Charleston, SC - Dutch Bros
$3,142,000
5187 Ashley Phosphate Rd, North Charleston, SC 29418
5.15
Cap Rate
161,815
NOI
Details:
Description:
SRS Real Estate Partners is pleased to offer the fee simple interest in a brand-new Dutch Bros Coffee property in Charleston, SC. The tenant, Boersma Bros. LLC, managed by Dutch Mafia LLC under Dutch Bros Inc. (NYSE: BROS), recently signed a 15-year lease with three (3) five-year renewal options. Dutch Bros, one of the nation’s fastest-growing QSR brands with 1,000+ locations and $1.28B in 2024 revenue, provides secure tenancy. The lease includes 10% rent increases every five years, driving NOI growth and hedging against inflation. Built in 2025 with high-quality finishes, the property requires minimal landlord oversight under an absolute NNN structure, offering a true passive investment.
The asset is an outparcel to Festival Centre, a 325,000+ SF retail destination attracting 1.7M annual visitors. Recently acquired for $21.75M, the center is being repositioned
into an entertainment hub featuring new anchors such as ParTee Shack (77,000+ SF) and PickleRage (40,000+ SF indoor pickleball), alongside dining and family attractions.
This redevelopment will enhance traffic, strengthen tenant synergy, and bolster fundamentals for outparcels like the subject property. The asset is also within minutes of Joint Base Charleston, which hosts over 60 DoD and federal agencies and supports a total force of over 90,000 personnel, including active duty, reservists, civilians, dependents, and retirees. A major logistics hub, the base facilitates the storage, maintenance, and export of military supplies and armored vehicles. Located at the high-traffic intersection of Ashley Phosphate Rd (37,500 VPD) and Dorchester Rd/State Hwy 642 (45,800 VPD), with combined traffic counts exceeding 83,300 VPD, the site benefits from excellent visibility from both thoroughfares. In addition to its high-profile location, Festival Centre features numerous access points for consumer traffic, with one internal ingress/egress providing direct access to the Dutch Bros outparcel. The five-mile trade area includes 121,400+ residents and 52,700+ employees, with household incomes averaging $94,051. Situated in the fast-growing Charleston MSA, supported by a diverse economy of tourism, port logistics, manufacturing, and technology, the property is well-positioned for long-term stability and growth.
Location
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