McKinney, TX - Dutch Bros
$1,980,000
NEC of U.S. Highway 380 & Bois D’Arc Road, McKinney, TX 75071
5
Cap Rate
99,000
NOI
Details:
Description:
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, drive-thru equipped, Dutch Bros investment property located in McKinney, Texas (Dallas-Fort Worth MSA). The tenant, BB Holdings TX, LLC, recently signed a brand new 15-year lease with 6 (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. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. In addition, the site will feature a newly constructed, drive-thru equipped building with modern amenities and design. On average, stores with drive-thus experience higher sales than those without. Founded in 1992, Dutch Bros now has over 600 locations in 14 states.
The site is strategically located near the signalized, hard corner intersection of U.S. Highway 380 and Hardin Blvd, averaging over 58,200 vehicles per day. The asset also benefits from excellent visibility and access via a large monument sign and multiple points of ingress/egress. Located within an immense retail corridor, the property is ideally situated next to a proposed multifamily project (380 units) and a proposed retail anchored center. Additionally, the site is adjacent to a 120-acre property with national/credit tenants including Costco, Marshalls, and Hobby Lobby, and across from a retail center anchored by Cinemark, 24 Hour Fitness, At Home, and others. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the asset is down the street from Raytheon Intelligence and Space, a 178,000 SF intelligent manufacturing facility employing over 3,700 people, further increasing consumer traffic to the property. The 5-mile trade area is supported by more than 170,000 residents and 55,000 employees, providing a direct consumer base from which to draw. Residents within 3 miles of the site boast an affluent average household income of $130,787.
Location
Gallery
