Dutch Bros Coffee
Claremore, OK
| Price | $2,706,000 |
| Cap Rate | 4.25% |
| NOI | $115,000 |
| 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 | 2022 |
| Building Size | 950 SF |
| Lot Size | 1.033 Acres (45,000 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 GUARANTEED 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
» Dutch Bros recently went public – valued now at over $7.9 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
PROMINENT LOCATION IN A DENSE RETAIL CORRIDOR WITH PROXIMITY TO LARGE HOSPITALS, AND SCHOOLS
» Located near the signalized intersection of West Will Rogers Boulevard (22,393 AADT) and South Davis Avenue (2,922 AADT)
» Beneficial proximity to U.S. Route 66 (27,443 AADT), increasing traffic to the area
» Situated next to Claremore Indian Hospital (53 beds), with proximity to Claremore Veterans Center (302 beds) and Hillcrest Hospital Claremore (95 beds, 420 employees)
» Walking distance to Rogers State University (3,198 students) and many well-attended schools, including Claremore High School (1,247 students) and Will Rogers Junior High School (770 students), providing an ideal customer base for the site
» Excellent location in Claremore’s retail corridor, surrounded by prominent national retailers such as Walmart Supercenter, ALDI, CVS Pharmacy, Walgreens, Enterprise Rent-A-Car, Chick-fil-A, McDonald’s, Taco Bell, and numerous others
» Less than three miles from Holiday Inn Express & Suites Tulsa NE – Claremore (81 rooms), Hampton Inn & Suites (80 rooms), and La Quinta Inn & Suites by Wyndham Claremore (71 rooms)
STRATEGIC LOCATION IN GROWING TULSA SUBMARKET
» Surrounded by high-density, single family housing developments and large apartment complexes including Chalet Apartments (219 units) and Lakeshore Apartments (66 units), providing a regular customer base for the property
» Population of 32,828 within five miles
» Average annual household income of $74,274 within a five-mile radius (projected to increase 10 percent by 2026)
» Near several airports including, Claremore Regional Airport and Tulsa International Airport (2.3 million annual passengers)
» Gateway to Downtown Tulsa, the second-largest city in Oklahoma (413,066 residents)
NEW 2022 CONSTRUCTION
» 2022 construction featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue
» New freestanding building
Property Description
Dutch Bros Coffee is conveniently located near the signalized intersection of West Will Rogers Boulevard (22,393 AADT) and South Davis Avenue (2,922 AADT). The property maintains beneficial proximity to U.S. Route 66 (27,443 vehicles per day). The site is next to Claremore Indian Hospital (53 beds), with proximity to Claremore Veterans Center (302 beds) and Hillcrest Hospital Claremore (95 beds, 420 employees). The property is within walking distance of Rogers State University (3,198 students) and many well-attended schools, including Claremore High School (1,247 students), and Will Rogers Junior High School (770 students), providing an ideal customer base for the site. The property is centrally located near Downtown Claremore and is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, ALDI, CVS Pharmacy, Walgreens, Enterprise Rent-A-Car, Chick-fil-A, McDonald’s, Taco Bell, and numerous others. The site is less than three miles from Holiday Inn Express & Suites Tulsa NE – Claremore (81 rooms), Hampton Inn & Suites Claremore (80 rooms), and La Quinta Inn & Suites by Wyndham Claremore (71 rooms).
The property is in a strategic location in the growing Tulsa submarket and is a gateway to Downtown Tulsa, the second-largest city in Oklahoma (413,066 residents). The site is close to several airports including Claremore Regional Airport and Tulsa International Airport (2.3 million annual passengers). The property is immediately surrounded by high-density, single family housing developments and large apartment complexes including Chalet Apartments (219 units) and Lakeshore Apartments (66 units), supplying a regular customer base. The area has a population of 32,828 within five miles and an average annual household income of $74,274. The average annual household income is projected to increase 10 percent by 2026, poising Dutch Bros Coffee and Claremore for concurrent growth.
