Overview

Description

SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, drive-thru equipped, freestanding, Scooter’s Coffee investment property located in Minden, NV (Reno MSA). The tenant, Johnson Java 1672, LLC, recently signed a brand new 15-year lease with 4 (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 no landlord responsibilities making it an ideal investment opportunity for a passive investor.

The Scooter’s Coffee is located along U.S. Highway 395, a major retail thoroughfare that sees over 30,500 vehicles passing by daily. The property benefits from excellent visibility being strongly positioned near the signalized, hard corner intersection U.S. Highway 395 and State Highway 88 (42,800 VPD). The investment is strategically located near national/credit tenants including McDonald’s, Dairy Queen, Tractor Supply Co., Big 5 Sporting Goods, and Starbucks. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The Scooter’s Coffee benefits from limited competition with the next Scooter’s Coffee location being over 28 miles away. The 5-mile trade area is supported by more than 18,000 residents and 11,700 daytime employees with an affluent average household income of $110,572.

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