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Dutch Bros Coffee, College Station, TX

Dutch Bros Coffee

TX, USA

Price $2,706,000
Cap Rate
NOI
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 862 SF
Lot Size 0.988 Acres (43,025 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 LEASE WITH SCHEDULED RENTAL INCREASES TO STRONG RETAIL TENANT
» New 15-year absolute NNN 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 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

HIGH-TRAFFIC LOCATION WITH STRONG AND AFFLUENT CUSTOMER BASE
» Excellent visibility and convenient access to 92,123 vehicles per day directly in front of the site on State Highway 6/Earl Rudder Freeway
» Immediate access to Rock Prairie Road, which experiences a traffic count of 54,259 vehicles per day near the property
» 126,043 residents live within a five-mile radius
» Affluent community with an average annual household income of $102,900 within a one-mile radius of the location
» Projected 11 percent average household income increase within five miles of the site in the next five years, poising Dutch Bros Coffee and College Station for significant concurrent growth

CENTRAL LOCATION NEAR LARGE RETAILERS, EMPLOYERS, HOSPITALS AND COMMUNITY HUBS
» Outparcel to Baylor Scott & White Medical Center (143-beds), greatly increasing foot traffic to the location
» Surrounded by a strong mix of local and national retailers, including CVS, Walgreens, Walmart Supercenter, McDonalds and many more
» Across the street from Kroger-anchored Rock Prairie Crossing Shopping Mall (118,700 SF retail space) and St. Joseph Health College Station Hospital (167-beds), promoting crossover traffic to the site
» Walking distance to Courtyard by Marriott Bryan College Station (125 rooms, 2,300-SF meeting space)
» 5.7 miles from Texas A&M University (71,109 students)

NEW 2021 CONSTRUCTION IN INCOME TAX FREE STATE
» 2021 construction featuring a dedicated double 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

SOLD

The property is centrally located with excellent visibility and convenient, access to 92,123 vehicles per day directly in front of the site on State Highway 6/Earl Rudder Freeway. The site is an outparcel to the Baylor Scott & White Medical Center, a five-story, 143-bed hospital located on a 98-acre campus near the intersection of Texas Highway 6 and Rock Prairie Road. The site serves a large demographic, with 126,043 residents living within a five-mile radius of the location. The property is centrally located in an affluent area, with an average household income of $102,900 within a one-mile radius and a projected 11 percent income growth by 2026.

The property benefits from immediate access to Rock Prairie Road, which experiences a high traffic count of 54,259 vehicles per day. The site is close to several large shopping centers and community hubs including the Kroger-anchored Rock Prairie Crossing Shopping Mall (118,700-SF retail space) and St. Joseph Health College Station Hospital (167- beds), promoting crossover traffic. The property is surrounded by major national tenants including CVS, Walgreens, Walmart Supercenter, McDonalds and many more. Texas A&M University is located 5.7 miles from the site with an enrollment of 71,109 students during Fall of 2020. The Texas A&M University System is the largest employer in the Brazos Valley region.

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