78503 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Dutch Bros.
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 :	6,983	82,391	220,911
2023 Total Population :	7,043	80,906	217,023
2023 Employed Civilian Pop :	2,997	32,759	88,033
2023 Total Businesses :	1,294	4,618	9,626
2023 Average Household Income :	$ 61,596	$ 62,216	$ 74,647
2023 Total Consumer Spending :	$ 148 M	$ 1570 M	$ 4820 M
2023 Median Age :	40	35	34
2023 Total Households :	2,720	28,474	73,449
2023 Pop Age 25+: Bachelor's Degree :	966	10,369	30,078
2023 Average Home Value :	$ 238,700	$ 169,599	$ 182,178

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	S 23rd St	2021	92,360	0.10 mi
TX 121	S Main St	2020	118,761	0.10 mi
	S Main Opas	2019	139,794	0.11 mi
West Expressway 83	S 8th St	2021	15,928	0.11 mi
S 10th St	W Expy 83	2014	25,298	0.15 mi
S 10th St	W Expy 83	2014	24,866	0.18 mi
S Main St	S Main Opas	2014	5,798	0.19 mi
Savannah Ave	S 10th St	2014	7,270	0.24 mi
S 10th St	Toronto Ave	2014	22,233	0.26 mi
Toronto Ave	S 10th St	2014	3,080	0.27 mi

Listing Broker

Jeff Conover

Faris Lee Investments

Contact

33 Listings
5928 Views
19 Sold

Greg Lukosky

Faris Lee Investments

Contact

16 Listings
3614 Views
5 Sold

Jeff Conover

Jeff Conover was appointed Managing Principal at Faris Lee Investments in 2021 and has 34 years of transactional brokerage experience within the commercial real estate industry across the U.S. As Managing Principal of Faris Lee Investments, a national leading retail advisory and investment sales firm, Mr. Conover is a top producer year-over-year with proven performance specializing in the disposition of single tenant NNN leased investments, multi-tenant shopping centers, national portfolios &am

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Greg Lukosky

Experienced, enthusiastic, and accomplished real estate executive with a distinct advantage of management positions in both Corporate Real Estate and Shopping Center Development. Seeking position with a company that will benefit from a creative and analytical background. Experienced in all aspects and phases of both Asset Management and Development from both the developer/owner and tenant perspective as a result of combined 20+ years within private retail development and corporate real estate.

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Scott DeYoung

Faris Lee Investments

Contact

34 Listings
5958 Views
20 Sold

Scott DeYoung

As a Senior Managing Director at Faris Lee Investments, Mr. DeYoung was the co-top producer at the Company in 2021. Mr. DeYoung has more than a decade of brokerage experience and currently holds real estate broker licenses in California, Florida, Montana, and Hawaii. Mr. DeYoung is a fifth-generation broker and developer in Southern California, as well as an active real estate investor. In 2021, Mr. DeYoung acquired and disposed of over $26M in commercial real estate as a General Partner. His e

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