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Dutch Bros Coffee, Rio Grande City, TX

Dutch Bros Coffee, Rio Grande City, TX


Investment Summary

Price $1,785,000
Cap Rate 5.25%
NOI $93,705
Lease Term 15 years
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, repairs, and maintenance
Rental Increases 10% rental increases every five (5) years
Year Built 2024
Building Size +/- 950 SF
Lot Size 0.80 acres (34,848 SF)
Status Available
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 LEASE WITH CORPORATE GUARANTY
» New 15-year corporate absolute NNN lease with 10% rental increases every five years
» Three (3) five (5) year option periods and one four (4) year and eleven (11) month option period, providing a passive long-term income generator
» Dutch Bros (NYSE: “BROS”) went public in 2021 – valued at $4.88B as of February 2024
» 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 879 locations across 17 states
» In 2023, Dutch Bros opened 159 new shops across 13 states and reported a 30.7% growth of total revenues to $965.8M (compared to $739M in 2022)

PRIME LOCATION POSITIONED IN MAJOR RETAIL CORRIDOR
» Dutch Bros is located on U.S. Highway 83, a major retail thoroughfare in Rio Grande City, with access to nearly 55,000 AADT directly in front of the site
» The site is surrounded by major national retailers such as Walmart, AMC, Starbucks, Chick-fil-A, Whataburger, Jack in the Box, KFC, McDonald’s, and many others
» Ideal location with proximity to multiple shopping centers anchored by major retail tenants such as Walmart, Tractor Supply Co, Marshall’s, H-E-B and several others

DENSELY POPULATED AND GROWING TEXAS CITY
» 25,951 residents live within 5-miles of the site, creating a stable customer base for the site
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Dutch Bros and Rio Grande City for steady concurrent growth
» Close proximity to dense residential developments in both Rio Grand City and Las Lomas, positioning Dutch Bros to capture customers from both markets
» Less than two miles from the Mexican border (with direct access to the U.S. via the Rio Grande City–Camargo International Bridge) and less than six miles from the Camargo municipality in the Mexican state of Tamaulipas

NEW 2024 CONSTRUCTION IN A TAX-FREE STATE
» New high-quality 2024 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

» Excellent Location: This Dutch Bros is located on U.S. Highway 83, a major retail thoroughfare in Rio Grande City, with access to more than 54,000 AADT directly in front
of the site
» Surrounded By Major Traffic Drivers: The site is surrounded by major national retailers such as Walmart, AMC, Starbucks, Chick-fil-A, Whataburger, Jack in the Box,
KFC, Chili’s, Denny’s, McDonald’s and many others
» Beneficial Proximity to Retail Centers: Ideal location with proximity to multiple shopping centers anchored by major retail tenants such as Walmart, Tractor Supply Co, Marshall’s, H-E-B Plus!, and several others
» Stable Customer Base: 25,951 residents live within 5-miles of the site, creating a stable customer base for the site
» Growing Demographics: Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Dutch Bros and Rio Grande City for steady concurrent growth
» Beneficial Proximity to Residential Developments: Close proximity to dense residential developments in both Rio Grand City and Las Lomas, positioning Dutch Bros to capture customers from both markets
» Central Location Near U.S.-Mexico Border: Less than two miles from the Mexican border (with direct access to the U.S. via the Rio Grande City–Camargo International Bridge) and less than six miles from the Camargo municipality in the Mexican state of Tamaulipas

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