Dutch Bros Coffee | Absolute NNN Lease
New Construction | 5.00% CAP | Phoenix MSA
Marketing description
Cushman & Wakefield is pleased to present the opportunity to acquire a net leased investment tenanted by Dutch Bros Coffee, one of the fastest-growing drive-thru beverage brands in the United States. The property is secured by a brand-new absolute NNN lease, providing investors with a passive investment structure featuring zero landlord responsibilities and attractive rent growth throughout the lease term.
Founded in 1992 in Grants Pass, Oregon, Dutch Bros has grown from a single pushcart coffee stand into a nationally recognized beverage brand known for its high-energy customer service model and efficient drive-thru operations. As of 2026, the company operates more than 1,136 locations across 25 states and continues to expand rapidly with a long-term goal of reaching over 2,000 shops by 2029 and an estimated potential of more than 7,000 locations nationwide. The company went public on the New York Stock Exchange in 2021 (NYSE: BROS) and currently maintains a market capitalization of approximately $8.7 billion, supporting its continued national expansion strategy.
The subject property is located at 5960 W Northern Avenue in Glendale, Arizona, within the densely populated northwest Phoenix metropolitan area. The site benefits from strong connectivity to U.S. 60 and surrounding arterial corridors, providing convenient regional access throughout the West Valley. The surrounding trade area is highly populated, with more than 502,000 residents within a five-mile radius and strong household incomes supporting long-term retail demand.
Positioned on approximately ±0.68 acres, the property features a newly constructed ±1,040-square-foot drive-thru building with an additional patio area and is scheduled for completion in 2026. The investment is secured by a 15-year build-to-suit lease with scheduled rent increases every five years, offering investors stable long-term income backed by a rapidly expanding national brand.
This offering represents an opportunity to acquire a brand-new Dutch Bros Coffee investment with durable passive income, strong real estate fundamentals, and long-term value supported by one of the most dynamic beverage concepts in the United States.
Investment highlights
INVESTMENT HIGHLIGHTS
Absolute NNN – zero landlord responsibilities
Brand New Construction
Long Term 15 Year Primary Lease
10% increases every 5 years
TENANT HIGHLIGHTS
2nd largest franchisee in the U.S.
1,136 locations across 25 states
2025 revenue guidance of $1.61–$1.615 billion, reflecting continued strong growth
Long-term expansion goal of 2,029 shops by 2029 with a total potential market of 7,000+ U.S. locations
Market Cap of $8.73 billion
Fast-growing drive-thru beverage operator known for high-volume, efficient shop model and loyal customer base
Publicly traded on the NYSE: BROS
LOCATION HIGHLIGHTS
Located less than 1 mile from U.S. 60 with 42,802 VPD
Densely populated trade area with ±502,375 residents in a 5-mile radius
High average household incomes over $87,000 in a 5 mile radius
±5.4 miles from Westgate Entertainment District, a premier regional destination featuring national retail, dining, and entertainment
Located near Northern Crossing anchored by Walmart Supercenter, Lowe’s, Chipotle, and PetSmart
Less than 1.5 miles from Glendale Community College (13,914 students)
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