Lexington, SC - Dutch Bros

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 Lexington, South Carolina. 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 at the signalized intersection of Sunset Blvd (U.S. Highway 378) and Tom Corley Pl (43,200 VPD). Sunset Blvd is the major retail thoroughfare serving the town of Lexington, connecting the Lake Murray communities to Interstate 20 (89,900 VPD) and downtown Columbia. The Dutch Bros is an outparcel to LIDL, immediately adjacent to Lexington Pavilion, a Target-anchored center that also features national/credit tenants including Best Buy, PetSmart, World Market, CVS Pharmacy, and Kay Jewelers. The asset is across from a power cluster featuring Hobby Lobby, Burlington, ALDI, Lowes Foods, Ulta Beauty, and La-Z-Boy, with additional pads including Bojangles, McAlister’s Deli, Dunkin’, CAVA, and 7-Eleven. In addition, the property is minutes from Lexington Place, a Publix and Kohl’s anchored center featuring Ross, TJ Maxx, Petco, Office Depot/OfficeMax, and Five Below. The property is in the center of Lexington’s primary retail corridor with other nearby national/credit tenants including Walmart Supercenter, The Home Depot, Lowe’s, Planet Fitness, Starbucks, Panera Bread, Zaxby’s, and more, further increasing consumer traffic to the site. The subject property is in close proximity to Golden Hills Golf & Country Club, The Overlook at Golden Hills Apartment Homes (204 units), and five surrounding schools totaling nearly 3,900 students, with Prisma Health and the FBI Columbia Field Office driving additional daytime demand. The 5-mile trade area is supported by a population of over 99,000 with an average household income of $123,681.

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