Listed by Marcus & Millichap - Phoenix
$2,745,455
Dutch Bros | 13+ Years | Across from Walmart
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 871
Cap Rate 5.50%
NOI $151,000
Occupancy 100%
Tenancy Single
Brand/Tenant Dutch Bros
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 05/31/2039
Remaining Term 12.9
Rent Bumps Yes
Lease Options 3, 5 Year Options
Price per SqFt $3,152
Year Built 2024
Acreage 0.650
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/31/2024
Ground Lease No
Retail | 5.50% CAP | 871 SqFt
Marketing description
Dutch Bros is a high growth operator and franchisor of drive-thru shops that focus on serving high quality, handcrafted beverages with unparalleled speed and superior service. Dutch Bros Coffee is one of the largest publicly-traded drive-thru coffee companies with approximately 1,135 stores open across 25 states.
Las Cruces is the second-most populous city in New Mexico and serves as the county seat of Doña Ana County. The city is home to an estimated 111,385 residents. Las Cruces is a thriving city surrounded by picturesque desert and conveniently located less than an hour from El Paso International Airport.
Investment highlights
- 12+ Years Remaining on Absolute Triple-Net (NNN) Lease with Corporate Dutch Bros Guaranty (NYSE: BROS)
- Dutch Bros is One of the Fastest-Growing Brands in the Quick Service Beverage Industry in the U.S. with ±1,135 Locations in 22 States
- 10% Rental Increases Every 5 Years with Multiple Renewal Options
- New 2024 Construction with Two Drive-Thru Lanes
- Growing Trade Area in Las Cruces - 104,886 Residents within a 5-Mile Radius
- Central Location Just 2 Miles from Downtown Las Cruces and New Mexico State University
- Across from Walmart Supercenter and Surrounded by National Retailers: McDonald's, Cracker Barrel, Applebee's, and More
- Situated Immediately Off Interstate 10, a Major Connector with Direct Access from Las Cruces International Airport
Listing Contacts
Listed by Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$151,000.00
$12,583.33/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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