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Dutch Bros Coffee, Mont Belvieu, TX

Dutch Bros Coffee

Mont Belvieu, TX

Price $2,039,000
Cap Rate 5.00%
NOI $101,929
Lease Term 15 Years
Lease Type Absolute NNN, 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 935 SF
Lot Size 0.914 Acres (39,816 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 WITH SCHEDULED RENTAL INCREASES TO STRONG RETAIL TENANT
» New 15-year guaranteed absolute NNN lease with four (4) five (5) year options, creating a stable, long-term investment
» 10% rental increases every five years, providing a hedge against inflation
» Absolute NNN lease requires zero landlord management, ideal for an out-of-area investor
» Dutch Bros recently went public valued at over $5.6 billion (NYSE: “BROS”)
» Dutch Bros is a drive-thru coffee chain with a goal of adding more than 500 new sites by 2023
» Dutch Bros sales are up 51% through the first six (6) months of 2021 after a record performance in 2020

HIGH-TRAFFIC LOCATION IN EXTREMELY AFFLUENT AND RAPIDLY GROWING AREA
» High-visibility location at the signalized hard corner of Eagle Drive and Royal Palm Drive (24,035+ AADT)
» $132,190 average household income within a three-mile radius of the property
» Population increase of 56% within a five-mile radius of the site since 2010, demonstrating Mont Belvieu’s recent rapid growth
» Projected average annual household income increase of 11 percent within a one-mile radius of the site in next five years, poising Mont Belvieu and Dutch Bros Coffee for steady concurrent growth

PRIME LOCATION NEAR LARGE SCHOOLS, COMMUNITY HUBS, AND RETAILERS
» Surrounded by a strong mix of local and national retailers, including H-E-B, McDonald’s, Taco Bell, Popeyes, Smoothie King, Pizza Hut, and many more
» Walking distance from Mont Belvieu’s most highly attended schools, including Barbers Hill High School (in front of the site), Middle School North, Middle School South, and Elementary School (combined 4,028 students)
» Location is surrounded by high-density single family housing developments and large townhouse complexes
» Common gateway to Downtown Houston, the fourth-most populous city in the United States (population 2,320,268)

NEW 2021 CONSTRUCTION IN INCOME TAX FREE STATE
» 2021 construction featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue
» Features latest store designs and concepts
» Texas has no state income tax, estate tax, or inheritance tax


Property Description

The property is conveniently located at the signalized hard-corner of Eagle Drive and Royal Palm Drive (24,035+ AADT). The location resides in a populous area with affluent demographics, with an average household income of $132,190 within a three-mile radius of the property. The site resides in an area that has experienced recent rapid growth, with a population increase of 56 percent since 2010 within a five-mile radius of the site. With a projected average annual household income increase of 11 percent within a one-mile radius of the site in next five years, Mont Belvieu and Dutch Bros Coffee are poised for steady concurrent growth.

The site features a prime location near large schools, community hubs, and retailers. The property is surrounded by a strong mix of local and national retailers, including H-E-B, McDonald’s, Taco Bell, Popeyes, Smoothie King, Pizza Hut, and many more. The site greatly benefits from its setting within walking distance of Mont Belvieu’s most highly attended schools, including Barbers Hill High School (directly in front of the site), Middle School North, Middle School South, and Elementary School (combined 4,028 students). Traffic to the property is increased by the site’s proximity to several large housing developments and townhouse complexes. The property also serves as a common gateway to Downtown Houston, the fourth-most populous city in the U.S. (population 2,320,268).

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