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Dutch Bros, McKinney, TX

Dutch Bros

McKinney, TX

Price $2,054,000
Cap Rate 4.25%
NOI $87,267
Lease Term 15 Years
Lease Type Absolute NNN 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 920 SF
Lot Size 0.848 acres (36,939 SF)
Status Available
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES TO STRONG RETAIL TENANT
» New 15-year NNN lease with four (4) 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 LARGE, GROWING, AND EXTREMELY AFFLUENT TEXAS SUBMARKET
» Excellent visibility and convenient access to 83,000 vehicles per day directly in front of the site on North Custer Road
» Beneficial proximity to highly trafficked McKinney thoroughfares, including U.S. Route 380/ University Drive and Virginia Parkway (53,021 AADT)
» 194,545 residents live within a five-mile radius in one of the fastest growing cities in America
» Average annual household income of $146,886 within a three-mile radius of the property, providing an extremely affluent customer base for the site
» Projected 11 percent average annual household income increase within three miles of the site in the next five years, poising Dutch Bros Coffee and McKinney for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to Walmart Supercenter-anchored shopping center, funneling crossover shopping directly to the location
» Surrounded by a strong mix of local and national retailers, including McDonald’s, Whataburger, Wells Fargo, Burger King, Starbucks, Popeye’s Louisiana Kitchen, and many more
» Within four miles of McKinney’s most popular golf courses, including Stonebridge Ranch Country Club and WestRidge Golf Course
» Beneficial proximity to highly attended McKinney schools, including Rock Hill High School, Jim and Betty Hughes Elementary School, and Wilbeth Elementary School (combined 3,303 students)
» Common gateway to Dallas, the ninth-most populous city in the U.S. (population 1,343,573)

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



Property Description

The property is located on North Custer Road, with excellent visibility and convenient access to 83,000 vehicles per day directly in front of the location. The site serves an extremely large demographic, with 194,545 residents living within a five-mile radius of the location. The property benefits from convenient access to U.S. Route 380/University Drive and Virginia Parkway, which experience a combined traffic count of 53,021 vehicles per day near the property. The site is located in a highly populated (194,545 people within five miles) and affluent area, with an average annual household income of $146,886 within a three-mile radius of the property. With a projected 11 percent average annual household income increase within three miles of the site in the next five years, Dutch Bros Coffee and McKinney are poised for significant concurrent growth.

The property is centrally located near large employers, retailers, and community hubs. The site is outparcel to a Walmart Supercenter-anchored shopping center, funneling crossover shopping directly to the location. The property is surrounded by a strong mix of local and national retailers, including McDonald’s, Whataburger, Wells Fargo, Burger King, Starbucks, Popeye’s Louisiana Kitchen, and many more. The site also resides within four miles of McKinney’s most popular golf courses, including Stonebridge Ranch Country Club and WestRidge Golf Course. The location features a beneficial proximity to highly attended McKinney schools, including Rock Hill High School, Jim and Betty Hughes Elementary School, and Wilbeth Elementary School (combined 3,303 students). Visibility is greatly increased by the property serving as a common gateway to Dallas, the ninth-most populous city in the U.S. (population 1,343,573).

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