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Dutch Bros, Grandview, MO

Dutch Bros, Grandview, MO


Investment Summary

Price $2,070,000
Cap Rate 5.50%
NOI $113,845
Lease Term 20 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 950 SF
Lot Size 0.93 acres (40,511 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 20-YEAR ABSOLUTE NNN CORPORATE LEASE TO RAPIDLY GROWING COFFEE QSR
» New 20-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 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
» High-quality 2023 construction featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue

BUSY SHOPPING CENTER NEAR INTERSTATE 49
» High-visibility location on Blue Ridge Boulevard offering excellent visibility and access to 13,849 vehicles per day
» Part of the Truman’s Marketplace Shopping Center (29 stores), south Kansas City’s premier shopping destination drawing significant traffic to the area
» Convenient location near major transportation corridors with access to Interstate 49 (92,871 AADT) and Interstate 470 (112,704 AADT)
» Within two miles of four major hotels with 357 guestrooms providing nearby access to an ideal customer base
» Busy area across from CenterPoint Warehousing (350,000 SF facility) and Silgan Manufacturing Plant, providing exposure to a nearby workforce

ACCESS TO 111K NEARBY RESIDENTS IN A GROWING KANSAS CITY SUBURB
» 111,396 residents within a five-mile radius (steady growth of 5% since 2010)
» Average annual household income of $86,184 within five miles (projected 17%increase by 2027)
» Gateway to Kansas City, the largest city in Missouri by population and area with a 2020 population of 508,090
» Well-positioned in Jackson County, the second-most-populous County in Missouri

Property Description

» This property is located on Blue Ridge Boulevard, offering excellent visibility and access to 13,849 vehicles per day
» Dutch Bros Coffee is part of the Truman’s Marketplace Shopping Center, which features 29 stores and is south Kansas City’s premier shopping destination, drawing significant traffic to the area
» The property is also conveniently located near major transportation corridors with access to Interstate 49 (92,871 AADT) and Interstate 470 (112,704 AADT)
» Within two miles of the property there are four major hotels with 357 guestrooms providing nearby access to an ideal customer base. The area is also busy, with CenterPoint Warehousing (350,000 SF facility) and Silgan Manufacturing Plant across the street, providing exposure to a nearby workforce
» The property is located within a five-mile radius of 111,396 residents
» The average annual household income within a five-mile radius is $86,184, and this is projected to increase by 17% by 2027
» The property is well-positioned as a gateway to Kansas City, the largest city in Missouri by population and area, with a 2020 population of 508,090. Additionally, it is located in Jackson County, the second-most-populous County in Missouri

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