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Dutch Bros Coffee, Midwest City, OK

Dutch Bros Coffee

OK, USA

Price $1,680,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN Ground Lease, 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 862 SF
Lot Size 0.54 Acres (23,414 SF)
Status Sold
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 ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES TO STRONG RETAIL TENANT
» New 15-year absolute NNN ground lease with three (3) five (5) year options, creating a stable, long-term investment
» 10% rental increases every five years, providing a hedge against inflation
» Absolute NNN lease requires zero landlord management, ideal for an out-of-area investor
» Dutch Bros is the country’s largest privately held drive-thru coffee chain, with planned growth of adding more than 500 stores by 2023

HIGH-TRAFFIC LOCATION IN DENSLY POPULATED AND GROWING AREA
» Excellent visibility and convenient access to 21,330 vehicles per day at the signalized fourway intersection of Southeast 15th Street
» Beneficial proximity to highly trafficked Midwest City thoroughfares, including Interstate 40 (69,145 AADT)
» 132,426 residents live within a five-mile radius
» Projected ten percent average annual household income increase within five miles of the site in the next five years, poising Dutch Bros Coffee and Midwest City for significant
concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» 1.7 miles from Oklahoma County’s second largest employer, Tinker Air Force Base (24,000 employees)
» Surrounded by a strong mix of local and national retailers, including Home Depot, Hobby Lobby, Walmart Supercenter, Academy Sports + Outdoors, Game Stop, Chick-fil-A, Olive Garden, Regal Warren Moore Theater, Black Bear Diner, and many more
» Walking distance from six hotels with a combined 596 rooms, including the Sheraton Reed Conference Center (21,224-SF meeting space), greatly increasing foot traffic to the location
» One mile from Rose State College (9,648 students)

NEW 2021 CONSTRUCTION
» 2021 construction featuring a dedicated dual drive-thru, providing additional customer convenience and boosting sales revenue
» Features latest store designs and concepts
» New building, limiting near-term deferred maintenance or capital costs


Property Description

SOLD

The property is located along Southeast 15th Street, which experiences 21,330 vehicles per day at the location. The property benefits from convenient access to Interstate 40, which experiences a high traffic count of 69,145 vehicles per day near the property. The site serves an extremely large demographic, with 132,426 residents living within a five-mile radius of the location. The site is also located in a growing area, with a projected population increase of four percent and average annual household income increase of ten percent within a five-mile radius of the property in the next five years. Dutch Bros Coffee and Midwest City are poised for significant concurrent growth. The property is centrally located near large employers, retailers, and community hubs. The site is 1.7 miles from Oklahoma County’s second largest employer, Tinker Air Force Base (24,000 employees). The property is surrounded by a strong mix of local and national retailers, including Home Depot, Hobby Lobby, Walmart Supercenter, Academy Sports + Outdoors, Game Stop, Chick-fil-A, Olive Garden, Black Bear Diner, and many more. The site also resides within walking distance from six hotels with a combined 596 rooms, including the Sheraton Reed Conference Center featuring a 21,224-SF meeting space, greatly increasing foot traffic to the location. Additionally, the location features a beneficial proximity to Rose State College (9,648 students), significantly increasing traffic and visibility to the site.

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