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Dutch Bros Coffee, San Antonio , TX

Dutch Bros Coffee

San Antonio, Texas

Price $2,916,000
Cap Rate 4.15%
NOI $121,000
Lease Term 15 Years
Lease Type Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2021
Building Size 860 SF
Lot Size 0.689 Acres (30,013 SF)
Status Available
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW 15-YEAR CORPORATE GUARANTEED ABSOLUTE NNN LEASE TO STRONG RETAIL TENANT
» New 15-year absolute NNN lease with corporate guaranty and 10% rental increases every five years, providing a hedge against inflation
» Three (3) five (5) year options, creating a stable, long-term investment
» Dutch Bros recently went public valued at over $3.8 billion (NYSE: “BROS”)
» Dutch Bros sales are up 51% through the first six (6) months of 2021 after a record performance in 2020

LOCATED IN DENSELY POPULATED TEXAS CORRIDOR
» High-traffic location along Walzem Road (42,222 AADT)
» Beneficial proximity to Interstate 35 (211,109 AADT) and Interstate 410/Connally Loop (164,071 AADT)
» Outparcel to a Harbor Freight Tools-anchored shopping center, increasing traffic to the site
» Near a strong mix of local and national retailers, including Walmart Supercenter, H-E-B, Walgreens, CVS Pharmacy, Pep Boys, McDonald’s, and many others
» Population of 279,988 within a five-mile radius of the site, providing a large customer base for the property (12%+ growth since 2010)

CENTRAL LOCATION NEAR LARGE EMPLOYERS, SCHOOLS, AND COMMUNITY HUBS
» Surrounded by high-density single family housing developments and large apartment complexes
» Walking distance to Theodore Roosevelt High School (2,691 students) and Edward H. White Middle School (1,116 students)
» Less than a mile from Rackspace Technology headquarters (5,000+ employees)
» 15 minutes from Judson Early College Academy (477 students) and Northeast Lake College (4,758 students)
» Seven miles from the largest employer in the area, Joint Base San Antonio (JBSA) with 73,707 total employees

NEW 2021 CONSTRUCTION IN TAX FREE STATE
» 2021 construction featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue
» Texas has no state income tax, estate tax, or inheritance tax



Property Description

This Dutch Bros is conveniently located along Walzem Road (42,222 AADT). The site maintains beneficial proximity to Interstate 35 (211,109 AADT) and Interstate 410/Connally Loop (164,071 AADT), significantly increasing traffic in the area. The property is an outparcel to a Harbor Freight Tools-anchored shopping center and surrounded by national retailers, including Walmart Supercenter, H-E-B, Walgreens, CVS, Pep Boys, McDonald’s, and many others. The property is supported by an large customer base, with a population of 279,988 within a five-mile radius of the site, a 12 percent increase since 2010. Additionally, the property is near many high-density single family housing developments and large apartment complexes, a strong traffic driver for the property.

Visibility to the property is increased by the site’s central location near large employers, retailers, and community hubs. The site is within walking distance to Theodore Roosevelt High School (2,691 students) and Edward H. White Middle School (1,116 students), providing a regular source of traffic in the area. The property is just a short 15 minutes from Judson Early College Academy (477 students) and Northeast Lake College (4,758 students). Rackspace Technology corporate headquarters is located less than a mile from the site, with over 5,000 employees. The site is minutes from the largest employer in the region, Joint Base San Antonio (JBSA), the nation’s largest joint base, which consists of JBSA-Fort Sam Houston, JBSA-Lackland, and JBSA-Randolph (73,707 total employees).

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