Daphne, AL - Dutch Bros
$2,670,000
30941 Mill Lane, Spanish Fort, AL 36527
5.65
Cap Rate
150,858
NOI
Details:
Description:
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Dutch Bros investment property located in Daphne, Alabama. The tenant, Boersma Bros. LLC (dba Dutch Bros) recently signed a brand new 15-year lease, with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
The Dutch Bros is located just off the signalized intersection of State Highway 181 and U.S. Highway 31 with a combined 62,800 vehicles per day. Highway 181 is the major retail thoroughfare serving the Eastern Shore, connecting the trade area to Interstate 10 (63,100 VPD) immediately south. The Dutch Bros is an outparcel to an ALDI-anchored center that also features national/credit tenants including Sonic, Waffle House, Popeyes, Walgreens, and Advance Auto Parts pads, with a dedicated pylon sign along Mill Lane. The asset is adjacent to the Highway 31/181 convergence retail node featuring Freddy’s Steakburgers, McDonald’s, AutoZone, and Dollar General, along with a four-hotel hospitality cluster. In addition, the Dutch Bros is also minutes from Eastern Shore Centre, an open-air lifestyle center anchored by Dillard’s, Publix, and Starbucks, and Eastern Shore Plaza, a power center anchored by Best Buy, Ross, and PetSmart. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Sam’s Club, Lowe’s, The Home Depot, Bass Pro Shops, and the Highway 181 auto dealership row, further increasing consumer traffic to the site. The subject property is in close proximity to Spanish Fort High School (1,115 students), with 540 multifamily units directly surrounding the site and downtown Mobile just 20 minutes west. The 5-mile trade area is supported by a population of over 43,700 with an average household income of $127,000.
Location
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