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Dutch Bros, Bryan, TX

Dutch Bros, Bryan, TX


Investment Summary

Price $2,109,000
Cap Rate 5.30%
NOI $111,768
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 2023
Building Size 955 SF
Lot Size 0.972 acres (42,340 SF)
Status Under Contract
Lead Brokers Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN CORPORATE LEASE TO RAPIDLY GROWING COFFEE QSR
» New 15-year absolute NNN corporate lease with 10% rental increases every five years
» Dutch Bros (NYSE: “BROS”) went public in 2021 – now valued at over $6.4 billion
» Dutch Bros Inc. is one of the fastest-growing brands in the food service and restaurant industry in the U.S. by location count with 847 locations across 15 states
» In Q2 2023, quarterly revenue increased 34% to $250M and 38 new system-wide shops opened

CENTRAL LOCATION NEAR BRYAN’S LARGEST EMPLOYERS, SCHOOLS, AND COMMUNITY HUBS
» High-visibility and easily accessible location along West Villa Maria Road, with direct access to 26,735 vehicles per day
» Four miles from Texas A&M University (71,000+ students, 17,000+ employees)
» The total Texas A&M impact on the Texas economy amounts to $3.7 billion in total income, equivalent to supporting 54,170 jobs
» Four miles from Blinn College (20,116 students) and Bryan High School (2,374 students)
» Three miles from St. Joseph Health Regional Hospital (310 beds, 1,000+ employees)

PRIME LOCATION IN DENSELY POPULATED AND GROWING TEXAS RETAIL CORRIDOR
» 144,681 residents live within five miles of the property, providing a large customer base for the site
» Excellent proximity to major national tenants such as Walmart Supercenter, Chick-fil-A, McDonald’s, Popeyes, Panda Express, Pizza Hut, Domino’s, Subway, and many more
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Dutch Bros and Bryan for steady concurrent growth
» Centrally located between Houston and Austin, allowing the site to capture significant commuter and long-haul traffic

NEW 2023 CONSTRUCTION IN TAX-FREE STATE
» New high-quality 2023 construction built to latest Dutch Bros prototype
» Site features a dual-lane drive-thru and walk-up window for added customer convenience
» Texas is an income tax-free state

Property Description

» This Dutch Bros has a high-visibility and easily accessible location along West Villa Maria Road, with direct access to 26,735 vehicles per day
» The property is beneficially located four miles from Texas A&M University (71,000+ students, 17,000+ employees)
» The total Texas A&M impact on the Texas economy amounts to $3.7 billion in total income, equivalent to supporting 54,170 jobs
» Ideally set in a large retail corridor, the property is surrounded by notable tenants such as Walmart Supercenter, Chick-fil-A, McDonald’s, Popeyes, Panda Express, Pizza Hut, Domino’s, Subway, and many more, creating significant crossover shopping
» The site greatly benefits from its proximity three miles from St. Joseph Health Regional Hospital (310 beds, 1,000+ employees) and four miles from Blinn College (20,116 students) and Bryan High School (2,374 students)
» 144,681 residents live within a five-mile radius of the site, providing an extremely large and reliable customer base
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Dutch Bros and Bryan for steady concurrent growth

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