Cocoa, FL - Dutch Bros

Description:

• The tenant recently signed a brand new 15-year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 10% rental increases every 5 years during the initial term and at the beginning of each option period, growing NOI and hedging against inflation
• Dutch Bros is the third largest coffee chain in the US with 1,266+ locations throughout 25 states and a long-term goal of hitting 4,000+ stores
• 2026 construction which features high quality materials, distinct design elements, and high-level finishes

• Located directly across Clearlake Road from Eastern Florida State College’s Cocoa Campus, the largest of its four campuses, with the college serving approximately 13,900 students annually
• EFSC’s Cocoa Campus plans $87 million in new academic buildings, student housing, and campus improvements through its 10-year master plan (Article Link)
• Established retail corridor with national credit tenant nearby such as Walmart supercenter, Publix, Aldi, Taco Bell, Tractor supply and more
• A planned Brightline station near US 1, SR 528, and Clearlake Road secured $57.5 million in federal funding, bringing future rail connections to Orlando and South Florida
• Located approximately 10 miles from Cape Canaveral, the asset benefits from proximity to Port Canaveral, where growing cruise activity continues to drive tourism to the region

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Listing ID: a28TP000003exajYAA