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Dutch Bros, Raytown, MO

Dutch Bros, Raytown, MO


Investment Summary

Price $1,850,000
Cap Rate
NOI
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 0.804 acres (35,015 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 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 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
» High-quality 2023 construction featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue

HIGH-VISIBILITY LOCATION ALONG A MAJOR STATE ROAD WITH ACCESS TO 56K VEHICLES PER DAY
» Located on East 75 Street and Blue Parkway/East State Route 350 near the Raytown Road signalized intersection offering great visibility and access to 56,182 combined vehicles per day
» Anchored by Walmart Supercenter and situated near Bank of America, IHOP, Panda Express, NAPA Auto Parts, and Ace Hardware, drawing significant crossover traffic to the site
» Walking distance from Coach Lamp Corner Apartments (118 units), Raytown Village Apartments (102 units), and Elliott Place Senior Living (96 units)
» Within a three-mile radius of six public schools with a student population of 3,251, providing nearby access to an ideal customer base
» Located in a high-traffic area, providing exposure to potential customers and the opportunity to build a loyal customer base

KANSAS CITY SUBURB WITH 118K NEARBY RESIDENTS
» Population of 118,030 within a five-mile radius
» Average annual household income of $79,401 within one mile (16% projected 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

SOLD

» The Dutch Bros Coffee is highly visible along East 75 Street and Blue Parkway/East State Route 350, close to the Raytown Road signalized intersection, providing access to a combined daily traffic of 56,182 vehicles
» The site is anchored by a Walmart Supercenter and is in proximity to Bank of America, IHOP, Panda Express, NAPA Auto Parts, and Ace Hardware, attracting significant crossover traffic to the location
» Coach Lamp Corner Apartments (118 units), Raytown Village Apartments (102 units), and Elliott Place Senior Living (96 units) are all within walking distance from the site
» The property is situated within a three-mile radius of six public schools, which have a total student population of 3,251, making it easily accessible to an ideal customer base.
» With a population of 118,030 within a five-mile radius, the location is backed by a large customer base, offering the opportunity to create loyal and repeat visitors
» The average annual household income within one mile of the site is $79,401 and is projected to increase 16% by 2027
» The site is a gateway to Kansas City, the largest city in Missouri, with a population of 508,090 in 2020
» The location is well-positioned in Jackson County, the second-most-populous county in Missouri

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