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Dutch Bros, Desoto, TX

Dutch Bros, Desoto, TX


Investment Summary

Price $2,223,000
Cap Rate
NOI
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 1.183 acres (51,531 SF)
Status Closed
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
» 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 768 locations across 15 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
» Dutch Bros Q3 2022 company-operated shop revenues increased 59.7% to $173.5 million as compared to $108.7 million in the same period of 2021

TROPHY SITE SERVICING A BURGEONING TEXAS REGION
» High-visibility and easily accessible location along West Belt Line Road (24,000 AADT)
» Site features interparcel access from North Westmoreland Road near a signalized four-way intersection
» Beneficial proximity to large universities and schools, including Dallas College – Cedar Valley Campus (6,222 students), DeSoto High School (3,102 students), and DeSoto East Middle School (501 students)
» Excellent proximity to major national tenants such as Walmart Supercenter, Sam’s Club, Target, The Home Depot, ALDI, Walgreens, and many more

IDEAL LOCATION IN THE DALLAS-FORT WORTH METROPLEX
» 189,533 residents live within five miles of the property, providing the site with an extremely large customer base
» High average annual household income of $101,251 within a one-mile radius
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Dutch Bros and DeSoto for steady concurrent growth
» 17 miles from Downtown Dallas, allowing the site to capture an immense amount of commuter traffic
» Dallas-Fort Worth is one of the top-5 fastest-growing economies in the U.S.

NEW 2023 CONSTRUCTION IN A 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

SOLD

» This Dutch Bros has a high-visibility and easily accessible location along West Belt Line Road (24,000 AADT)
» The site features interparcel access from North Westmoreland Road near a signalized four-way intersection
» Ideally set in a large retail corridor, the property is surrounded by notable tenants such as Walmart Supercenter, Sam’s Club, Target, The Home Depot, ALDI, Walgreens, and many more, creating significant crossover shopping
» The site greatly benefits from its proximity to large universities and schools, including Dallas College – Cedar Valley Campus (6,222 students), DeSoto High School (3,102 students), and DeSoto East Middle School (501 students)
» 189,533 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 DeSoto for steady concurrent growth

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