Dutch Bros

1253 State Avenue, Marysville, WA

$2,299,020

Price

5%

Cap Rate

824 sqft

Building Size

Overview
Cap Rate
5%
Building Size
824 sqft
Lot Area
0.53 acres
Lease Type
Absolute Net
Year Built
2019
Tenancy
Single
Parking Spots
7
Description

The offering provides an opportunity to acquire a new construction Dutch Bros located in the Seattle MSA in Washington - an income tax free state. The corporate guaranteed lease features a 15-year absolute NNN lease with four 5-year options to extend and 10% increases every five years in the base term and options. The store is currently under construction with an estimated store opening/rent commencement date of October 1, 2019.

The subject property is located 35 miles north of Seattle, just minutes off I-5 on State Avenue, one of the key commercial corridors in Marysville. Dutch Bros is across the street from a Safeway grocery store that is open 24 hours per day. Dutch Bros is surrounded by a massive cluster of nationally branded retail including The Home Depot, Walmart Supercenter and Cabela’s, as well as Dollar Tree, Grocery Outlet, Fred Meyer, Ross, Kohl’s, PetSmart, and many more. The subject property is also within a half-mile of eight grade schools, including four elementary schools, two middle schools and two high schools. The site features outstanding visibility, ingress and egress and benefits from traffic counts exceeding 15,700 cars per day.

Dutch Bros coffee is the country’s largest privately held, drive-thru coffee company. Having started from humble beginnings, as a single espresso pushcart in the small town of Grants Pass, Oregon, the company now has over 320 locations across seven western states. Dutch Bros franchise development has also been noted by Forbes as having one of the strongest track records. Dutch Bros Coffee has always focused more on people than the bottom line, with a desire to transform lives rather than conduct transactions.

Highlights
  • Dutch Bros is a beloved company, headquartered in neighboring Oregon, and is highly established in the Pacific Northwest with a devoted following
  • Located in Washington - Income Tax Free State (Seattle MSA)
  • Store opening/rent commencement anticipated for October 1, 2019
  • 15-year Absolute NNN corporate lease provides zero landlord management responsibility
  • Brand new high quality construction with new Dutch Bros format and drive-thru
  • Fantastic demos: Over 99,000 residents with average household incomes exceeding $92k within a 5-mile radius
Documents

Location
Gallery