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Dutch Bros, Buda, TX

Dutch Bros, Buda, TX


Investment Summary

Price $2,233,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2023
Building Size 950 SF
Lot Size +/- 1.4103 acres (61,432 SF)
Status Closed
Lead Brokers Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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

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
» No landlord management, an ideal opportunity for an out-of-area investor
» 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 United States by location count with 671 locations across 14 states
» In Q3 2022, total revenues grew 53.0% to $198.6 million as compared to $129.8 million in the same period of 2021

PRIME LOCATION NEAR STRONG TRAFFIC DRIVERS WITH ACCESS TO OVER 180K
» Excellent visibility and access to 16,277 vehicles per day along Main Street
» Situated near a newly leased Amazon Fulfillment Center (305,000 SF facility) and Buda Midway (390,000 SF four rear loading warehouse buildings currently under construction)
» High traffic location near Interstate 35, which experiences 163,852 vehicles per day
» Nine hotels within a two-mile radius with 664 guestrooms, providing a nearby customer base for the site
» Surrounded by many single and multi-family developments and just minutes from Buda Elementary (500 students), and Baylor Scott & White Medical Center – Buda (15 beds) WELL-

POSITIONED WITHIN GREATER AUSTIN WITH A LARGE POPULATION OF OVER 2.35 MILLION
» Population of 93,880 within a five-mile radius (significant growth of 103% since 2010)
» $118,100 average annual household income within five miles (14% projected increase by 2027)
» Gateway to Austin, the state capital and fourth-most populous city in Texas (964,177 people)
» Strategic location within Greater Austin (over 2.35 million people)
» Austin ranked first among the 50 largest U.S. metros based on net migration as a percent of the total population in 2020, the largest rate among the top 50 U.S. metros
» The region benefits from over 50 colleges and universities and 400,000 enrolled students within a 100-mile radius

NEW 2023 CONSTRUCTION IN A TAX-FREE STATE
» High-quality 2023 construction featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue
» Texas has no state income tax

Property Description

SOLD

» Dutch Bros is in a prime location with excellent visibility and access to 16,277 vehicles per day along Main Street and maintains beneficial proximity to the highly trafficked Interstate 35 (163,852 vehicles per day)
» The site is situated near a newly leased Amazon Fulfillment Center (305,000 SF facility) and Buda Midway (390,000 SF four rear loading warehouse buildings currently under construction)
» The location is near nine hotels within a two-mile radius with 664 guestrooms, providing a nearby customer base for the site
» The property is surrounded by many single and multi-family developments and is also minutes from Buda Elementary (500 students), and Baylor Scott & White Medical Center – Buda (15 beds)
» The site is supported by a population of 93,880 within five miles and has experienced a significant growth rate of 103% since 2010
» The average annual household income is $118,100 within five miles and is projected to increase by 14% in the next five years
» The location serves as a gateway to Austin, the state capital and fourth-most populous city in Texas (population 964,177)
» The site is in a strategic location within Greater Austin (over 2.35 million people), which ranked first among the 50 largest U.S. metros based on net migration as a percent of the total population in 2020 – the largest rate among the top 50 U.S. metros)

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