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Dutch Bros Coffee, Princeton, TX

Dutch Bros Coffee

Princeton, TX

Price $2,201,000
Cap Rate 4.25%
NOI $93,537
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 (Under Construction)
Building Size 920 SF
Lot Size .719 Acres (31,320 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 is the country’s largest privately held drive-thru coffee chain with a goal of adding more than 500 new sites by 2023

LOCATED IN AN AFFLUENT AND GROWING TEXAS RETAIL CORRIDOR
» High-traffic location along U.S. Route 380/West Princeton Drive (31,264 AADT), significantly increasing traffic to the site
» Population of 27,113 within a five-mile radius of the site, providing a large customer base for the property
» Average annual household income of $93,526 within one mile of the site
» Projected 10 percent average annual household income increase within a one mile radius of the site in the next five years, poising Dutch Bros and Princeton for significant concurrent growth
» Texas has no income tax

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Shadow-anchored by the only Walmart Supercenter within 15 minutes of the site
» Surrounded by a strong mix of local and national retailers, including Starbucks, Dollar Tree, Panda Express, McDonald’s, 7-Eleven, Whataburger, and many more
» Beneficial proximity to highly attended Princeton schools, including Clark Middle School, Clark Junior High School, and Princeton High School (combined 2,512 students)
» Surrounded by high-density single-family housing developments and large townhouse complexes

NEW 2021 CONSTRUCTION
» 2021 construction featuring a dedicated dual-lane 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

The property is conveniently located along U.S. Route 380/West Princeton Drive (31,264 AADT), significantly increasing traffic to the site. The location is supported by a large customer base, with a population of 27,113 within a five-mile radius of the site. The property is also located in an affluent area as well, with an average annual household income of $93,526 within one mile of the site. With a projected 10 percent average annual household income increase within a one-mile radius of the site in the next five years, Dutch Bros and Princeton are poised for significant concurrent growth.

Visibility to the property is increased by the site’s centralized location near large employers, retailers, and community hubs. The property is shadow-anchored by the only Walmart Supercenter within a 15-minute drive of the location, greatly increasing traffic to the site. The location is surrounded by many major national retailers, including Dollar Tree, Panda Express, McDonald’s, Wendy’s, Starbucks, 7-Eleven, Whataburger, and many others. The site maintains a beneficial proximity to highly attended Princeton schools, including Clark Middle School, Clark Junior High School, and Princeton High School (combined 2,512 students). The property is also surrounded by high-density single family housing developments and large townhouse complexes, establishing a regular customer base for the site.

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