Dutch Bros. Coffee 305 S Elm St

Investment Highlights

Corporate Dutch Bros. Coffee Absolute Net Lease Corner of S. Elm St. and Veterans Dr near Creek Turnpike 13 Years on Primary Lease Term Tulsa MSA

Executive Summary

Dutch Bros. is located in the Tulsa suburb of Jenks, Oklahoma. The property consists of a freestanding ? 990 sf retail building, with double drive-through windows, on ? 0.80 acres of land at 305 S. Elm Street. The management-free, corporate lease is guaranteed by Boersma Bros, LLC and commenced on August 25, 2022. There are approximately 13 1/2 years of remaining term followed by 3, 5 year renewal options. Rent is scheduled to increase by 10% every 5 years, with the first increase coming in 3 years. Dutch Bros. Inc. (NYSE: BROS) is a high-growth operator and franchisor of drive-thru shops that focus on serving high-quality, hand-crafted beverages with unparalleled speed and service. There are currently 800+ Dutch Bros. locations across 16 states.Our site is located along a main commercial artery near a number of traffic generators including Reasor?s Foods, CVS Pharmacy, Walgreens Drugstore, Kum & Go, QuikTrip, Westlake Ace Hardware, Arby?s, Starbucks, McDonald?s, Salad & Go, Taco Bell, Dollar General, Ascension St. John Urgent Care and Arvest Bank. Jenks High School, Jenks City Hall, Police, Fire Department, and Library are all nearby. Jenks is one of the fastest growing cities in all of Oklahoma with the population nearly doubling since 2010 to 27,141 residents. Jenks is home to the Oklahoma Aquarium hosting more than 300,000 visitors annually, the RiverWalk Crossing, and the Tulsa Premium Outlets (opening 2024). Jenks is across the Arkansas River from downtown Tulsa, (pop. 420,000), the University of Tulsa, and Oral Roberts University. This is an opportunity to own a passive, single tenant property in a growing Tulsa suburb with a 10% rent increase in 2027.

• Sale Type    Investment NNN
• Sale Condition    1031 Exchange
• Property Type    Retail
• Property Subtype    Fast Food Fast Food General Retail Freestanding Fast Food
• Building Size    950
• Building Class    C
• Year Built    2022
• Price    1,775,700
• Price Per SF    1,869
• Cap Rate    5.35
• NOI    95,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.03
• Land Acres    0.80 AC