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Dutch Bros Coffee, Katy, TX

Dutch Bros Coffee

Katy, Texas

Price $2,575,000
Cap Rate 4.00%
NOI $103,000
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 950 SF
Lot Size 0.85 Acres (37,026 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 ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES TO STRONG RETAIL TENANT
» New 15-year absolute 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 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 A DENSELY POPULATED, EXTREMELY AFFLUENT, AND GROWING TEXAS CORRIDOR
» High-traffic location along Morton Ranch Road (19,429 AADT), and just off West Grand Parkway with off-ramp access (40,000 AADT) significantly increasing traffic to the site
» Average annual household income of $104,676 within five miles of the location with a projected 11% growth in the next five years
» Population of 265,945 within a five-mile radius of the location, creating an extremely large customer base for the site
» Projected 13 percent population increase within a five-mile radius of the site in the next five years, poising Dutch Bros and Katy for concurrent growth
» Beneficial proximity to highly trafficked Texas thoroughfares, including Interstate 10 (116,752 AADT) and State Route 99 (131,185 AADT)
» Gateway to Downtown Houston, the fourth-most populous city in the U.S.

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND SCHOOLS
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Kroger, HomeGoods, AutoZone, Exxon, Chase Bank, Jiffy Lube, AutoZone, McDonald’s, Taco Bell, Jack in the Box, and many others
» Central location within the Katy Independent School District (71 schools, 85,700 students)
» 5.2 miles from Typhoon Texas Waterpark, a 25-acre waterpark featuring waterslides, a lazy river, and live entertainment
» Surrounded by high-density single-family housing developments and large townhouse complexes

NEW 2021 CONSTRUCTION
» 2021 construction featuring latest store designs and concepts and a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue



Property Description

This Dutch Bros is conveniently located along Morton Ranch Road in a high-traffic retail corridor. The property is supported by an extremely large and affluent customer base, with a population of 265,945 and an average household income of $104,676 within a five-mile radius of the site. The property is also located in an area poised for expansive growth, with a projected 13 percent population increase and 11 percent average annual household income increase within a five-mile radius of the site in the next five years.

Visibility to the property is increased by the site’s centralized location near large employers, retailers, and community hubs. The location is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Kroger, HomeGoods, AutoZone, Exxon, Chase Bank, Jiffy Lube, AutoZone, McDonald’s, Taco Bell, Jack in the Box, and many others. The property maintains a central location within the Katy Independent School District (71 schools, 85,700 students). The site also maintains a beneficial proximity, 5.2 miles from Typhoon Texas Waterpark, a 25-acre waterpark featuring waterslides, a lazy river, and live entertainment. High-density, affluent single-family housing developments and large townhouse complexes surround the location, establishing this Dutch Bros as a suburban hub store. The location also serves as a common gateway to Downtown Houston, the fourth-most populous city in the U.S.

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