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Dutch Bros Coffee, Missouri City, TX

Dutch Bros Coffee

Missouri City, Texas

Price $2,340,000
Cap Rate 4.75%
NOI $111,103
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 2022
Building Size ±950 SF
Lot Size ±1.166 Acres (50,791 SF)
Status Available
Lead Broker Information Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Managing Director
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 LEASE TO STRONG RETAIL TENANT
» New 15-year absolute NNN lease to strong and rapidly growing retail tenant
» 10% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor
» Dutch Bros recently went public – now valued at over $5.6 billion (NYSE: “BROS”)
» Dutch Bros Inc. is one of the fastest-growing brands in the food service and restaurant industry in the U.S. by location count
» In 2021, total revenues grew 52.1% to $497.9 million as compared to $327.4 million in 2020

HIGH-VISIBILITY LOCATION NEAR PROMINENT RETAILERS IN MISSOURI CITY’S MAIN RETAIL CORRIDOR
» Strategically located on Highway 6 with access to 43,195 vehicles per day
» Situated near the Fort Bend Parkway Toll Road (18,550 AADT) signalized intersection, increasing site traffic and visibility
» Outparcel to Kroger-anchored shopping center and surrounded by local and national retailers, including Walmart Supercenter, H-E-B, CVS Pharmacy, Walgreens, Chick-fil-A, McDonald’s, and many more
» Near several large schools and universities including, HCC Southwest College (38,800+ students), Lawrence E. Elkins High School (2,389 students), and Hightower High School (2,024 students)
» One mile from a new Amazon warehouse (one-million-square-foot facility, 500 employees) and Kenneth Hall Stadium (10,000-seat multi-purpose stadium)

PRIME LOCATION WITH ROBUST DEMOGRAPHICS IN GROWING HOUSTON SUBMARKET
» Surrounded by high-density, single family housing developments and large apartment complexes, including Royal Sienna (330 units) and The Ranch at Sienna Plantation apartments (312 units), providing a regular customer base
» Population of 158,485 within a five-mile radius (48% growth since 2010), projected to increase 14% by 2026
» Affluent community with an average annual household income of $139,121 within one mile
» Beneficial proximity to several airports: George Bush Intercontinental Airport (Houston’s largest airport and the 16th busiest airport in North America with 45 million annual passengers) and William P. Hobby Airport (over 14.4 million annual passengers)
» Gateway to Downtown Houston, the most populous city in Texas, and fourth-most populous in the U.S. (2.3 million residents)

NEW 2022 CONSTRUCTION IN INCOME TAX-FREE STATE
» 2022 construction featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue
» Texas has no state income tax, estate tax, or inheritance tax


Property Description

Dutch Bros is strategically located on Highway 6 with access to 43,195 vehicles per day. The location is near the signalized intersection of Fort Bend Parkway Toll Road (18,550 AADT), increasing site traffic and visibility. The property is an outparcel to a Kroger-anchored shopping center and surrounded by a mix of local and national retailers, such as Walmart Supercenter, H-E-B, CVS Pharmacy, Walgreens, Chick-fil-A, McDonald’s, and many more. The site is near several large schools and universities including HCC Southwest College (38,800+ students), Lawrence E. Elkins High School (2,389 students), and Hightower High School (2,024 students). The property is situated one mile from a new Amazon warehouse (one-million-square-foot facility, 500 employees) and Kenneth Hall Stadium (10,000-seat multi-purpose stadium), increasing traffic in the area.

The site is in a prime location in a growing Houston submarket. The property is surrounded by high-density, single family housing developments and large apartment complexes including Royal Sienna (330 units) and The Ranch at Sienna Plantation apartments (312 units), providing a regular customer base. The area is densely populated with a population of 158,485 within a five-mile radius (48% growth since 2010) and is projected to increase 14% by 2026. The community is affluent with an average annual household income of $139,121 within one mile of the site. The location is a gateway to Downtown Houston, the most populous city in Texas and the fourth-most populous in the U.S. (2.3 million residents). The site maintains beneficial proximity to several airports such as the George Bush Intercontinental Airport (Houston’s largest airport and the 16th busiest airport in North America with 45 million annual passengers) and William P. Hobby Airport (over 14.4 million annual passengers).

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