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Dutch Bros, Rowlett, TX

Dutch Bros, Rowlett, TX


Investment Summary

Price $2,205,000
Cap Rate 5.00%
NOI $119,035
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 950 SF
Lot Size 0.905 acres (32,250 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 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 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

HIGH-VISIBILITY LOCATION AT ONE OF THE BEST RETAIL CORNERS IN ROWLETT WITH ACCESS TO 63K DAILY VEHICLES
» High traffic location on Lakeview Parkway/State Route 66 near the Dalrock Road signalized intersection offering excellent visibility and access to 63,295 combined vehicles per day
» Walmart Neighborhood Market outparcel and situated across from Lake Pointe Market with major tenants Tom Thumb, Petco, and Walgreens drawing significant traffic to the area
» Walking distance from Baylor Scott & White Medical Center – Lake Pointe (148 beds) and Terra Lago Apartments (451 units)
» Four public schools within a two-mile radius with a student population of 2,785, providing access to an ideal customer base
» Rowlett is served by Garland Independent School District and Rockwall Independent School District with a sizable student population of 70,821
» Minutes from Waterview Golf Club, a championship golf course with wedding venue offerings

EXCELLENT LOCATION WITHIN TWO TEXAS COUNTIES WITH NEARBY ACCESS TO 133K RESIDENTS
» Population of 133,460 within a five-mile radius (23% growth since 2010)
» Average annual household income of $139,539 within three miles (projected to increase 12% by 2027)
» Gateway to Dallas, the third-largest city in Texas (1.3 million residents)
» Well-positioned in two major hub counties, Dallas County (the second-most populous county in Texas) and Rockwall County (the richest county in Texas)
» Beneficial proximity to Dallas Love Field Airport (15.97 million annual passengers) and Dallas/Fort Worth International Airport (73+ million annual passengers)

NEW HIGH-QUALITY 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

» This Dutch Bros is located on Highway 66/ Lakeview Parkway near the Dalrock Road signalized intersection offering excellent visibility and access to 63,295 combined vehicles per day
» The property is a Walmart Neighborhood Market outparcel and situated across from Lake Pointe Market with major tenants Tom Thumb, Petco, and Walgreens drawing significant crossover traffic to the area
» The site is within walking distance from Baylor Scott & White Medical Center – Lake Pointe (148 beds), and Terra Lago Apartments (451 units) and just minutes from Waterview Golf Club a championship golf course with wedding venue offerings
» The city of Rowlett is served by Garland Independent School District and Rockwall Independent School District with a sizable student population of 70,821
» The site is supported by a population of 133,460 within a five-mile radius, a significant growth of 23% since 2010
» The surrounding area is affluent with an average annual household income of $139,539 within three miles and projected to increase by 12% over the next five years

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