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Dutch Bros, Shawnee, OK (Oklahoma City MSA)

Dutch Bros, Shawnee, OK (Oklahoma City MSA)


Investment Summary

Price $1,788,000
Cap Rate 5.65%
NOI $101,000
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 0.44 acres (19,166 SF)
Status Available
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

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 a passive investor
» 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 United States 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)
» New high-quality 2023 construction built to Dutch Bros’ latest prototype and featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue

KOHL’S OUTPARCEL, NEXT TO WALMART JUST OFF INTERSTATE-40
» High-visibility and easily accessible location on Shawnee Mall Drive, with direct visibility from Interstate 40
» Located in the Shawnee Mall, a 455,420 square foot regional shopping mall anchored by Dillard’s, Dunham’s Sports, Jo-Ann’s Fabrics, Kohl’s, Ross Dress for Less, Ashley Store and many others
» Prime location just off the interchange of Interstate 40 & North Kickapoo Avenue, with access to a combined 48,500 vehicles per day, positioning the site to capture significant local, commuter and long-haul traffic
» Outparcel to Kohl’s and directly next to Walmart Supercenter, positioning the site to capture significant crossover buyer activity
» Across the highway from another large retail corridor containing tenants such as Lowe’s, Tractor Supply Company, Harbor Freight Tools, Hobby Lobby, T.J. Maxx, PetSmart, Whataburger, Taco Bell, Chick-fil-A, Popeyes, Starbucks, McDonald’s, and many others

GATEWAY TO OKLAHOMA CITY, OKLAHOMA
» Prime location along Interstate 40, a major East-West interstate feeding directly into downtown Oklahoma City, the capital and largest city in Oklahoma with a population of 681,054
» 36,098 residents living within 5 miles of the site, establishing a stable customer base for the site
» Projected population and AAHI increases within 1-,3- and 5-mile radii over the next four years poise Dutch Bros and Shawnee for steady concurrent growth
» The area within one mile of the site has experienced 20% population growth since the 2010 census

NEW 2023 CONSTRUCTION WITH DUAL DRIVE-THRU
» New high-quality 2023 construction built to Dutch Bros’ latest prototype
» The site features a dual lane drive-thru for added customer convenience

Property Description

» Strategic Location: This Dutch Bros is strategically positioned in Shawnee (the county seat of Pottawatomie County) just off the interchange of Interstate 40 and North Kickapoo Avenue
» Excellent Interstate Visibility: This site has excellent visibility from Interstate 40 (48,419 AADT), a major thoroughfare running across the entire state of Oklahoma from Texas
to Arkansas and connecting Shawnee to Oklahoma City (located 30 minutes west of Shawnee)
» Located in a Shopping Mall: Ideal location in the Shawnee Mall, a 455,420 square foot regional shopping mall anchored by Dillard’s, Dunham’s Sports, Jo-Ann’s Fabrics, Jones Theatre-Movie Six, Kohl’s, Ross Dress For Less, and Shoe Dept. Encore
» Outparcel to Kohl’s: Outparcel to Kohl’s and directly next to Walmart Supercenter, positioning the site to capture significant crossover buyer activity
» Beneficial Proximity to Shawnee’s Auto Mall: The site is within walking distance of Shawnee’s auto mall tenanted by Joe Cooper Dodge Jeep Of Shawnee, Joe Cooper Chevrolet, and Joe Cooper Ford of Shawnee
» Surrounded by Major National Retailers: Across the highway from another large retail corridor containing tenants such as Lowe’s Tractor Supply Company, Harbor Freight Tools, Hobby Lobby, T.J. Maxx, PetSmart, Whataburger, Taco Bell, Chick-fil-A, Popeyes, Starbucks, McDonald’s, and many others
» Stable Customer Base: 36,098 residents live within 5 miles of the site, creating a stable customer base for the site

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