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Dutch Bros Coffee Ground Lease, College Station, TX

Dutch Bros Coffee Ground Lease

College Station, Texas

Price $1,689,000
Cap Rate 3.85%
NOI $65,000
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 950 SF
Lot Size 0.686 Acres (29,870 SF)
Status Available
Lead Broker Information 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

Jack Hinson
Brokerage
704.572.9921
jack.hinson@cushwake.com
CA RE License #02059267

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GROUND 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

LOCATED IN A HIGH-TRAFFIC LOCATION IN A GROWING TEXAS RETAIL CORRIDOR
» Excellent visibility and convenient access to 55,742 vehicles per day on Texas Avenue
» Convenient access to Earl Rudder Freeway, which experiences a traffic count of 100,391 vehicles per day near the property
» Average annual household income of $71,106 within a five-mile radius of the location with a projected 12 percent increase in the next five years
» 166,282 residents live within a five-mile radius of the site with a projected nine percent increase within the next five years, poising Dutch Bros Coffee and College Station for significant concurrent growth
» Texas has no state income tax, estate tax, or inheritance tax

CENTRAL LOCATION NEAR TEXAS A&M UNIVERSITY
» Less than one mile from Texas A&M University (71,109 students)
» Outparcel to Harbor Freight anchored Parkway Square Shopping Mall, greatly increasing foot traffic to the location
» Located near several shopping malls featuring a strong mix of local and national retailers including, H-E-B, Target, HomeGoods, Hobby Lobby, Big Lots, Petco, Bed Bath & Beyond, Kohls, Walgreens, and many more
» Walking distance to Arbor Square Apartments (176 units)
» Beneficial proximity to Motel 6 (92 rooms, 1,200-SF meeting space), Manor Inn (116 rooms, 1,024-SF meeting space) and Days Inn by Wyndham – Bryan College Station (98 rooms), promoting crossover traffic to the site

NEW 2021 CONSTRUCTION
» 2021 construction featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue
» Drive-Thru designed to accommodate 25 cars



Property Description

The property is centrally located with excellent visibility and convenient, access to 55,742 vehicles per day directly in front of the site on Texas Avenue. The site is an outparcel to the Parkway Square Shopping Mall featuring major tenant Harbor Freight. The property is centrally located in a growing area with an average household income of $71,106 within a five-mile radius of the location with a projected 12 percent income growth within the next five years. The site serves a large demographic, with 166,282 residents living within a five-mile radius of the location. The population is projected to increase nine percent by 2026, poising Dutch Bros Coffee and College Station for significant concurrent growth.

The property benefits from access to Earl Rudder Freeway, which experiences a traffic count of 100,391 vehicles per day. Located within a one-mile radius of three hotels, Motel 6, Manor Inn and Days Inn by Wyndham, Bryan College Station (306 combined rooms). The site is close to several large shopping centers and community hubs featuring a strong mix of local and national retailers, including H-E-B, Target, HomeGoods, Hobby Lobby, Big Lots, Petco, Bed Bath & Beyond, Kohls, Walgreens, and many more. The site is within walking distance to Arbor Square Apartments (176 units, two stories), promoting crossover traffic. Texas A&M University is located less than a mile from the property, 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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