St. Augustine, FL - Dutch Bros

Description:

• The tenant has 20 years remaining on their 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
• Founded in 1992, Dutch Bros Coffee is a publicly traded Coffee Chain (NYSE: BROS), with 800 locations throughout 14 states
• 2024 construction which features high quality materials, distinct design elements, and high-level finishes

• Dutch Bros is strategically fronting US Hwy 1 (26,000 VPD) and has better visibility than the adjacent Starbucks, attracting more users to the site
• The new Mr. Clean Car Wash being built next to Dollar Tree will provide another steady consumer base, along with Nease High School (3,115-students) , located 5 miles North of the subject site
• The immediate trade area is undergoing new development such as the newly built Shoppes at Palencia Commons, a Publix-anchored shopping center
• The Circle K located next door to the subject property ranks in the top 79% of all locations nationwide according to Placer.ai (810 out of 3,936)